We examine how the eight largest Canadian public pension funds managed liquidity during the market turmoil in March 2020. The funds were generally resilient to large demands for liquidity and relied heavily on Canada's core funding markets.
Jean-Philippe Dion is Director of Market Structure and Regulation in the Bank of Canada’s Financial Markets Department.
Staff analytical notes
Staff working papers
This paper provides a framework to compare linked and unlinked CCP configurations in terms of total netting achieved by market participants and the total system default exposures that exist between participants and CCPs.