ECB’s Mersch: ECB will prudently adjust tool box when warranted

Yves Mersch, Member of the Executive Board of the European Central Bank (ECB) crossed the wires last minutes, making a scheduled speech on ‘Risk Management In Times of Non-Conventional Monetary Policy’.

Main Headlines:

ECB will prudently adjust tool box when warranted

"Overriding" priority is price stability

Have not suffered any impairment since we started the expanded asset purchase programmes

Can start thinking about a financial risk management framework that has returned to more conventional policy

Can be argued that temporary collateral framework should not become part of the regular framework