Recent Changes to the Bank of Canada’s Emergency Lending Assistance Policy
Natasha Khan and
Additional contact information
Alexandra Lai: Bank of Canada, http://www.bankofcanada.ca/
Bank of Canada Review, 2016, vol. 2016, issue Autumn, 25-34
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.
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
http://www.bankofcanada.ca/wp-content/uploads/2016 ... -autumn16-graham.pdf full text (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bca:bcarev:v:2016:y:2016:i:autumn16:p:25-34
Access Statistics for this article
More articles in Bank of Canada Review from Bank of Canada 234 Wellington Street, Ottawa, Ontario, K1A 0G9, Canada.
Series data maintained by ().