Financial System

In common with central banks around the world, one of the functions of the Bank of Canada is to act as a "lender of last resort" (LLR). The Bank's LLR policies, and links to related documents, are found below.

Bank of Canada Lender-of-Last-Resort Policies:

1. Introduction
2. Standing Liquidity Facility (SLF)
1. Terms of the SLF
2. Access to Bank of Canada settlement accounts and the SLF
3. Emergency Lending Assistance (ELA)
1. Terms and conditions of ELA
2. Eligibility Criteria for ELA
3. Implications Regarding Eligibility for ELA
4. Managing ELA
5. Foreign currency ELA
4. The Relationship between the SLF and ELA
5. Systemic Risk and Bank of Canada Intervention
6. Forced LVTS Loans
7. Assets Eligible as Collateral under the Bank of Canada Standing Liquidity Facility