Greater participation in the Canadian CCP for fixed-income repos is essential I will start with an initiative that is close to home. Here in Montréal, the Canadian Derivatives Clearing Corporation (CDCC) launched a central counterparty service for the Canadian fixedincome repo market called the Canadian Derivatives Clearing Service (or CDCS) in February 2012.
While we at the Reserve Bank do not have responsibility for the supervision of financial institutions, we do have an important role in monitoring the financial system as a whole and the economy for financial imbalances that could lead to instability.