For instance, in jurisdictions where the set of assets eligible for central bank operations is broader than the one qualifying for the fulfilment of the liquidity standards, one may witness an increased reliance on central bank refinancing using less liquid assets as collateral.
The question of whether central bank operational frameworks should support, or not, the fulfilment of banks regulatory liquidity standards is certainly not straightforward. The interaction between liquidity regulation and central bank operations will certainly be pervasive.