@article{Implementation:659,
      recid = {659},
      author = {Longworth, David and Muller, Patrice},
      title = {Implementation of Monetary Policy in Canada with Same-Day  Settlement: Issues and alternatives},
      publisher = {Bank of Canada},
      address = {1991},
      pages = {1 online resource (24 pages)},
      abstract = {The move to an electronic large value transfer system  (LVTS) with same-day settlement will lead to much more  certainty in the settlement positions of direct clearers at  the Bank of Canada than is presently the case. Therefore  the monetary policy operating systems that will be used  with LVTS may have some fundamental differences from the  existing system. This paper examines the two major  alternative systems that were mentioned in the Bank of  Canada’s Discussion Paper Implementation of Monetary Policy  in the Absence of Reserve Requirements (1987). The first of  these systems is built around a borrowed funds schedule,  which has some similarities to a system currently in use in  Sweden. The second system involves securities sales to (and  purchases from) the Bank of Canada, and is similar to the  system currently in use in the United Kingdom. Other  systems are also briefly reviewed.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/659},
      doi = {https://doi.org/10.34989/swp-1991-3},
}