The Federal Reserve took a page from its 2008 crisis-era playbook in an attempt to stem investor panic over the spread of the coronavirus, according to Wall Street Journal reports. The Federal Reserve Bank of New York on Monday announced that it would ramp up the amount of short-term loans it offers banks, in an effort to keep cash flowing smoothly through the financial system.

Between Monday and Thursday, the New York Fed pledged to increase its daily offering of overnight repurchase agreements — essentially short-term loans to eligible banks — to at least $150 billion from $100 billion. It is also increasing its offering of two-week loans starting Tuesday, to at least $45 billion from at least $20 billion.

The moves “are intended to ensure that the supply of reserves remains ample and to mitigate the risk of money market pressures,” the New York Fed said in a statement.

“This should help support smooth functioning of funding markets as market participants implement business resiliency plans in response to the coronavirus,” the statement said, adding that the Fed will “continue to adjust” operations as needed.

The infection has now sickened more than 113,000 people, and as it spreads through the United States and Europe, worries are mounting that growth will slow dramatically. That, together with plunging oil prices, has sent global markets into turmoil. Although senior living investors say they are watching the markets closely, to date, so far they don’t foresee long-term financial implications, said Dan Hermann, Ziegler’s president and CEO and head of investment banking.

“We are seeing a flight to safety, as investors migrate to those deemed the safest investments and senior living capital markets might pause for a short period for those lower-grade credits and those deemed higher risks,” Hermann said. “But we have been at historically low borrowing rates for providers for some time, even prior to the coronavirus volatility. Ziegler is confident that the market disruption will play out as the virus is contained through broad-based market and consumer education and containment efforts currently underway.”