Lending operations

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Central banks - monetary policy - unconventional monetary policy.


In response to the Global Financial Crisis central banks expanded their liquidity facilities to commercial banks.

This expansion included:

  • Extending the maturity of lending operations
  • Expanding the set of eligible collateral and the set of counterparties
  • Imposing conditions on loans, such as bank lending to non-financial private firms.

Source: 'Unconventional monetary policy tools: a cross country analysis'. Committee on the Global Financial System. October 2019

See also