These developments followed the establishment of the Term Auction Facility (which auctioned discount window credit to depository institutions) and also of liquidity swaps between the Federal Reserve and foreign central banks, which enabled those banks to lend dollars to commercial banks in their jurisdictions.
Thus, for instance, this year MRA allowed on line payment of taxes through select banks which, coupled with efiling of tax returns, is a major step forward. The Central Bank has the responsibility of maintaining the stability of the payments and financial system.