You have to read between the lines here. They did this because there was not enough liquidity to cover the institutional sell off in the bond market. In other

You have to read between the lines here. They did this because there was not enough liquidity to cover the institutional sell off in the bond market. In other words, had they not done this, there very well could have been a run on the banks. That would be very very bad. You can’t fight the virus if hospitals can’t pay doctors.