The authors describe the liabilities model of the Exchange Fund Account (EFA). The EFA is managed using an asset-liability matching framework that requires currency and d[...]

Relevant literature on asset-liability management (ALM) is reviewed and different ALM approaches are discussed that may be of interest to the Bank of Canada for the purpo[...]

An objective function is a key component of a strategic portfolio management model used to determine the optimal allocations of assets and, possibly, their associated lia[...]