These steps were aimed at restoring financial market functioning and the flow of credit, and at ensuring that our banks have the capital and the liquidity necessary to discharge their critical function even in an acute economic downturn. Before going into detail, allow me to say that the crisis has brought out the best in terms of international cooperation.
Leading central banks around the globe, including the Bank of Japan and the ECB, have cooperated intimately to alleviate financing strains in interbank markets.