These measures – which for very good reasons are of a temporary nature, with some of them already being discontinued, as I will discuss at the end of my talk – can be grouped into five categories:   First, fixed rate tenders with full allotment in all liquidity-providing operations.
11 Though they are far from the whole story, such dynamics are central to the understanding of the current financial crisis. 12 The first line of defence is better regulation While misery loves company, we must be careful not to generalize recent failings.