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OSFI gives Canadians extra 4.5% scope for BoC repo

Posted on 30 March 2020

Canadian banks can temporarily exceed a 5.5% cap on issuance after OSFI let them issue an amount such that up to 10% of their assets are pledged for covered bonds as long as the extra issuance is used for newly available Bank of Canada repo, and RBC printed C$20bn on Friday...

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