Separation of central banking and supervision in EMU I should like to discuss next the relation between central banking and supervision in the new institutional framework defined by the Treaty.
During 2019–20 so far (up to September 13), portfolio equity outflows were of the order of $ 1.4 billion but lower than $ 2.9 billion in the corresponding period a year ago. Net inflows into the debt market of $ 4.1 billion have, however, provided relief.