During local bank runs or systemic liquidity shortages, the central bank’s market operations desk must transition rapidly from routine portfolio asset management to active system-wide stabilization.
The Emergency Liquidity Operations Pipeline
[System Liquidity Stress Flags] 
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[Activate Contingency Funding Frameworks] ----> Deploys emergency cash lines via discount window
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[Ingest Domestic Pledged Collateral Assets] ---> Broadens eligible collateral definitions
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[Restore Interbank Payment Velocities] --------> Halts localized credit contagio
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