European Central Bank unveils plan to gradually reduce its financial footprint and transform banks' interaction.

The European Central Bank (ECB) unveiled a plan to gradually reduce its financial footprint in the region's financial system. This change, aimed at transforming banks' interaction with the central bank and with each other, is part of a rare makeover of the ECB's monetary policy. The new operational framework will encourage banks to lend to each other while providing safety nets to limit financial tension.