2.6  Inflation targets: 1991 to 2000  All of this changed in February 1991, when the Bank of Canada, in a joint statement with the Minister of Finance, announced the introduction of inflation-reduction targets. Academic economists had not been advocating targets focused directly on inflation.
The criteria impose strict conditions, for example requiring a proper legal true sale, allowing only publicly listed senior bonds with a minimum rating, and collateralised by granular homogeneous asset pools. Obtaining Eurosystem eligibility, and thus the prospect of access to funding in an emergency, acts as a powerful incentive for ABS issuers to structure relatively high-quality deals.