Chronology of Crisis Response Measures

• December 21, 2010

  Bank of Canada Announces Extension of Expanded Swap Facility with U.S. Federal Reserve

  The Federal Open Market Committee has authorized an extension through 1 August 2011, of its temporary U.S. dollar liquidity swap arrangements with the Bank of Canada, the Bank of England, the European Central Bank, the Bank of Japan, and the Swiss National Bank. The swap arrangements, established in May 2010, had been authorized through January 2011.

  Content Type(s): Press, Market notices
• June 1, 2010

  Bank of Canada increases overnight rate target to 1/2 per cent and re-establishes normal functioning of the overnight market

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent.

  Content Type(s): Press, Press releases
• June 1, 2010

  Re-Establishment of the Standard Operating Framework for the Implementation of Monetary Policy

  Media Relations Ottawa, Ontario

  As part of the Bank of Canada's interest rate decision on 1 June 2010, the Bank will re-establish the standard operating framework for the implementation of monetary policy.

  Content Type(s): Press, Press releases
• May 9, 2010

  Bank of Canada Announces Swap Facility with U.S. Federal Reserve as part of Coordinated Central Bank Actions

  In response to the re-emergence of strains in U.S. dollar short-term funding markets in Europe, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank are announcing the re-establishment of temporary U.S. dollar liquidity swap facilities.

  Content Type(s): Press, Market notices
• April 20, 2010

  Bank of Canada Announces Updated Substitution Schedule for Outstanding Bank of Canada Term PRA Operations

  In accordance with today's policy rate announcement, no further Term PRA operations are scheduled. The last operation was conducted on 12 April 2010.

  Content Type(s): Press, Market notices
• April 20, 2010

  Bank of Canada maintains overnight rate target at 1/4 per cent; removes conditional commitment

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent.

  Content Type(s): Press, Press releases
• January 27, 2010

  Bank of Canada Confirms Expiration of Temporary Swap Facility with U.S. Federal Reserve

  In coordination with other central banks, the Bank of Canada confirms the expiration of its US $30 billion swap facility with the Federal Reserve on 1 February 2010. This facility, which was established to counter pressures in global funding markets, is no longer needed, given the improvements in financial market functioning seen over the past year.

  Content Type(s): Press, Market notices