Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Canada 02 02 - Credit creation CAD 518,739,000,000 371,789,285,074
Canada 02A 02A - Financial sector lending/funding CAD 218,739,000,000 156,774,054,829 Bank of Canada. https://www.bankofcanada.ca/markets/market-operations-liquidity-provision/market-operations-programs-and-facilities/canada-mortgage-bond-purchase-program/#marketFunctioning; Bank of Canada. https://www.bankofcanada.ca/markets/market-operations-liquidity-provision/market-operations-programs-and-facilities/provincial-bond-purchase-program/ (all accessed 10 June 2020).

(i) Increase in Mortgage Bonds = CAD8.739 billion (peak September 2) [update] - Canada Mortgage Bond Purchase Program (CMBP) will target CAD 500 million in purchases per week; (ii) CAD 50 billion limit; CAD8.443 billion (peak September 2) [update]. The Provincial Bond Purchase Program (“PBPP” or “the program”) will be structured as a direct purchase program into a separate account held by the Bank of Canada (“BoC” or “the Bank”), managed by BMO Global Asset Management Inc. (“BMO GAM” or “the Asset Manager”) and supported by Canadian Imperial Bank of Commerce Mellon (“CIBC Mellon” or “the Custodian”) as a custodian. The program will support the liquidity and efficiency of provincial government funding markets. The program’s parameters may be expanded if conditions warrant. (iii) CAD10 billion limit. Beginning May 26, the Corporate Bond Purchase Program (CBPP) will purchase eligible corporate bonds in the secondary market. The program size will be capped at CAD10 billion and will be restricted to senior secured and unsecured bonds originated by Canadian incorporated companies with a remaining maturity of up to 5 years and a minimum credit rating of BBB or equivalent; Since July 22, bonds purchased through the CBPP were CAD141 million [update]; (iv) CAD150 billion; the government's Insured Mortgage Purchase Program (IMPP) purchases insured mortgage pools through the Canada Mortgage Housing Corporation (CMHC); (v) April 28, The Bank of Canada began offering 24-month repurchase operations (amount included in repurchase operations in 1A).

Canada 02B 02B - Support policies for long-term lending CAD 300,000,000,000 215,015,230,245 Department of Finance Canada. https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Supporting_Financial_Market. BoC https://www.bankofcanada.ca/wp-content/uploads/2020/06/fad-press-release-2020-06-03.pdf (all accessed 10 June 2020). OSFI https://www.osfi-bsif.gc.ca/Eng/fi-if/in-ai/Pages/FRI20200828_let.aspx (Accessed 2 September)

(i) The Office of the Superintendent of Financial Institutions (OSFI) announced it is lowering the Domestic Stability Buffer by 1.25% of risk-weighted assets to 1%, effective immediately. This action will allow Canada’s large banks to inject CAD300 billion of additional lending in to the economy; (ii) June 3, the BoC maintained its targets at 0.5% for the Bank Rate (penalty rate) and 0.25% for both the deposit rate (interest on reserves) and the overnight rate target; (iii) No amount/estimate: August 31, the Office of the Superintendent of Financial Institutions (OSFI) extended regulatory flexibility for insurers for 6 more months, including relaxing requirements for insurers regarding capital requirements for premiums or insured loans that are delinquent or for which a payment deferral has been given. [update]

Canada 02C 02C - Loan guarantees CAD Department of Finance Canada. https://www.canada.ca/en/department-finance/economic-response-plan.html (accessed 10 June 2020).

No amount/estimate: Loan Guarantee for Small and Medium-Sized Enterprises through the Business Credit Availability Program, Export Development Canada (EDC) is working with financial institutions to guarantee 80% of new operating credit and cash flow term loans of up to CAD6.25 million to small and medium-sized enterprises (SMEs).

Canada 02 02 - Credit creation CAD 150,000,000,000 107,507,615,123
Canada 02A 02A - Financial sector lending/funding CAD 150,000,000,000 107,507,615,123 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 April 2020).

Under the Insured Mortgage Purchase Program, the government will purchase up to CAD150 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC).

Canada 02B 02B - Support policies for long-term lending CAD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 April 2020).

No amount/estimate: (i) March, BoC reduced the overnight policy rate by 150 bps (to 0.25%); (ii) Office of the Superintendent of Financial Institutions (OSFI), the bank regulator, lowered the Domestic Stability Buffer for D-SIBs to 1% of risk weighted assets (previously 2.25%).

Canada 02C 02C - Loan guarantees CAD