Finally, in a fortunately limited number of episodes, central banks have assisted their domestic governments in providing emergency liquidity assistance to institutions under stress. 4.1.1. Responses of the Eurosystem  Let me now briefly describe how the Eurosystem has responded through operational measures to changes in banks’ liquidity demand.
The payment system is a critical part of America’s infrastructure that touches everyone. Americans rely on the payment system all day every day to make purchases, pay bills, and get paid—without ever needing to consider the complex infrastructure that is operating under the hood. American households and businesses want and deserve payment transactions that work seamlessly, reliably, and efficiently.