8  BIS central bankers’ speeches    the purchase of banks’ covered bonds to promote their liquidity at a time of market malfunction;    the purchase of government bonds of countries where the markets were seeing evident malfunctions that prevented a proper transmission of monetary policy. The last type of intervention here has been the subject of much public discussion.
4  BIS Review 85/2005  same time, old habits died hard so that as recently as March 1987 the Australian Government made its last overseas borrowing in the US market in US dollars. In time, overseas investors became comfortable with holding Australian government paper, semi and local paper, and eventually corporate bonds and asset-backed securities.