This is corroborated by recent research applied to the US experience which suggests that, once anticipation effects are taken into account, the later rounds of large-scale asset purchases undertaken by the Federal Reserve remained powerful.
We are happy to learn therefore that Quezon City-based coops in cooperation with the Office of the Mayor initiated discussions with the Bangko Sentral for the creation of its own CSF. Thus today, we have 12 cooperatives who have initially contributed P3.95 million to the CSF while the Quezon City government will give a counterpart contribution of P5 million.