Indeed, in attempting to collect more micro data (such as through the ongoing Eurosystem project to collect securities holding statistics on a security-by-security basis), we will face the challenge of finding ways to adapt more flexibly to new user demands without imposing additional reporting requirements on data reporting agents.
The term of PRAs was increased from one month to both one and three months, and the frequency of term PRA operations was increased to weekly (from biweekly in the spring). In addition, we substantially increased the size of this term financing from $ billion in the spring of 2008 to about $ billion currently.