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GC Asia
OSFI cuts Canadian covered bond limit
Canada’s Office of the Superintendent of Financial Institutions has removed the temporary increase of the covered bond issuance limit mirroring the Bank of Canada’s earlier decision to remove covered bonds as an eligible asset for repo funding.
In March 2020 OSFI had temporarily increased the Canadian covered bond issuance limit from 5.5% of assets on balance sheet to 10%. This limit was reduced back to 5.5% on Tuesday.
The temporary increase had been designed to enable banks to pledge Canadian dollar covered bonds for repo purposes ...Already a subscriber? Login
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