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The corner of Bay and King streets in the heart of Canada’s financial district.
The corner of Bay and King streets in the heart of Canada’s financial district.
(KEVIN VAN PAASSEN/THE GLOBE AND MAIL)

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BoC seeks pension fund participation in repo clearinghouse

Canada’s clearinghouse for short-term interbank lending is up and running, but not drawing enough interest to do what it is supposed to do by protecting the market in a crisis.

Fixing that will require finding a way to get pension funds to use the year-old repo clearing system, something that the clearinghouse’s operators are now working on doing.