Within the context of the Committee’s judgment about the appropriate overall level of monetary accommodation, such an adjustment could result in an increase or decrease in the pace of total asset purchases, or it could lead to a change in the composition of purchases.
Furthermore, public guarantees were extended to bank loans to ensure that companies could attain credit. Supervisors used the flexibility built into the legislative framework and relaxed the available capital buffers, further enabling banks to keep lending. And these are just some of the examples of how the public sector has supported the economy amid COVID-19.