In response to the credit crunch in 2007/2008, central banks in several countries extended their willingness to lend to banks.

Question

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Central banks around the world, including the Federal Reserve in the United States and the European Central Bank, implemented various measures to increase liquidity in the banking system, such as lowering interest rates and providing emergency lending facilities to banks, in response to the credit crunch.

In Response to the Credit Crunch in 2007/2008, Central Banks