Reserve Bank deputy governor Ric Battellino offered a word of caution to all the commentators offering their verdicts on the deposits and funding guarantees, AOFM market support, RBA liquidity facilities and other measures to support the financial system: judgement is premature.Speaking at the Securities and Derivatives Industry Association conference in Sydney yesterday, Battellino said: "As with normal monetary policy, the impact of these various unconventional measures is likely to take quite some time to become apparent."This is particularly the case for measures involving bank reserves."Given the relatively limited time that most of these measures have been in place, it is premature at this stage to draw any firm conclusions about their effectiveness."Battellino said one discernible impact was on market prices, which appear to be returning to normal.He reminded his audience that measures taken by the Bank of Japan to increase banks' reserve balances in 2001 had effects that played out over the next five years."With central banks doing unconventional things it is not surprising that there is considerable debate about the effectiveness and consequences of the various measures."