For details, see the TFF Operational Notes <https://www.rba.gov.au/mkt-operations/term-funding-facility/operational-notes.html>, or ‘The Term Funding Facility’, RBA Bulletin, December 2020. Available at <https://www.rba.gov.au/publications/bulletin/2020/dec/the-termfunding-facility.html>. [2]  The Australian Government created a complementary program of support for the non-bank financial sector, small lenders, and the securitisation market.
[3]  For an earlier discussion of this sort of mechanism see Kent C (2020) ‘The Stance of Monetary Policy in a World of Numerous Tools’, Address to the IFR Australia DCM Roundtable Webinar, Online, 20 October 2020. Available at <https://www.rba.gov.au/speeches/2020/sp-ag-2020-10-20.html>.