In addition, we continued to allot in the regular main refinancing operations significantly larger amounts of liquidity than we would have done under normal circumstances, while aiming at balanced liquidity conditions at the end of the maintenance period. Some tentative signs of improvement can now be seen in the money markets, in particular in the commercial paper market.
Tensions still remain, in particular in the so-called Asset Backed Commercial Paper market segment, which has been at the root of the tensions. However, unlike during the peak of the difficulties in August, there is now some differentiation between commercial papers with different underlying assets or different credit of sponsoring banks.