In particular, we adjusted the distribution of euro liquidity supplied over the course of the maintenance period, in contrast to normal times, by frontloading the supply of liquidity at the beginning of the period and reducing it later, so that the total amount of liquidity over an entire maintenance period remained unchanged.
Furthermore, we increased the amount of refinancing provided via longer-term refinancing operations significantly with a view to smoothening conditions in the term money market. As a result of these measures, the average level of EONIA has remained close to the minimum bid rate, though with a higher volatility than before the start of the turbulences.