It may choose to extend the maturity of its market operations; it may coordinate closely with other central banks when there is an international dimension to the problem; it may choose to widen the range of securities in its market operations or loan facilities; or, it may choose to increase the frequency of its market operations.
9 We opted for the first three of these with the term purchase and resale operations announced on 12 December and 11 March. Although we typically carry out purchase and resale operations with an overnight maturity, the two operations announced in March were for a much longer maturity (the two March operations were both for 28 days).