The Bank of Canada is leaving C$150 million ($146 million) in the Large Value Transfer System overnight on Monday and plans to leave C$150 million in the system on Tuesday, the central bank announced. Normally it targets a balance of C$25 million in the system, to allow easy settlement of balances between banks.
But since August 15 it has left much larger amounts, starting at C$500 million and gradually reducing that to C$150 million as of Monday. The bank's Web site says it retains the right to adjust the targeted level higher or lower from the normal C$25 million "if warranted by conditions in the overnight market."
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