These are unprecedented and challenging times for everyone, and the health and well-being of our employees, members, clients, and communities are a top priority for Central 1. We are confident in our ability to maintain essential products and services, and to protect our critical business functions with limited disruption to Central 1, our credit union system and our clients.
With the evolving situation around COVID-19, we want to provide assurances that Central 1 is well-positioned to support your needs and reinforce all of the treasury programs available to support your organization as you navigate these highly unusual times.
As a primary liquidity provider to the system, Central 1 manages its portfolio to ensure it has appropriate levels of liquidity to support the system during times of stress. This ensures we are able to continually offer our programs when you need them the most.
Central 1 has a full suite of funding and liquidity products to assist credit unions. These include our credit facilities and repurchase agreements as well as securitization and mortgage funding options for insured and uninsured mortgages. More information regarding the above programs, can be found on secure site or by contacting Treasury@Central1.com.
Central 1 can also access additional programs to liquidate credit unions’ Canada Mortgage Bonds (CMB), Mortgage Backed Securities (MBS), Government of Canada bonds, and other securities that are eligible as collateral under the Standing Liquidity Facility (SFL) at the Bank of Canada.
Additionally, as the Group Clearer for the Canadian credit union system, Central 1 has direct access to the Bank of Canada. Central 1 continues to work closely with the provincial governments and the Bank of Canada to ensure all options are communicated to the system as they are made available.
If you have any questions or need support, please reach out to us directly at Treasury@Central1.com.
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