Get quick access to details and data—including terms and conditions, schedules and results.
Overnight facilities and operations
Overnight repo operations
The Bank conducts overnight repo (OR) operations to ensure the effective implementation of our monetary policy framework. These operations inject liquidity intraday, reinforcing the Bank’s target for the overnight rate.
Overnight reverse repo operations
The Bank conducts overnight reverse repo (ORR) operations to ensure the effective implementation of our monetary policy framework. These operations withdraw liquidity intraday, reinforcing the Bank’s target for the overnight rate.
Overnight Standing Repo Facility
The Bank makes its Overnight Standing Repo Facility available to primary dealers in order to help reinforce the upper limit (Bank rate) of the operating band for overnight interest rates.
Securities Lending Program
The Bank of Canada’s Securities Lending Program (SLP) provides a temporary source of Government of Canada nominal bonds and treasury bills to primary dealers to support liquidity in the securities financing market.
Discontinued programs
Securities Repo Operations
The Bank of Canada’s Securities Repo Operations (SROs) program provides a temporary source of Government of Canada nominal bonds and treasury bills to primary dealers to support liquidity in the securities financing market. The Bank makes a portion of its holdings of these securities available on an overnight basis through daily repurchase operations.
Term facilities and operations
Standing Term Liquidity Facility
Under the Standing Term Liquidity Facility (STLF), the Bank can provide loans to eligible financial institutions in need of temporary liquidity support if the Bank has no concerns about the institution’s financial soundness.
Suspended programs
Term repos
These operations, where assets are acquired temporarily through the secondary market, are conducted to manage the Bank’s balance sheet and to promote the orderly functioning of Canadian financial markets.
Contingent Term Repo Facility
The Contingent Term Repo Facility (CTRF) is the Bank of Canada’s standing repo facility to counter any severe market-wide liquidity stresses and support the stability of the Canadian financial system.
Asset purchase programs
Discontinued programs
Bankers’ Acceptance Purchase Facility
To support the continuous functioning of financial markets, the Bank of Canada purchases Bankers’ Acceptances (BAs) in the secondary market through the Bankers’ Acceptance Purchase Facility (BAPF).
Canada Mortgage Bond Purchase Program
The Bank of Canada may purchase Canada Mortgage Bonds (CMBs) to manage its balance sheet or support market functioning.
Commercial Paper Purchase Program
The Commercial Paper Purchase Program (CPPP) supports the flow of credit to the economy by alleviating strains in Canada’s commercial paper markets.
Corporate Bond Purchase Program
The Corporate Bond Purchase Program (CBPP) supports the liquidity and proper functioning of the corporate debt market, by purchasing bonds through a tender process in the secondary market.
Government of Canada Bond Purchase Program
The Government of Canada Bond Purchase Program (GBPP) was established to address strains in the Government of Canada bond market, and to enhance the effectiveness of other actions taken to support core funding markets.
Provincial Bond Purchase Program
The Provincial Bond Purchase Program (PBPP) aims to support the liquidity and efficiency of provincial government funding markets. It supplements the Provincial Money Market Purchase Program (PMMP).
Provincial Money Market Purchase Program
The Provincial Money Market Purchase (PMMP) program is an asset purchase facility that acquires provincially-issued money market securities through the primary issuance market.