Lehmann, Kristóf; Mátrai, Róbert; Pulai, György - In: MNB Bulletin 8 (2013) Special, pp. 98-107
The instruments applied by the ECB and the Fed1 during the crisis were based on similar principles, but as the ECB and the Fed function in different financial intermediary systems, they relied on different tools to respond to different types of challenges. Both institutions increased liquidity...