Central Banking

BoC annouces monetary operations changes

CANADA - The Bank of Canada is changing two of its operational procedures relating to the Large Value Transfer System (LVTS), effective 2 April 2001.

First, the Bank will discontinue the second round of special purchase and resale agreements or sale and repurchase agreements except in extraordinary circumstances. The need for a second round, which was initiated in September 1999 to reinforce the Bank's objective for the overnight interest rate, has diminished markedly.

Second, the Bank of Cana

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