An article in the June Financial System Review 12 outlines a set of principles to guide the central bank on when and how to supply liquidity to financial markets. These principles, which clarify the extremely limited cases in which the Bank of Canada might intervene in financial markets, are useful in limiting moral hazard.
Here is a summary of the principles:  10  See, for example, D. Dodge, "Turbulence in Credit Markets: Causes, Effects, and Lessons To Be Learned" (speech to the Vancouver Board of Trade, 25 September 2007), available at: http://www.bankofcanada.ca/en/speeches/2007/sp07-17.html; D. Longworth, "Liquidity, Liquidity, Liquidity" (speech to the Investment Industry Association of Canada, 3 October 2007), available at: http://www.bankofcanada.ca/en/speeches/2007/sp07-18.html; M. Carney, "Addressing Financial Market Turbulence" (speech to the Toronto Board of Trade, 13 March 2008), available at: http://www.bankofcanada.ca/en/speeches/2008/sp08-3.html; D. Longworth, "Credit Markets, Financial Stability, and Monetary Policy" (speech to the Global Investment Conference, 10 April 2008), available at: http://www.bankofcanada.ca/en/speeches/2008/sp08-5.html; and M. Carney, "Principles for Liquid Markets" (speech to the New York Association for Business Economics, 22 May 2008), available at: http://www.bankofcanada.ca/en/speeches/2008/sp08-6.html.