Following our non-standard monetary policy measures and action by other policy-makers, a broadly based strengthening in the deposit base of MFIs in a number of stressed countries was observed. This allowed several MFIs to reduce further their reliance on Eurosystem funding and helped to reduce segmentation in financial markets.
It is not demonstrably less effective than the others and it carries none of the bad side effects.”  BIS central bankers’ speeches  11  Prayers, anybody?