1 In March 2008, responding to the escalating pressures on primary dealers, the Federal Reserve used its statutory emergency lending powers to establish the Primary Dealer Credit Facility and the Term Securities Lending Facility as sources of backstop liquidity for those firms.
People also wonder with contactless payments now so ubiquitous, do we still need banknotes? Given these questions, it might surprise you then to know that the demand for banknotes in Australia is still strong. The stock of banknotes on issue, relative to the size of the economy, is close to the highest it has been in 50 years.