The Bank of Canada (Bank) is committed to supporting the efficient and continuous functioning of financial markets during the current period of uncertainty in which conditions are evolving rapidly.
The Bank of Canada today announced that it has completed arrangements for all employees to telework until further notice to protect the health of our staff and reduce the risk of transmission of COVID-19.
Under its Standing Liquidity Facility (SLF), the Bank of Canada is prepared to provide liquidity on a daily basis to financial institutions that participate directly in the payments systems operated by Payments Canada. Loans made by the Bank of Canada must be fully collateralized.
The Bank of Canada has been working hard to ensure the financial system has sufficient liquidity so that credit continues to be available to businesses and households.
Consistent with the announcement that the Bank of Canada (the Bank), acting as fiscal agent, will extend its buybacks across all benchmark maturity sectors, The Bank is announcing today the following operations for this week and next week
As previously announced, the Bank of Canada (Bank) will conduct secondary market purchases of 1-month Bankers’ Acceptances issued and guaranteed by any Canadian bank and of sufficiently high quality, broadly equivalent to a minimum short-term credit rating of R-1 (low), under the Bankers’ Acceptance Purchase Facility (BAPF).
Governing Council’s decision to cut interest rates on Friday, 13 March, 2020 took place under unique circumstances. As such, Governing Council is offering this statement of its reasoning from the decision of March 13.
Consistent with the announcement that the Bank stands ready, as a proactive measure, to provide support to the Canada Mortgage Bond (CMB) market, the Bank will purchase CMBs in the secondary market through a competitive tender process.