The Bank announces changes to its framework for financial market operations and emergency lending assistance policies and provides summaries of its public consultations.
As announced today, the Bank of Canada is introducing 1- and 3-month Term Repo operations that will be built up to a target portfolio size of $7 billion to $10 billion over a 6 month implementation period. Below is the preliminary schedule and amounts for the October to December quarter.
Following the release of the draft Terms for Auctions of Government of Canada Ultra-Long Bonds (proposal) by the Bank of Canada, a three-week consultation period, ending 10 July 2015, was held.
As part of an exercise to test the operational readiness of existing standing swap arrangements with other central banks, the Bank of Canada will conduct a small-value Canadian-dollar operation with the Bank of England, drawing British pounds against Canadian dollars.
As part of the ongoing review of the collateral policy related to the Bank of Canada’s Standing Liquidity Facility (SLF), the Bank has revised the margin requirements applied to certain securities accepted as SLF collateral.