Similar moves to the Fed
- Announces expansion of bond buyback programs
- Announces expansion of term repo operations
- Measures aimed at supporting functioning of markets
- Buybacks will be conducted weekly
- Will add 6-month and 12-month repos
- Operations will occur bi-weekly starting March 17
This is similar to what the Fed announced today, only it's for 6-12 months rather than 3 months. The declines in Canadian banks over the past week have been extremely worrisome.
