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ARTICLE · 07 MAY 2020

CSA Temporarily Increase Short-Term Borrowing Limits For Mutual Funds Investing In Fixed Income Securities

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The Short-Term Borrowing Orders are intended for any Canadian mutual fund that invests a portion of its assets in fixed income securities, including equity funds holding a portion of fixed income securities.

CanadaFinance and Banking
François Brais
François Brais
John Kruk
John Kruk
Laurence Brien-Roch
Laurence Brien-Roch
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On April 17, 2020, in the context of the coronavirus disease 2019 outbreak ("COVID-19"), the Canadian Securities Administrators (the "CSA") issued new local harmonized temporary blanket orderspursuant to which mutual funds are permitted to engage in additional short-term borrowing from April 17, 2020 until July 21, 2020 (the "Short-Term Borrowing Orders"). These orders are in addition to the local harmonized blanket orders issued on March 23, 2020, providing market participants with extensions for certain periodic filing, sending or delivery requirements (see our bulletin on some of these blanket orders titled, Canadian Securities Regulators Publish Blanket Orders for Market Participants Due to COVID-19)

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