Close to two-fifths of banks surveyed in the October 2016 BLS reported a net improvement in their market financing conditions owing to the APP – up from one-fifth in the April survey – in particular for financing via covered bonds and unsecured bank bonds, but also via ABS issuance.
They can, however, have undesirable side effects as well. [8] While combating the crisis, monetary policy in a sense followed in the footsteps of discoverers and explorers such as Alexander von Humboldt. Central banks ventured into what was until then largely uncharted territory, armed with a raft of non-standard measures, and are still in the process of exploring this new monetary policy landscape.