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BoC Increases Limits For Repo Ops

CANADA
  • The Bank of Canada is to increase the maximum total bidding amount for all securities in the Securities Repo Operation (SRO) to $5,000M for each counterparty from the $4,000M that had been raised in April 2021.
  • The maximum bid rate will remain 10bps below the overnight rate target.
  • The Overnight Reverse Repo (ORR) operation counterparty limit will likewise increase to $5,000 million, less any amount the counterparty has transacted that day in the Bank’s SRO. ORR operations will continue to be conducted at the target for the overnight rate.
  • It will be effective from Apr 25.
  • The official press release: https://www.bankofcanada.ca/2022/04/increases-limit-securities-repo-operations/
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