Publications and Research
Periodicals
Bank of Canada Review
Winter 1997-1998
Index of Working Papers | Index of Technical Reports| Title | The overnight market in Canada |
| Author(s) | Eugene Lundrigan and Sari Toll |
| Type | Bank of Canada Review article |
| Date of publication |
Winter 1997-1998 |
| Language | English and French |
| Abstract |
The overnight market is an active forum where participants with a temporary surplus or shortage of funds can lend or borrow until the next business day. The level of interest rates in the overnight market has always been closely linked to the Bank of Canada's monetary policy operations.
In this article, the authors describe the evolution of the market from its roots in the 1950s, the development of the Bank's monetary policy operations in the market, and how the market operates today. They also examine the outlook for the overnight market, particularly the implications of the new Large-Value Transfer System. |
| Bank topic index |
Monetary policy implementation |
| JEL classification |
E52 |
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