MONTREAL, March 26 Bank of Canada Deputy
Governor Agathe Cote made no mention of monetary policy in a
speech on Tuesday that focused on ways Canadian authorities are
strengthening financial markets infrastructure to lessen the
risk of future crises.
Cote said Canada needed to make more progress in clearing
repos, or repurchase transactions, centrally through the
Canadian Derivatives Clearing Corporation (CDCS).
"At present, just 10 to 15 percent of repo transactions are
cleared through CDCS - not nearly enough to ensure that the
markets remain open in times of stress," she warned, adding that
authorities were trying to enable pension funds and smaller
institutions to clear through CDCS.