And if they do, will it actually impact liquidity? You can lead a bank to liquid, but you can't make them lend...

Nope it will not. It's just the opposite of gaslighting, but the real economy doesn't care. The liquidity in our economy is basically debt, collateralised or not.. the capitalistic economy everyone talks about is a debt economy were the small amount of capital is lent, borrowed, rehypothecated and re-lent dozens of time.. until someone finds out and starts to take of his little amount stoppong the music and looking for a seat.

I do half expect the big print to come in the form of major subsidies for oil, to both try to shore up liquidity AND tamp down on the demand destruction (and minimize consumer price inflationary impacts of it). Not sure how they'd go about executing it but it seems like the only way of threading the needle of boosting liquidity without exacerbating the price environment amid the oil squeeze. Might help keep plates spinning a little while longer...