The thinking behind our actions Collectively, our actions and those that other major central banks took in their own jurisdictions helped to stabilize global financial conditions. The steps we took in Canada to support core markets reflected our responsibility to act as lender of last resort when the financial system is short of liquidity and not working properly. This role goes back centuries.
We are here today in the Presidents’ Room. If you look over to the far wall you can see that all the former presidents of De Nederlandsche Bank are watching us. At the top left is our very first President, Paul Iwan Hogguer. In 1814 he was appointed by King Willem the First of the Netherlands to oversee the creation of DNB.