在过去的几年里，非常规货币政策得到了越来越多的使用。这类银行沉迷于量化宽松，从商业银行购买金融资产(Cecioni, Ferrero, and Secchi, 2011)。主要的中央银行被发现使用国库券，抵押贷款支持证券。这是通过提高证券价格来降低收益率，从而增加货币供应量。
信贷宽松是一种非常规的货币工具，已被私营部门用来提高流动性。已经观察到，信令是利用公共通信来缓解市场对政策变化的担忧的实践(Cecioni, Ferrero, and Secchi, 2011)。
In the past few years unconventional monetary policy has become more and more in use. In this category the banks indulge in quantitate easing, purchase of financial assets from commercial banks (Cecioni, Ferrero, and Secchi, 2011). Major centralized banks are found to use treasury notes, mortgage-backed securities. This is raising the pricing of the securities to lower the yield and this will subsequently increase the money supply.
Risks attached to unconventional measure
Credit easing is an unconventional monetary tool that has been used by the private sector to boost the liquidity. It has been observed that signaling is the practice of utilization of public communication to ease the market that is worried about policy changes (Cecioni, Ferrero, and Secchi, 2011).
This form of unconventional measures becomes mandatory in some times. It is sometimes deemed that is very important to set unconventional measures to manage the market uncertainties (Smaghi, 2009). However there are some risks involved in this unconventional measure.
The major risks are the impediment to the Exit strategy of the company.
In this process of current unconventional policies, sometimes the bank will need to act slowly thereby prolonging the exit strategy of the company. In the second case there is longer holding of the securities that adds to the political burdens of the feds in this process. Generally there is a feeling of general apprehensiveness in the public (Smaghi, 2009). It is also a relatively newer measure and there is a fear about the actual policy implementation of the unconventional measures.
This pressure on the political aspects transcends to the financial policy of the company. In this scenario there is additional pressure to the central banks that causes them higher risk of losing their independence.