Bank of Canada says software problem halted repo auction
Central bank says securities repo operations have now restarted
The Bank of Canada had to cancel a securities repo auction on March 2, after what it called “a data processing issue” interfered with settlement.
Central bank spokesman Sean Gordon told Central Banking that “a software script issue” had blocked settlement. Gordon said this was the first time a software issue had forced the cancellation of an auction.
He added that the Bank of Canada has protocols for reviewing operational problems, and that “this incident will be reviewed for any lessons we
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