This monetary easing counters other factors – such as tighter lending conditions and wider-than-usual yield spreads on corporate bonds – that would otherwise have resulted in tighter overall financial conditions. Other central banks, given the situations they have been facing, have gone even further by providing additional stimulus through quantitative and/or credit easing.
Over time, as the bank boards are professionalized, executive appointment decisions should devolve from the BBB to the boards themselves, while the BBB – as it transforms into the Bank 4  BIS central bankers’ speeches  Investment Company (BIC), the custodian for the Government’s stake in banks -- should focus only on appointing directors to represent the government stake on the bank boards.