1.   The sterling money market in London is the device used by banks and others to adjust their liquidity.

2.   By eligible bills is meant any instrument which the Bank is prepared to buy as part of its money market operations to adjust liquidity in the banking system.

3.   In an absence of a well-developed bond market, financial institutions were denied a tool to adjust their liquidity in times of currency attack.

4.   It turned instead to the repurchase market, where financial institutions adjust their liquidity by selling or buying bonds.

5.   The central bank would continue issuing NCDs in stages to adjust liquidity in the banking system aimed at stabilizing financial markets, they added.