We could therefore decide to hold the portfolio until maturity and let it gradually shrink over time as a result of redemptions. Alternatively, the portfolio could be  BIS Review 138/2009  7  disposed of in a gradual way that would make it possible to avoid market distortions.
In any case, the alternative options can be considered again once the entire portfolio has been established. Regardless of the specific modalities adopted for the exit strategy, key principles of “how” to phase out existing measures should in any case be timeliness and gradualism.