Other liabilities  21  For a more detailed discussion of the longer-run framework, see Lorie K. Logan (2017), “Implementing Monetary Policy: Perspective from the Open Market Trading Desk,” speech delivered at the Money Marketeers of New York University, New York, May 18, https://www.newyorkfed.org/newsevents/speeches/2017/log170518.
Graph 11  8  BIS central bankers’ speeches  The swap lines ran off in early 2010 and while the major central banks maintained them at 7-day terms, they were barely utilised. In September 2011, three-month terms were re-introduced by the major central banks.