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.

Staff analytical notes

Potential benefits and key risks of fiat-referenced cryptoassets

Staff Analytical Note 2022-20 Hugh Ding, Natasha Khan, Bena Lands, Cameron MacDonald, Laura Zhao
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.

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Staff working papers

Impact of Electronic Trading Platforms on the Brokered Interdealer Market for Government of Canada Benchmark Bonds

Staff Working Paper 2007-5 Natasha Khan
This study examines the impact of increased transparency, brought about by the introduction of three electronic trading systems, on the brokered interdealer market for Government of Canada benchmark securities. Using the CanPX dataset for the 2-, 5-, 10-, and 30-year benchmarks, the paper finds some evidence of decreased bid-ask spreads for the 30-year benchmark in the months following the introduction of the electronic platforms.

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Bank publications

Bank of Canada Review articles

November 17, 2016

Recent Changes to the Bank of Canada’s Emergency Lending Assistance Policy

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.

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