In this respect, the Bank has signed Memoranda of Understanding (MoUs) with several domestic and foreign regulatory authorities. The Banking Act 2004 allows the Bank to share information with any other central bank, under conditions of confidentiality. We are mindful, at the Bank, that exchange of information is crucial with regulators of countries where our banking groups hold a regional presence.
Reflecting these differences in the structure of financial intermediation, the Federal Reserve has been conducting large-scale purchases of assets such as CP and real estate mortgage-backed securities (RMBS) directly in the markets to restore the functioning of capital markets. The Federal Reserve calls it a "credit easing policy."