In the initial March and April part of the crisis, the focus was very much on restoring market function. The whole financial system was clogged. Credit markets were very strained. We came in and bought heavily at the very short end of the curve, which was key to restoring market functioning.
As market functioning has been restored, we've discontinued a number of our programs. We've continued our government bond purchase program, though, as a way to provide quantitative easing. With that, we've shifted to buying further up the curve. Households and businesses typically borrow for three, five, 10, or 15 years. That's the part of the yield curve where they're borrowing the most. Our QE program is really targeted at lowering their cost of borrowing, so we're concentrating our purchasing power at that part of the curve. In that way, it sort of maximizes the per dollar impact of our purchases.