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December 23, 2004
Bank of Canada Lender-of-Last-Resort Policies
The Bank of Canada has distinct roles as a lender of last resort. This article outlines how and under what circumstances the Bank can routinely provide liquidity to facilitate payment settlement, as well as the various ways it can respond in more exceptional situations.
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December 12, 2004
Housing and the Macroeconomy
Conference held on 12 to 14 December 2004 (papers in unedited, electronic format only) -
December 9, 2004
Financial System Efficiency: A Canadian Imperative
When I talk about the "financial system," I am referring to financial institutions and markets, the infrastructure, laws, and regulations that govern and support their operations, and the macroeconomic framework within which they operate. My message for you is that improving the efficiency of Canada's financial system is imperative.