Natasha Khan is the Deputy Managing Director (DMD) in the Financial Stability Department (FSD). In this role she contributes to the strategic direction and management of the department. She also provides leadership in the development of policy advice to support the Bank’s crisis management role including the provision of central bank liquidity to regulated financial institutions and the Bank’s mandate as resolution authority for domestic designated Financial Market Infrastructures (FMIs). Natasha joined the Bank in 2004 and has held positions in the Financial Markets Department (FMD) and Banking and Payments Department (BAP). She has extensive knowledge of the financial system and experience in supporting teams through periods of change.
Cryptoassets that reference a national currency (commonly known as stablecoins) aim to peg their value to the reference currency and typically use a reserve of traditional financial assets to maintain the peg. The market value of these fiat-referenced cryptoassets has grown more than thirtyfold between early 2020 and mid-2022. We explore some of their potential benefits and key risks.
Emergency Lending Assistance (ELA) is a discretionary last-resort collateralized loan or ad-vance by the Bank of Canada to eligible financial institutions (FIs) and financial market infrastructures (FMIs) facing serious liquidity problems. In December 2015, the Bank revised its ELA policy to (i) replace the requirement for an FI’s solvency with the requirement for a credible recovery and resolution framework; (ii) include mortgages as eligible collateral; and (iii) clarify both the eligibility requirements for FMIs and provincially regulated deposit-taking FIs.
