This fact demonstrates the unsurprising truth that central banks act similarly when  2  At the press conference in February 2009, President Obama said, “[I]f you delay acting on an economy of this severity, then you potentially create a negative spiral that becomes much more difficult for us to get out of.
These statistics are expected to play an important role in fostering the integration of the European short-term securities markets through greater market transparency. Concerning the provision of central banking services that also foster European financial integration I mention the most prominent example: our operation of the real-time gross settlement payment system for the euro, the TARGET system.