The BPP, combined with other policy responses to the pandemic, resulted in the Bank holding around $ billion in AGS and semis at the end of June 2022 (Graph 1). It also held a further $ billion in assets associated with the TFF.
And some Canadian regions and industries, particularly those with heavier reliance on primary commodities and exports to Asia, will no doubt feel the impact more than others. As well, there are the economic effects of the recent ice storm in Eastern Ontario, Quebec, and the Maritimes to consider.