CHANGES IN BANK RATE, MINIMUM LENDING RATE, MINIMUM BAND DEALING RATE, REPO RATE AND OFFICIAL BANK RATE

There are strong interdependencies between banks and governments, through both balance sheet and contingent claim exposures. These interdependencies mutually reinforce the macroeconomic propagation of banking or sovereign market tensions. Second, given the fragmentation of some market segments and the setback to European banking sector integration, persistent cross-country heterogeneity needs to be considered. Third, a proper assessment of fi nancing conditions hinges on the distinction between demand and supply-side factors in credit intermediation. Finally, the impact of non-standard measures adopted by the ECB and the Eurosystem as a whole needs to be identifi ed. The impact of some measures...