Establishing the CTRF will ensure that the Bank has a permanent and flexible range of extraordinary liquidity facilities in place that could be activated to respond to and alleviate system-wide liquidity pressures.
Indeed, the joint statement of the Treasury and the Federal Reserve also included an agreement to continue to pursue additional tools to control our balance sheet to reinforce our ability to conduct an independent policy in pursuit of our macroeconomic objectives – the final topic that I will discuss today.