The Bank of Canada (the Bank) is announcing the launch of its new liquidity facility, the Standing Term Liquidity Facility (STLF), effective March 30, 2020.
As previously announced, the Bank of Canada (Bank) will conduct the first operation under the Banker’s Acceptance Purchase Facility (BAPF) on Monday, March 23, 2020. The operational details have been adjusted based on market conditions to the following
The Bank of Canada (Bank) is committed to supporting the efficient and continuous functioning of financial markets during the current period of uncertainty in which conditions are evolving rapidly.
The Bank of Canada today announced that it has completed arrangements for all employees to telework until further notice to protect the health of our staff and reduce the risk of transmission of COVID-19.
Under its Standing Liquidity Facility (SLF), the Bank of Canada is prepared to provide liquidity on a daily basis to financial institutions that participate directly in the payments systems operated by Payments Canada. Loans made by the Bank of Canada must be fully collateralized.
The Bank of Canada has been working hard to ensure the financial system has sufficient liquidity so that credit continues to be available to businesses and households.