The LAF is able to take care of very short period flows. The MSS handles the longer term flows slightly better than the LAF, and the CRR is more appropriate for addressing fairly longer term flows. However, effectiveness of the MSS will depend more on the initiatives of the market participants than on the decisions of the Reserve Bank.
2/3  BIS central bankers' speeches  If we want to take a long, hard look at ourselves, we should go back further than the Greek crisis, to the beginnings of the euro area. Between 1999 and 2010, we allowed budgetary situations and wage costs to diverge between countries, which led to the crisis. That was the first lesson.