In any case, it was clear that unconventional monetary policies, however necessary and justified during periods of acute instability, distort markets over time. They result in postponed balance sheet adjustments, provide incentives for risk taking and increased leverage and carry the risk of distorting the functioning of financial markets impairing the ability of markets to measure and price risks.
Most importantly, there were clearly risks from exit. The primary risks associated with the exit from unconventional monetary policy are associated with an increase in interest rates, especially long term interest rates.