The Bank of Canada issued a statement to reassure the market that it will provide liquidity to help preserve market stability and efficiency, as credit quality and liquidity concerns mount.

“In light of current market conditions, the Bank of Canada would like to assure financial market participants and the public that it will provide liquidity to support the stability of the Canadian financial system and the continued functioning of financial markets,” it said.

The Bank noted that these activities are part of its normal operational duties relating to the stability and efficient function of Canada’s financial system. “The Bank is closely monitoring developments, and will deal with issues as they arise,” it added.