Second, the central bank intends to expand its list of eligible collateral that banks can use to obtain financing using standard liquidity support instruments. The NBU is looking into the possibility of incorporating government-guaranteed corporate bonds and municipal bonds into the pool of eligible collateral.
According to this view, attempts to impose an independent central bank and with it a more purposeful anti-inflationary stance in a country tolerant of inflation, are doomed to failure. The outcry against restrictive policies would simply be too great for the central bank to withstand.