Although the Bank of Canada, unlike some other central banks such as the U.S. Federal Reserve or the Bank of England, is not responsible for directly overseeing banks and insurance companies, we help to promote financial stability and efficiency in a number of different ways.
However, I would like to point out that the aim of these interventions by the National Bank was not to defend the level of the exchange rate, because had this been the case, the NBS would have organized fixing sessions and asked banks to specify the affordable buying or selling exchange rate.