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Results: 106 - 120 of 380
Tiff Macklem
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Tiff Macklem
2020-11-26 15:51
In fact, if you look at the guidance we have provided, we have committed to stop buying government bonds once the recovery is well under way.
Tiff Macklem
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Tiff Macklem
2020-11-26 15:51
That would probably happen before we actually get to the 2% target.
View Ted Falk Profile
CPC (MB)
View Ted Falk Profile
2020-11-26 15:52
Thank you, Mr. Chair.
Thank you, Mr. Macklem and Ms. Wilkins for your presentation.
I am just wondering how much of the federal debt the Bank of Canada holds.
Tiff Macklem
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Tiff Macklem
2020-11-26 15:52
We hold roughly 30%.
View Ted Falk Profile
CPC (MB)
View Ted Falk Profile
2020-11-26 15:52
That amount would be what?
Tiff Macklem
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Tiff Macklem
2020-11-26 15:52
You mean the actual number? It is $343,905,000,000 as of about a week ago.
View Ted Falk Profile
CPC (MB)
View Ted Falk Profile
2020-11-26 15:52
Of that amount, how much has been added since March?
Tiff Macklem
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Tiff Macklem
2020-11-26 15:52
The main source of additions would be the government bond purchase program, and that would be $162,979,000,000. There are also some additions: some treasury bills have been added. Those are very short-term debts, so those are rolling off.
View Ted Falk Profile
CPC (MB)
View Ted Falk Profile
2020-11-26 15:53
What level is the Bank of Canada comfortable with?
Tiff Macklem
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Tiff Macklem
2020-11-26 15:53
Do you mean what level of purchases?
View Ted Falk Profile
CPC (MB)
View Ted Falk Profile
2020-11-26 15:53
What level of federal government bond purchases is the bank comfortable with?
Tiff Macklem
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Tiff Macklem
2020-11-26 15:53
Currently we're at about 30%. Other central banks have issued guidance that if the central bank holds more than 50% to 70%, that could start to impair market functioning. The Federal Reserve has indicated that for them it would be about 60%. We're at 30%, and keep in mind that before the crisis we were at about 15%. We regularly hold some on the balance sheet, but we have quite a lot of room. Something in that range would start to get uncomfortable.
Tiff Macklem
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Tiff Macklem
2020-11-26 15:54
We have a long way to go to get there.
View Ted Falk Profile
CPC (MB)
View Ted Falk Profile
2020-11-26 15:54
That's correct. What percentage of the debt that you currently hold has short-term or less than 10-year maturity?
Results: 106 - 120 of 380 | Page: 8 of 26

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