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ARTICLE · 14 NOVEMBER 2008

Government Of Canada Announces Additional Support For Credit Markets

Stikeman Elliott LLP
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The Government of Canada has introduced new measures to provide liquidity to Canadian financial institutions. (Earlier measures are described in our Financial Services Update of October 23, 2008.)

CanadaFinance and Banking
Stikeman Elliott LLP
Stikeman Elliott LLP
Justin Parappally
Justin Parappally
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Detailed terms of the Canadian Lenders Assurance Facility program have been released.

The Government of Canada has introduced new measures to provide liquidity to Canadian financial institutions. (Earlier measures are described in our Financial Services Update of October 23, 2008.)


Today, the Ministry of Finance advised that the mortgage-backed securities purchase program announced previously will be increased from $25 billion to $75 billion. $12 billion in purchases have already been made from the first tranche of the purchase program, with an additional $7 billion expected to be purchased in an auction taking place today. The final purchases from the first tranche are expected to take place on November 21.

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