And second, they carry the risk of damaging the financial health of the Bank and ultimately undermining confidence in the currency and monetary policy. The Bank nevertheless decided to introduce such exceptional measures, with the conditions that the measures be temporary until the market functions again, and that upper limits to total purchases be set.
BIS Review 47/2010  5  C.  Reduction of interest rates on term instruments: the most effective way to support the economy  The Bank’s policy rate is the uncollateralized overnight call rate. Since the Lehman shock, however, I have attached importance to the reduction of longer-term interest rates – that is, interest rates on term instruments.