With advent of internet and wireless communication systems gaining wide acceptability, this situation is, however, rapidly changing, and possibilities for cost-efficient sale and distribution of government securities are increasing. Leveraging such new technology to access a broader set of potential investors could also have implications for the design and functioning of the market and could change investor profiles.
In such a situation, central banks can resort to direct financial asset purchases and/or loosen collateral standards to expand their balance sheets. In the recent global financial crisis most advanced country central banks resorted to unconventional monetary policy.