- (i) buy and sell from or to any person securities and any other financial instruments — other than instruments that evidence an ownership interest or right in or to an entity — that comply with the policy established by the Governor under subsection 18.1(1), and
- (ii) if the Governor is of the opinion that there is a severe and unusual stress on a financial market or the financial system, buy and sell from or to any person any securities and any other financial instruments, to the extent determined necessary by the Governor;
- (i) security in any property, including in any real property or immovable situated in Canada, or
- (ii) an assignment or transfer of the member’s right, title or interest in any real property or immovable situated in Canada, including any mortgage or hypothec on that real property or immovable;
- R.S., 1985, c. B-2, s. 18
- 1992, c. 1, s. 142
- 1997, c. 15, s. 98
- 1999, c. 28, s. 95
- 2001, c. 4, s. 58, c. 9, s. 194
- 2004, c. 25, s. 6(E)
- 2008, c. 28, s. 146
- 2014, c. 20, s. 108
- 2016, c. 12, s. 123
- 2017, c. 33, s. 185
- 2018, c. 12, s. 220
Marginal note: For greater certainty
18.01 For greater certainty, for the purposes of paragraphs 18(c), (d) and (g), the Bank may enter into a repurchase, reverse repurchase or buy-sellback agreement.
Marginal note: No invalidity
18.02 No act of the Bank, including a transfer of property, is invalid by reason only that the Bank was without the capacity or power to so act.
Marginal note: Policy established by Governor
- 18.1 (1) The Governor shall establish a policy for the purposes of subparagraph 18(g)(i).
- Marginal note: Publication (2) The Bank shall publish the policy and any amendment to it in the Canada Gazette and the policy or the amendment comes into force seven days after the day on which the Bank publishes it or on any later day specified by the Governor.
- 2008, c. 28, s. 147
Marginal note: Publication
19 If the Bank takes any action under subparagraph 18(g)(ii), the Bank shall cause a notice to be published in the Canada Gazette that the Governor has formed an opinion that there is a severe and unusual stress on a financial market or the financial system. The notice is to be published as soon as the Governor is of the opinion that its publication will not materially contribute to the stress to which the notice relates.
- R.S., 1985, c. B-2, s. 19
- 1991, c. 46, s. 581
- 1997, c. 15, s. 99
- 2001, c. 9, s. 195
- 2008, c. 28, s. 147
Marginal note: Acquisition of collateral securities
20 The Bank may
- (a) acquire from any bank or authorized foreign bank that is not subject to the restrictions and requirements referred to in subsection 524(2) of the Bank Act and hold any property held by the bank or authorized foreign bank as security under Part VIII of the Bank Act ; and
- (b) exercise every right and remedy in respect of any security acquired under paragraph (a) that could have been exercised by the bank or authorized foreign bank.
- R.S., 1985, c. B-2, s. 20
- 1992, c. 1, s. 142
- 1999, c. 28, s. 96
- 2001, c. 9, s. 195
Marginal note: Publication of minimum interest rates on loans
21 The Bank shall at all times make public the minimum rate at which it is prepared to make loans or advances.
- R.S., c. B-2, s. 18
Marginal note: Time limit for unpaid debts
- 22 (1) The Bank is not liable in respect of any unpaid debt in respect of which a federal financial institution has made a payment to the Bank under the relevant Act in respect of the federal financial institution if
- (a) the amount paid to the Bank was less than $1,000; and
- (b) at least 40 years have gone by since the later of
- (i) the last time a transaction took place on the books of the federal financial institution in respect of the unpaid debt, and
- (ii) the last time a statement of account was requested of or acknowledged to the federal financial institution by the former creditor in respect of the unpaid debt.
- (a) the amount paid to the Bank was less than $1,000; and
- (b) no payment has been made in respect of the instrument for at least 40 years after the day the instrument was issued or accepted.
- (a) the amount of the claim has been paid to the Minister and by the Minister to the Bank under the relevant Act in respect of the federal financial institution;
- (b) the amount paid to the Bank was less than $1,000; and
- (c) at least 40 years have gone by since the later of
- (i) the last time a transaction took place on the books of the federal financial institution in respect of the subject-matter of the claim, and
- (ii) the last time a statement of account was requested of or acknowledged to the federal financial institution by the former creditor in respect of the subject-matter of the claim.
- (a) the amount paid to the Bank was less than $1,000; and
- (b) at least 40 years have gone by since the applicable date referred to in subsection 14(2.9) of that Act.
- (a) any unpaid debt or any instrument in respect of which a federal financial institution has paid an amount to the Bank in accordance with the relevant Act in respect of the federal financial institution, or
- (b) any claim against a liquidator in respect of the winding-up of a federal financial institution the amount of which claim has been paid to the Minister and by the Minister to the Bank under the relevant Act in respect of the federal financial institution,
where an amount equal to the amount so paid has been paid by the Bank to the creditor in accordance with the relevant Act in respect of the federal financial institution or to the Receiver General under subsection (3).
- (a) in the case of a bank or authorized foreign bank, the Bank Act ,
- (b) [Repealed, 1999, c. 28, s. 97]
- (c) in the case of a company to which the Trust and Loan Companies Act applies, that Act, and
- (d) in the case of an association to which the Cooperative Credit Associations Act applies, that Act. ( loi pertinente )
- R.S., 1985, c. B-2, s. 22
- 1991, c. 46, ss. 582, 583, c. 48, s. 494
- 1997, c. 15, s. 100
- 1999, c. 28, s. 97
- 2001, c. 9, s. 196
- 2007, c. 6, s. 394
- 2012, c. 5, s. 183
- 2021, c. 23, s. 140
