I am sure that many here have close relationships with banks in other countries. Let me urge you to delve deeply into preparations for Year 2000, and if there is evidence of a potential readiness shortfall, do everything in your power to urge the institution to get active very quickly.
It may not be in the long term, but moving to price targets may come at the expense of price discovery. This links to the second complication: balance sheet policies can mitigate certain facets of the safe asset shortage, but they might exacerbate others. In particular, balance sheet policies have been stimulative by swapping central bank money for assets with duration and credit risk.