This gives banks as much central bank liquidity as they want at our key policy interest rate, against an expanded list of eligible collateral.
Remarks before the Money Marketeers of New York University, New York, February 3, 2003. 3  Friedman, B. (1990), “Targets and Instruments of Monetary Policy”. In B. Friedman and F. Hahn (eds.) Handbook of Monetary Economics, Amsterdam, North-Holland. 11. The weakening of monetary targeting framework, both in advanced and developing countries, triggered a search for alternate monetary frameworks.