The central banks reacted by making it easier for banks to access central bank liquidity along several dimensions in order to support their capacity to lend to the private sector.
3  It will also reinvest maturing existing holdings amounting to about $ billion to $ billion. 2  BIS Review 170/2010  The exchange rate is another important channel. As returns on U.S. assets fall, investors could seek alternative investments outside the country, weakening the currency, boosting exports and curbing imports.