Bank of Canada Welcomes Further Central Bank Actions to Provide U.S. Dollar Liquidity to Financial Markets

Central banks recently announced coordinated actions to expand the provision of U.S. dollar liquidity.

Today, the central banks are announcing schedules for term and forward auctions of U.S. dollar liquidity during the fourth quarter of this year. These schedules include dates of any 28-day and 84-day term auctions and two preliminary dates for any forward auctions of U.S. dollar liquidity over year-end. Scheduling of the forward auctions is still tentative and may be adjusted in response to financial market conditions.

The Bank of Canada welcomes these initiatives. The Bank judges that it is not necessary for it to participate in these auctions at this time.

The Bank of Canada continues to closely monitor global market developments and remains committed to providing liquidity as required to support the stability of the Canadian financial system and the functioning of financial markets.

Information on Related Actions Being Taken by Other Central Banks

Information on the actions taken by other central banks is available at the following websites.

Bank of England
Bank of Japan
European Central Bank
Federal Reserve System
Swiss National Bank

For further information, please contact:
Jill Vardy
613 782-8782