To this end, the Bundesbank regularly publishes a set of indicators on its website.3 Minimum debt sustainability standards should be imposed only once these indicators begin to show signs of a threat to the stability of the financial system. In order for such requirements to meet their target and to mitigate side effects, a careful assessment of the consequences will be necessary.
And when we began QT roughly a year ago, we also said we had decided to implement monetary policy using a floor system—or an ample reserve system—  -7Category/Catégorie: Protected B/Protégé B  on a permanent basis.6 It is important to understand that the amount of settlement balances—or reserves—needed to operate in a floor system is somewhat above the long-term level demanded by the banking sector.