The second report takes a look at the securities-financing market in Canada and the implications of recent developments in that space for bond market liquidity. With that, Carolyn and I will be happy to respond to your questions. 2  BIS central bankers’ speeches
Rather than providing a detailed review of operations over the past year, I will look at what I think are potential challenges that market participants and policymakers are likely to be confronted with in the period ahead. Given the time constraints, I will focus on the policy implications of some key market developments.