Canada
During the crisis, Canada established the Standing Liquidity Facility which is employed to supply liquidity to banks and the markets. Many changes occurred at the Bank of Canada (BOC).
The Bank either eliminated whole classes of securities used as collateral or implemented higher margin requirements to prevent collateralization. The preferred list of collateral includes either Canadian dollar assets or U.S. Treasuries. Margin requirements for U.S. Treasuries are consistent with Canadian assets such as Canadian bonds, but a 4 percent rate is charged to account for FX risk. Yet margins were raised. For example, Canadian Government Securities are scheduled for 0.5 percent margin up to one-year maturities, 1.0 percent for one to three years, ...
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