Along with money market stabilizing measures, the Bank has introduced various measures to support corporate financing with a view to extracting maximal monetary easing effects. In advanced economies, the parties that extend credit directly to firms are private financial institutions and investors, and the role of central banks is to indirectly support this credit extension.
Specifically, the role of central banks is to provide liquidity through money market  BIS Review 4/2009  5  operations and to take corporate debt as eligible collateral for its credit extension to private financial institutions. If central banks implement measures that take on the credit risks of individual firms, this will inevitably take away the businesses of private financial institutions.