BoC announces new securities lending programme
Move is consistent with BIS recommendations, central bank says
The Bank of Canada has announced a new repurchase operation, which will provide banks with a temporary source of Canadian government securities.
The Securities Repo Operations (SRO) will launch on July 27, offering a daily overnight source of bonds via a fixed-rate auction process. The central bank will make up to 50% of its government bond holdings available every day to eligible primary dealers.
The SRO is consistent with recommendations from the Bank for International Settlements, the Bank
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