Bank of Canada plans new emergency liquidity facility
The Bank of Canada plans to introduce a new liquidity facility to offer banks cash during emergencies, such as cyber threats or extreme weather events.
The Standing Term Liquidity Facility (STLF), will offer 30-day term collateralised funding to banks during liquidity shocks.
More banks will be eligible to use the new facility than can use the central bank’s standing liquidity facility (SLT). Only larger banks are authorised to access the SLF, which the Bank of Canada uses to reinforce its
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