CA: BOC Real Time News items

  • Carney: G-7 mtg in Canada will focus on exits from stimulus, fiscal policies, and growthPosted:21/01/2010 16:17 GMT by NeedToKnowNews
  • BOC's Carney: Interest rates at appropriate level for inflation targetsPosted:21/01/2010 16:14 GMT by NeedToKnowNews
  • BOC's Jenkins will step down in April 2010Posted:29/10/2009 18:47 GMT by NeedToKnowNews
  • BOC: inflation to return to target, output gap to be closed in 2011Posted:20/10/2009 13:46 GMT by NeedToKnowNews
  • BOC reiterates leaving rates uncahnged until the end of 2010Posted:20/10/2009 13:45 GMT by NeedToKnowNews
  • BoC's C$1bln 273 Day Term PRA Yields 0.393% AvgPosted:19/10/2009 15:22 GMT by NeedToKnowNews
  • Flaherty: Some Nations Concerned About USDPosted:02/10/2009 18:21 GMT by NeedToKnowNews
  • Flaherty: Appropriate Bank Capital to be Emphasis of G7, Not Seeking Tax on BanksPosted:02/10/2009 17:59 GMT by NeedToKnowNews
  • BoC Releases The Weekly Financial StatisticsPosted:10/07/2009 23:56 GMT by NeedToKnowNews
    Details here
  • BoC Reduces Its Purchases Of Nominal Bonds @ Auctions To 5%Posted:09/07/2009 23:02 GMT by NeedToKnowNews
    This will help bring its holdings of Government of Canada securities more in line with the composition of the government's stock of marketable debt, consistent with the BoC policy for the management of its balance sheet, reported the central bank.
  • BoC to Auction At Least C$13.5bln of T-bills on July 21Posted:14/07/2009 2:21 GMT by NeedToKnowNews
    • C$7.8bln In 3 month bills
    • C$2.85bln In 6 month bills
    • C$2.85bln In 1 Year bills
  • BoC Releasess Weekly Financial StatisticsPosted:11/07/2009 13:24 GMT by NeedToKnowNews
    Details here
  • BoC To Auction Atleast C$12bln In T-bills On June 23Posted:16/07/2009 6:12 GMT by NeedToKnowNews
    BoC will sell the following T-bills on June 23
    • C$6.9bln In 3month bills
    • C$2.55bln In 6month bills
    • C$2.55bln In 1yr bills
  • BoC T-Bill Auction ResultsPosted:16/07/2009 6:11 GMT by NeedToKnowNews
    • BoCās C$9.2ln 3month T-bills yields 0.232% avg
    • BoCās C$3.4bln 6month T-bills yields 0.379% avg
    • BoCās C$3.4bln 1yr T-bills yields 0.597% avg
  • BoC Releasess Weekly Financial StatisticsPosted:11/07/2009 23:53 GMT by NeedToKnowNews
    Details here
  • Preview: BOC Expected Hold Rates @ 0.25%Posted:09/07/2009 12:01 GMT by NeedToKnowNews
    The Bank of Canada is expected to hold the overnight rate at 0.25% at todayās scheduled rate announcement @ 9:00am EDT. This follows the 25bp cut on April 21. Central bank-watchers will be monitoring the bank's statements carefully for any mention of CAD and alternate monetary policy moves.
  • Preview: BOC Expected Hold Rates @ 0.25%Posted:11/07/2009 16:46 GMT by NeedToKnowNews
    The Bank of Canada is expected to hold the overnight rate at 0.25% at tomorrowās scheduled rate announcement @ 9:00am EDT. This follows the 25bp cut on April 21. Central bank-watchers will be monitoring the bank's statements carefully for any mention of CAD and alternate monetary policy moves.
  • BoC To Auction At Least C$16bln In T-Bills On June 9Posted:11/07/2009 10:45 GMT by NeedToKnowNews
    BoC will sell the following T Bills On June 9
    • C$9.2bln In 3month bills
    • C$3.4bln In 6month bills
    • C$3.4bln In 1yr bills
  • BoC Released The Weekly Financial StatisticsPosted:15/07/2009 19:35 GMT by NeedToKnowNews
    Details here
  • BoC To Auction Atleast C$11.25bln In T-bills On June 9Posted:11/07/2009 10:45 GMT by NeedToKnowNews
    BoC will sell the following T-bills on May 12 C$6.45bln In 3month bills C$2.4bln In 6month bills C$2.4bln In 1yr bills
  • BoC T-Bill Auction ResultsPosted:11/07/2009 6:49 GMT by NeedToKnowNews
    BoCās C$7.4ln 3month T-bills yields 0.197% Avg BoCās C$2.8bln 6month T-bills yields 0.314% Avg BoCās C$2.8bln 1yr T-bills yields 0.477% Avg
  • BoC Makes Key Changes To Security Lending ProgramPosted:19/07/2009 1:04 GMT by NeedToKnowNews
    Details @ http://www.bank-banque-canada.ca/en/notices_fmd/2009/notice220509.html
  • BoC May Try New Approach To Setting Interest RatesPosted:09/07/2009 10:44 GMT by NeedToKnowNews
    BoC currently uses inflation rate targetting, or IT by aiming for a rate of inflation.The central bank uses it benchmark rates to keep the CPI moving @ 2% rate.
    Price level targetting, or PT, the new approach BoC is considering will set interest rates by letting prices rise to a level over a period of time. The arguement here would be that setting a goal for price levels over a certain period would improve stability as consumers and investors would have a clearer idea on valuing purchases or longer term assets.
    Research is still required before policy makers can opt for the switch.
  • BoC To Auction Atleast C$13bln In T-Bills On May 26Posted:09/07/2009 23:43 GMT by NeedToKnowNews
    BoC will sell the following T-bills on May 26 C$7.4bln In 3month bills C$2.8bln In 6month bills C$2.8bln In 1yr bills
  • BoC Releases The Weekly Financial StatisticsPosted:10/07/2009 11:57 GMT by NeedToKnowNews
    Details @ http://www.bankofcanada.ca/pdf/wfs.pdf
  • BoC Releases The Weekly Financial StatisticsPosted:12/07/2009 22:28 GMT by NeedToKnowNews
    Details @ http://www.bankofcanada.ca/pdf/wfs.pdf
  • BoC To Sell T-Bills On Apr 28Posted:10/07/2009 1:30 GMT by NeedToKnowNews
    BoC To Sell following T-bills on Apr 28 C$7.35bln in 3 month bills C$2.70bln in 6 month bills C$2.70bln in 1 yr bills
  • BoC's Business Outlook Survey Suggests Business Sentiment Remains NegativePosted:12/07/2009 0:17 GMT by NeedToKnowNews
    Sales are expected to slow over the next 12 months and many firms are anticipating outright declines in sales volumes. Input and output prices are also expected to grow @ a slower pace over the next 12 months as inflation expectations have declined.
  • BoC's Senior Loan Officer Survey Reports Tightening In Lending ConditionsPosted:12/07/2009 2:34 GMT by NeedToKnowNews
    The survey focuses on changes to business-lending practices in the first quarter of '09. The tightening was less widespread compared to the quarter prior, despite conditions continuing to tighten in both the pricing and the non pricing aspect of business lending.
  • BoC To Sell T-Bills On Apr 14Posted:10/07/2009 6:47 GMT by NeedToKnowNews
    BoC To Sell following T-bills on Apr 14 C$9.8bln in 3 month bills C$3.6bln in 6 month bills C$3.6bln in 1 yr bills
  • BoC Releases Weekly Financial Statistics Posted:10/07/2009 6:47 GMT by NeedToKnowNews
    Details @ http://www.bankofcanada.ca/pdf/wfs.pdf
  • BoC Releases '08 Annual Report Posted:10/07/2009 6:47 GMT by NeedToKnowNews
    Details @ http://www.bankofcanada.ca/en/annual/2008/annuel_report08.pdf
  • BoC Governor Mark Carney May Buy Commercial Paper To Boost GrowthPosted:09/07/2009 16:17 GMT by NeedToKnowNews
    The governor has almost run out of room for additional rate cuts, as one more could bring the rates to zero. Carney has won the support of Canadian PM, Stephen Harper to implement extraordinary monetary measures to push growth in the positive direction. He will detail rules on the monetary policy report (April 23) for how so-called quantitative and credit easing policies would work. They may include plans for purchases of corporate debt, including commercial paper, if needed to boost the economy, reported Bloomberg Canada.
  • Monetary & Fiscal Policy Action Will Be Felt In The Second Half Of '09 - CarneyPosted:15/07/2009 0:22 GMT by NeedToKnowNews
    It will also continue through 2010.
  • BoC To Sell T-Bills On Apr 14Posted:10/07/2009 15:26 GMT by NeedToKnowNews
    BoC To Sell following T-bills on Apr 14 C$7.35bln in 3 month bills C$2.70bln in 6 month bills C$2.70bln in 1 yr bills
  • BoCâs T-Bill Auction ResultsPosted:10/07/2009 15:26 GMT by NeedToKnowNews
    BoCās C$9.2bln 3month T-bills yields 0.416% Avg BoCās C$3.4bln 6month T-bills yields 0.511% Avg BoCās C$3.4bln 1yr T-bills yields 0.625% Avg
  • BoC Releases Weekly Financial StatisticsPosted:10/07/2009 14:54 GMT by NeedToKnowNews
    Details @ http://www.bankofcanada.ca/pdf/wfs.pdf
  • BoC Provides Further Details Of Bond SchedulePosted:10/07/2009 9:34 GMT by NeedToKnowNews
    Details @ http://www.bankofcanada.ca/en/notices_fmd/2009/not260309.html
  • BoC To Sell C$16bln In T-Bills On Mar 31Posted:10/07/2009 14:54 GMT by NeedToKnowNews
    BoC To Sell following T-bills on Mar 31 C$9.2bln in 3 month bills C$3.4bln in 6 month bills C$3.4bln in 1 yr bills
  • BoC To Sell T-Bills On Mar 31Posted:10/07/2009 14:54 GMT by NeedToKnowNews
    BoC To Sell following T-bills on Mar 31 C$7.35bln in 3 month bills C$2.70bln in 6 month bills C$2.70bln in 1 yr bills
  • BoC's T-Bill Auction ResultsPosted:10/07/2009 12:54 GMT by NeedToKnowNews
    BoCās C$8.6bln 3month T-bills yields 0.458% Avg BoCās C$3.2bln 6month T-bills yields 0.564% Avg BoCās C$3.2bln 1yr T-bills yields 0.675% Avg
  • BoC To Auction Atleast C$15bln In T-bills On Mar 17Posted:10/07/2009 12:54 GMT by NeedToKnowNews
    BoC will sell the following T-bills on Mar 17 C$8.6bln In 3month bills C$3.2bln In 6month bills C$3.2bln In 1yr bills
  • BoC To Enter 21 Day Term PRA TomorrowPosted:10/07/2009 8:22 GMT by NeedToKnowNews
    Amount: C$10bln Settlement Date: 12 March 2009 Maturity Date:2 April 2009
  • BoC Announces Final Details Of New Term PRA Posted:10/07/2009 12:53 GMT by NeedToKnowNews
    Details @ http://www.bank-banque-canada.ca/en/notices_fmd/2009/not060309_final_pra.html
  • BoC To Enter 28 Day TLF On Mar 9 Posted:10/07/2009 8:16 GMT by NeedToKnowNews
    Amount: C$2bln Settlement Date: 10 March 2009 Maturity Date:7 April 2009
  • BoC To Enter 14 Day Term PRA On Mar 9Posted:10/07/2009 8:26 GMT by NeedToKnowNews
    Amount: C$1bln Settlement Date: 11 March 2009 Maturity Date:25 March 2009
  • BoC To Enter C$2bln, 26day TLF TomorrowPosted:09/07/2009 18:11 GMT by NeedToKnowNews
    Settlement date will be March 5 and maturity date will be March 31.
  • BoC To Auction Atleast C$12bln In T-bills On Mar 17Posted:10/07/2009 12:53 GMT by NeedToKnowNews
    BoC will sell the following T-bills on Mar 17 C$6.9bln In 3month bills C$2.55bln In 6month bills C$2.55bln In 1yr bills
  • BoC's T-Bill Auction ResultsPosted:09/07/2009 13:57 GMT by NeedToKnowNews
    BoC's C$9.2bln 3month T-bills yields 0.531% Avg BoC's C$3.4bln 5month T-bills yields 0.625% Avg BoC's C$3.4bln 1yr T-bills yields 0.732% Avg
  • Update: BoC Cuts 50bps TodayPosted:09/07/2009 9:42 GMT by NeedToKnowNews
    BoC continues to lower the overnight rate, as it cut the target by 50bps to 0.5%, reaching the lowest level on record. The global economic conditions continue to deteriorate as economies report weaker than expected activities. "National accounts data for the fourth quarter of 2008 and other indicators of aggregate demand point to a sharper decline in Canadian economic activity and a larger output gap through the first half of 2009 than projected in January. Potential delays in stabilizing the global financial system, along with larger-than-anticipated confidence and wealth effects on domestic demand, could mean that the output gap will not begin to close until early 2010. These factors imply a slightly lower profile for core inflation than was projected in the January Monetary Policy Report Update (MPRU)," reported the bank. Today's cut brings the overall monetary policy easing to 400bps since Dec '07. To push the total CPI inflation back to 2%, the overnight rate can be expected to remain at this level or lower till the excess supply diminish. The bank also said it would provide additional monetary stimulus, if required, through credit and quantitative easing, as the rate approaches zero. Next scheduled date for announcing the overnight rate target is 21 April '09.A full update of the Bank's outlook for the economy and inflation, including risks to the projection, will be published in the Monetary Policy Report on 23 April '09.
  • BOC CUTS RATES BY 50bps TO 0.50%Posted:10/07/2009 12:53 GMT by NeedToKnowNews
    The Bank of Canada today cut interest rates as-expected by 50bps to 0.50%. - More to Come -
  • Preview: BoC Expected To Cut 50bps TodayPosted:10/07/2009 10:55 GMT by NeedToKnowNews
    The BOC is expected once again to cut 50bps from the target for the overnight rate at todayās scheduled rate announcement at 9:00 am, lowering the rate to 0.5% from 1%. This follows the 50bps cut made on Jan 20.
  • BOC Adds C$545mln via SPRAsPosted:09/07/2009 20:32 GMT by NeedToKnowNews
    That follows C$295mln via SPRAs y/day in an effort to lower the overnight rate toward its new 1% target.
  • BOC Auctions C$600mln in a Reopened Bond Maturing 2041 With Current Total Issuance Standing at C$3.95blnPosted:10/07/2009 10:54 GMT by NeedToKnowNews
  • Carney: There Need for International MonitoringPosted:15/07/2009 6:04 GMT by NeedToKnowNews
    In a speech addressing the UK Chamber of Commerce Mark Carney, governor of the BOC made some suggestion on building continuous markets. He said that even under stress core markets such as interbank lending, commercial paper and repo for high-quality securities must remain liquid. He also said that in order to achieve a full recovery, the global financial system must have continuously open markets at its core. In what he characterized as a ādispassionateā and āoptimistic perspective,ā on how sustainable markets can be built, Carney suggested that the G7 Plan of Action sets out a road-map to re-open markets. He also said that central bankers could act as market-makers of last resort, creating more systemic markets and making individual institutions less so. Carney focused on three flaws withing the global financial system: 1.lack of transparency 2.misaligned incentives 3.inadequate liquidity All three of these, he said, must be addressed, as they all contributed to the current market breakdown that's dragging out the global financial crisis. According to Carney while Canada is weathering the crisis better than most as a result of its tighter financial regulations, its economy is still feeling the pinch because of a deterioration in its terms of trade, and tight credit conditions outside its borders. "While good financial regulation begins at home, it is equally clear that it cannot end there. Even if the domestic system is sound, there is no guarantee that core financial markets will always be available," said Carney. "There is a pressing need for international institutions that effectively monitor systemic risk and coordinate macro-prudential and financial policy reform."
  • BOC Announces Changes to its Minimum Nominal Bond Purchases at AuctionsPosted:10/07/2009 10:53 GMT by NeedToKnowNews
    As a result of its recent extraordinary liquidity transactions the BOC is making some temporary changes to its purchase of nominal bonds at auction. The BOC will reduce its participation at auctions of 2-year, 5-year, 10-year and 30-year bonds to 10% for those securities in which it holds less than 10%, otherwise it will not participate. The bank will continue to indicate its minimum purchase intentions on the Call for Tenders as usual. āThese changes, effective immediately, are for balance-sheet purposes only and have no implications for monetary policy,ā said the bank in a statement.
  • BOC Gov. to Speak in UK On Building Continuous MarketsPosted:10/07/2009 10:52 GMT by NeedToKnowNews
    Next Wednesday, Mark Carney, governor of the BOC will speak at the Canada-UK Chamber of Commerce in London, on Building Continuous Markets.
  • BOC Announces Terms for C$8bln Term Loan FacilityPosted:10/07/2009 0:19 GMT by NeedToKnowNews
    The BOC today announced it is conducting the C$8bln Term Loan Facility (TLF), announced y/day by Canadian Fin. Min. Jim Flaherty, through a single price auction with direct participants in LVTS who have already completed the necessary legal arrangements. Four auctions of C$2bln each will be held starting with a 26-day TLF on Wednesday for next day settlement, maturing December 16. The next three auctions will be 28-day term TLF of C$2bln each to be held one week apart starting Nov. 24. For details of TLF terms and conditions visit the Bank of Canada
  • Today's Issue of BOC 5yr C$4.5bln Bond yields 2.703% AveragePosted:09/07/2009 22:31 GMT by NeedToKnowNews
  • BOC Signals Further Rate CutsPosted:10/07/2009 10:52 GMT by NeedToKnowNews
    BOC Governor Mark Carney suggested that Canadaās economy could slip into a recession along with other industrialized nations, potentially signaling more interest rate cuts. Carney said the BOC is predicting very marginal growth in 2009 close enough, he explained to qualify as negative growth, and when the BOC balances it forecast for upside and downside risk the downside has now become a possible recession. Markets are taking Carneyās comments as a signal that further and possibly deeper rate cuts are imminent - as much as 50 bps are currently expected. The BOC cut its key interest rate to 2.25% last month, and will make its next rate announcement on Dec 9.
  • BOC Releases Results of Todayâs C$10bln Term PRAPosted:10/07/2009 10:52 GMT by NeedToKnowNews
    The results of today's C$10bln term PRA operations for settlement on Nov 13, maturing on Dec 11 are: - High yield: 2.450% - Average Yield: 2.318% - Low yield: 2.240%
  • BOC Announces 2.98% Minimum Bid Rate for Todayâs 14-day Term PRA Posted:10/07/2009 10:52 GMT by NeedToKnowNews
    This Term PRA Facility is for Private Sector Money Market Instruments.
  • BOC Announces Details of Mondayâs 10bln PRAPosted:11/07/2009 22:39 GMT by NeedToKnowNews
    Details of Mondayās C$10bln, scheduled 28-day Term PRA transaction are: Auction : 9:00 a.m. Settlement: Nov 13 Maturity: December 11 The terms of the auction will be the same as for the 28th Oct 28-day Term PRA. Results of the auction will be announced on the BOCās website at 9:45 following the conclusion of the auction, while the total amount of assets acquired will be announced on Nov. 13, by 4:45 p.m. EDT
  • BOC Announces Details of Mondayâs Term PRAs Posted:09/07/2009 19:28 GMT by NeedToKnowNews
    Details of the Nov 10 scheduled 14-day PRA transaction for C$1bln are as follows: Auction : 10:00 a.m. Settlement: Nov 12 Maturity: Nov 16 The minimum bid rate will be announced on the Bankās website prior to auction and will be calculated as a spread of 75bps over the average of the BOCās overnight rate target and 1 month OIS rate. Results of the auction will including total amount of assets acquired will be announced on the BOC website at 11:00 a.m EDT on the day of the auction.
  • Average Yield of C$1.801 on BOC C$850mln T-Bill AuctionPosted:11/07/2009 22:39 GMT by NeedToKnowNews
    The BOC reported today an average yield of 1.801% on its C$850mln auction of Government of Canada T-bills for balance sheet management purposes. The high yield for the transaction was 1.813% and the low was 1.79%. The bills mature on Feb. 5, 2009.
  • BOC Sets End Date for Eased Collateral Rules to Nov. '09Posted:10/07/2009 8:52 GMT by NeedToKnowNews
    The BOC today set the temporary period the bank will accept non-mortgage loan portfolios as eligible collateral for participants in the Large Value Transfer System and standing liquidity facilities to Nov 2, 2009. The bank had announced last month it would temporarily accept non-mortgage loans as collateral as of Oct 20, but had not set an end date. The move is designed to provide additional liquidity to the Canadian financial system. It allows institutions to use marketable securities that are now pledged to the LVTS for other purposes, such as to support borrowing.
  • Details of BOC C$500bln Cash Management Repurchase OperationPosted:10/07/2009 8:52 GMT by NeedToKnowNews
    The BOC will conduct a cash management bond repurchase operation on Nov 12. It includes: C$4.35bln of 3wk bonds at 4.25% C$2.12bln of 6-month bonds at 3.75% C$5.72bln of 6-month bonds at 5.5% C$635.8mln of 6-month bonds at 11 % C$7.69bln of 9-month bonds at 4.25%
  • The BOC to Sell C$850mln for Cash Management PurposesPosted:09/07/2009 19:12 GMT by NeedToKnowNews
    The BOC announced today it will sell C$850mln of its holdings in treasury bills on Thursday. The transaction is expected to partially offset the temporary increase in assets associated with the term PRAs announced earlier today. The transaction will mature on Feb 5, 2009. The maximum bit amount is set at the greater of 25% of amount offered/T-bill or C$500mln, while the minimum bid is C$5 million.
  • BOC Leaves C$250mln in LVTS TodayPosted:10/07/2009 0:27 GMT by NeedToKnowNews
  • BOC Announces C$35bln Term PRAs Until Year-endPosted:10/07/2009 8:52 GMT by NeedToKnowNews
    Tomorrow at 9:00 a.m. EDT, the BOC will issue C$4bln, 91 day PRA maturing Feb 5 2009, to be followed on Nov 10 with a minimum C$8bln 28 day PRA maturing Dec 28. On Nov 18 another minimum C$4bln 28 day PRA will be issued, followed by another minimum C$4bln in a 26 day PRA on Nov 25. Starting Dec 2nd the BOC will issue another 4 PRAs of 91,28 and 30 day terms totaling a minimum C$15bln. The BOC has already provided C$26bln in 7 PRA operation in an effort to provide liquidity to Canadian term lending markets since Sept 19.
  • BOC inject C$605mln in SPRAsPosted:10/07/2009 8:52 GMT by NeedToKnowNews
  • BOC Takes C$67mln and Leaves C$500mln in LVTSPosted:10/07/2009 8:51 GMT by NeedToKnowNews
    The Bank of Canada took 67mln from the Large Value Transfer System on Thursday and made C$500mln available to the system on Friday. The bank usually targets a regular balance of C$25 million in the system to facilitate settlement of balances between banks, but has been occasionally leaving larger amounts since the credit crisis.
  • BOC Sets Overnight Large Value Transfer Target at C$250 mlnPosted:10/07/2009 8:51 GMT by NeedToKnowNews
    Usually the BOC sets the overnight Large Value Transfer System (LVTS) target balance at C$25mln, but has made C$250mln available today.
  • BOC Left Door Open to Further CutsPosted:09/07/2009 13:00 GMT by NeedToKnowNews
    The BOC could still cut its overnight interest rate again after y/dayās coordinated global rate action (which lowered Canada's benchmark 50bps to 2.5%). Canada's 6 banks have reduced their rates by only 25bps in response to y/day's rate cut. The banks are saying that they can't reduce rates any further because they're already feeling too much pain from the steep jump in borrowing costs. The next scheduled rate announcement is October 21. Yesterday, the BOCās statement, though guarded, left the door open to further cuts, saying the bank would carefully monitor events "in judging whether further action might be required." The BOC indicated that inflation was no longer a major concern while emphasizing the potential for weaker growth in Canada on lower demand from the US, as well as weaker terms of trade. Economists are predicting further cuts to as low as 1.5% -- a rate that hasn't been seen in Canada since the 60s.
  • Canadian Government Considers Proposals to Bolster BanksPosted:10/07/2009 8:51 GMT by NeedToKnowNews
    The Canadian government is considering proposals to reinforce banks by giving them access to assets backed by the Canadian federal treasury, according to a Globe and Mail report that cited people familiar with the matter. While Canadaās banks are in good shape -- according to Jim Flaherty, Canadaās finance minister, this morning -- the government is responding to bank executives concerned about the availability of credit. One proposal under consideration would involve the Canada Mortgage and Housing Corporation setting up a term lending facility to absorb some of the banksā mortgages, in exchange for securities issued by CMHC. The exchange would give banks assets that other lenders, including the BOC, could accept as collateral for short term loans, the Globe and Mail reported. Banks have also proposed increasing deposit insurance, the report said.
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