•  Moreover, they widened and improved the access of counterparties to collateralised lending from the central bank, to facilitate the distribution of central bank funds and increased the scale of those operations. •  Some central banks increased securities lending to improve the functioning of interbank repo markets.
Third, central banks increased their co-operative efforts both through enhanced communication and collective market monitoring, and through co-ordinated actions to provide longer-term funds. Finally, some central banks also calibrated their monetary policy stance to take into account any impact the unfolding credit market turbulences might have on inflation and real activity. 3.1.