It also dropped the interest rate to a historical low of 1.5%, which reduces the cost of financing for entities granted such support and stimulates economic growth. As a result of these steps, the banking sector now has high liquidity levels and maneuvering capacity that enable it to fulfill its duty as financial intermediary. Central Bank of Kuwait - Public ‫ عام‬- ‫بنك الكويت المركزي‬  -6-  The Role of the Government: The role of the government takes on an even greater importance amid the current conditions. The lockdown measures caused an unprecedented shock to both supply and demand, this coincided with a sharp decline in oil prices that brought down government revenues. The Committee was therefore keen to provide maximum support to guarantee that the economy keeps running, while simultaneously reducing cost to public funds to a minimum, through the proper allocation of resources and reliance on measures that have the biggest impact with the least cost possible. Among these measures was drawing up a government financing support and guarantee scheme, which was presented to the Council of Ministers by the Committee on 5 June 2020. Government financing support and guarantee scheme: The committee forwarded a proposed government financing support and guarantee scheme to the Council of Ministers to decide and take appropriate action in this respect.
Ms Hessius discusses the role of the central bank and market liquidity  Speech given by Ms Kerstin Hessius, Deputy Governor of the Sveriges Riksbank, at a seminar of Sveriges Finansanalytiker Förening on 14 September 1999. *  *  *  The financial sector plays a central role in our society’s economy. It is this sector that enables us to make payments, to transform savings into investments or future consumption and to spread and minimise potential financial risks. It is therefore essential that the financial sector functions smoothly when we pass from one millennium into the next. Many actors share the responsibility of a smooth transition. Naturally, the Swedish Riksbank is one party involved, but everyone – from private savers and investors to public authorities and the media – must bear their part of the responsibility. Agents in the financial sector addressed early the potential problems that may arise in connection with the transition to a new millennium. Substantial resources have been devoted to measures designed to minimise the risk of any technical problems arising and to ensure that all systems can cope with the transition. The Financial Supervisory Authority has closely monitored work on systems adaptation since 1997. The role of the Riksbank in this connection is bound up with our regular tasks as Central Bank in the economy – to implement monetary policy, to promote a secure and efficient system of payments and to ensure that sufficient notes and coins are available in the economy.