Bank of Canada Facilities
Taking Action
From the start of the global credit crisis in August of 2007, the Bank of Canada has responded to the challenges facing the Canadian financial system. In order to promote liquidity in the markets, and to alleviate funding pressures, the Bank of Canada initiated term lending facilities in late 2007. The Bank has continued to support the liquidity and stability of the Canadian financial system by broadening the list of eligible collateral and counterparties for its term facilities.
More information:
Meeting Monetary Policy Objectives
As well, the Bank lowered the target for the overnight rate, and has outlined a framework for quantitative and credit easing measures to lower longer-term borrowing rates, to help ensure we continue to hit our inflation target.