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BOC: Introducing a new Standing Term.........>

CANADA: BOC: Introducing a new Standing Term Liquidity Facility (STLF)
- STLF is a liquidity provision tool for financial institutions facing liquidity
stress; where BOC has no concerns about their financial soundness. 
- STLF will provide funds for operational incidents, like cyber attacks, system
failures and natural disasters.
- STLF would not provide liquidity facilities during market crises, with the ELA
remaining the BOC's tool for that contingency. 
- STLF marks another step in the BOC's effort to enhance the resilience of the
Canadian financial system.
- Financial institutions must be a prudentially regulated members of Payment
Canada to be eligible for the loan.
- STLF is a short-term fund (30 days). 

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