Eventually, they turned to their second line of defence, with direct capital injections to support the banks. In the euro area,  BIS Review 13/2010  2  this order was reversed, with authorities more focussed on the banking sector and turning to asset support as a second line of defence. 2.
Preparing for the future  Having described the recent policy response to the crisis, I turn now to the challenges that remain for the future. I will divide my remarks in three parts. First, the immediate challenge is to implement exit strategies from the current extraordinary monetary and fiscal measures.