11  The complementary liquidity facilities provided by the Government of Canada, such as the Insured Mortgage Purchase Program, were also important in addressing the financial market turmoil in Canada. 12  Prior to December 2007, term PRAs had been conducted only on an occasional basis to manage the Bank’s balance sheet and address seasonal fluctuations in the demand for bank notes.
However, support for it had already been weakening for some time, in advanced countries at least, in connection with a growing sense of lopsidedness, unfairness and alienation among many people.