2  BIS central bankers’ speeches  our monetary policy can only be ensured by reducing spatial fragmentation within the monetary union.3 The type of liquidity provision that I have described thus far does not represent a nonstandard measure per se. Supplying liquidity to banks is obviously a standard activity for central banks.
However, there are examples of financial distortions which can be effectively countered by non-standard measures taking the form of liquidity injections. One example is the case of an unexpected, large fall in the value of assets held by commercial banks.