Whether or not a central bank engages in direct lending will very much depend on a number of considerations referring to structural features of the economy, the gravity of the crisis, the state of the financial system and a number of institutional factors, notably those governing the relationship between the central bank and the government.
Information should be available concerning institutions, instruments and markets that are currently unregulated but whose risks raise financial stability concerns given their potential systemic impact. The effectiveness of the financial safety net composed of deposit insurance and access to emergency lending facilities at the central bank was also tested.