August 10, 2020 Changes to the Bank of Canada’s Standing Liquidity Facility Policy Regarding the use of Non-Mortgage Loan Portfolio as Collateral Given the continued improvement in short-term funding conditions, the Bank of Canada (Bank) is announcing that the Bank’s temporary measure of allowing Large Value Transfer System (LVTS) participants to pledge 100 per cent of their total collateral using their non-mortgage loan portfolio (NMLP) for the LVTS and Standing Liquidity Facility (SLF) will be gradually reduced back to the regular level of 20 per cent of each participant's total pledged collateral. Content Type(s): Press, Market notices Source(s): Standing Liquidity Facility
August 10, 2020 Bank of Canada designates Interac e‑Transfer as a prominent payment system Media Relations Ottawa, Ontario Bank of Canada Governor Tiff Macklem has designated Interac e‑Transfer® as a prominent payment system under the Payment Clearing and Settlement Act, effective August 10, 2020. This brings Bank oversight to this payment system and ensures it remains a safe, viable and effective method of payment for Canadians. Content Type(s): Press, Press releases
Strengthening Inflation Targeting: Review and Renewal Processes in Canada and Other Advanced Jurisdictions Staff Discussion Paper 2020-7 Robert Amano, Thomas J. Carter, Lawrence L. Schembri We summarize the review and renewal process at four central banks (Reserve Bank of New Zealand, Bank of England, Sveriges Riksbank and the US Federal Reserve Bank) and compare them with the process at the Bank of Canada, which has been well-established since 2001. Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Inflation targets, Monetary policy framework JEL Code(s): E, E5, E52, E58
What COVID-19 revealed about the resilience of bond funds Staff Analytical Note 2020-18 Guillaume Ouellet Leblanc, Ryan Shotlander The liquidity management strategies of fund managers, supported by policy measures, have helped bond funds limit the increase in redemptions caused by COVID 19. This avoided further deterioration in liquidity in bond markets. Nevertheless, these funds were left with lower cash buffers, which could make them more vulnerable to additional large redemptions. Content Type(s): Staff research, Staff analytical notes Topic(s): Financial markets, Financial stability JEL Code(s): G, G1, G2, G20, G23
August 6, 2020 Indigenous Advisory Circle Learn about the mandate and individual members of the Indigenous Advisory Circle.
August 5, 2020 Retail Payments Advisory Committee The Interim Retail Payments Advisory Committee (RPAC) is a forum set up by the Bank of Canada to gather industry expertise about the retail payment services landscape. The Bank is designing and getting ready to implement the Retail Payments Supervisory Framework.
August 5, 2020 Retail payments supervision Under the Retail Payment Activities Act, the Bank of Canada will be responsible for supervising payment service providers. Our aim is to build confidence in the safety and reliability of their services while protecting users from certain risks. Payment service providers will be required to register with the Bank and to comply with requirements for operational risk management and safeguarding end-user funds.
July 31, 2020 Let's Talk Inflation Learn why we consulted with Canadians on renewing our monetary policy framework—and find out what we heard and what happens next.
July 30, 2020 Bank of Canada publishes its 2021 schedule for policy interest rate announcements and other major publications, makes change to effective date of rate decisions Media Relations Ottawa, Ontario The Bank of Canada today published its 2021 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report. It also reconfirmed the scheduled interest rate announcement dates for the remainder of this year. Content Type(s): Press, Press releases
July 29, 2020 Interim RPAC Meeting (July 29 and 30, 2020) Topics: Holding and safeguarding of end-user funds, operational risk Content Type(s): Meetings Source(s): Retail Payments Advisory Committee