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Behaviour in the Canadian large-value payment system: COVID-19 vs. the global financial crisis

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Unlike the 2008–09 global financial crisis, the onset of the COVID-19 crisis did not raise stress levels in Canada’s Large Value Transfer System. Swift changes to the Bank of Canada’s collateral policy and its large-scale asset purchase programs likely eased liquidity pressures in the system.

DOI: https://doi.org/10.34989/san-2021-7