Demand in these operations declined in the course of 2010. Following the emergence of some signs of potential tensions in US dollar funding markets in 2011, as a precautionary measure, the ECB recently decided to re-establish 84-day fixed-rate full allotment tenders in US dollars, in addition to the 7-days tenders.
4  BIS central bankers’ speeches  In 2009 the ECB launched one of its most innovative non-standard measures, our first Covered Bond Purchase Programme (CBPP1). Under this initiative the Eurosystem purchased € billion worth of covered bonds between July 2009 and July 2010.