The Bank of Canada is winding down three emergency programs it set up to provide support to financial institutions during the early days of the pandemic, as demand for all three programs is falling now that things are getting back to normal. The central bank said it was willing to take on up to $500 million worth of mortgages a week as of March, and some weeks came close to that threshold. All of these liquidity programs winding down are a sign that the financial system is getting back to normal, and the bank no longer feels obligated to roll out emergency programs to keep things running. "There has not been any take-up in the Bank of Canada's term-repo operations for four consecutive weeks now," Pollick said. "The Bank remains committed to providing liquidity as required to support the functioning of the Canadian financial system," the Bank of Canada said.

Source: CBC News October 16, 2020 14:54 UTC