October 26, 2023
Market notices, Press releases
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October 26, 2023
Bank of Canada announces changes to Overnight Reverse Repo operations
The Bank’s Overnight Reverse Repo (ORR) operations help reinforce the Bank’s target for the overnight rate in a floor system with large settlement balances. -
October 25, 2023
Bank of Canada maintains policy rate, continues quantitative tightening
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. -
October 16, 2023
CFIF recommends path for winding down BA market
Bankers’ Acceptances (BAs) will no longer be issued by the major Canadian banks after the cessation of the Canadian Dollar Offered Rate’s (CDOR) publication in June 2024. -
October 13, 2023
Bank of Canada designates additional prominent payment systems
Bank of Canada Governor Tiff Macklem has designated Visa Inc.’s VisaNet, Mastercard International Inc.’s Global Clearing Management System and Single Message System, and Interac Corp.’s Inter-Member Network as prominent payment systems under the Payment Clearing and Settlement Act, effective October 16, 2023. -
September 13, 2023
CFIF publishes an update on the transition away from BAs
With the cessation of the Canadian Dollar Offered Rate’s (CDOR) publication in June 2024, Bankers’ Acceptances (BA) will no longer be issued by the major Canadian banks. -
September 6, 2023
Bank of Canada maintains policy rate, continues quantitative tightening
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. -
August 29, 2023
CARR finalizes the allowed uses for Term CORRA
Today, the Canadian Alternative Reference Rate working group (CARR) finalized its guidance on the allowable use cases for Term CORRA. -
August 28, 2023
Debt Management Strategy Consultations – 2024-25
The Department of Finance and the Bank of Canada are seeking the views of government securities distributors, institutional investors, and other interested parties on issues related to the design and operation of the Government of Canada’s domestic debt program for 2024-25 and beyond. -
August 10, 2023
Term CORRA to be launched on September 5, 2023
In January, CARR announced the development of a Term CORRA benchmark that was designed to be a robust benchmark that adheres to IOSCO’s Principles for Financial Benchmarks.