What would your responce be to this question.

According to the bank of Canada, the two largest assets are the Government's bonds and derivatives. (Bank of Canada, nd) The bonds are essentially a loan given to the government by the people to cover costs and have a longer maturity of several years. Derivatives, or treasury bills (T-bills) are tradable money market securities and usually have a short-term security and maturity of a year or less (HelloSafe, nd)

The two largest liabilities are notes in circulation and members of payments Canada or Canadian dollar deposits (Bank of Canada, nd). Notes in circulation refers to amount of banknotes issued for circulation. Members of Payments liabilities are composed of the account balance settlements for the members of payment, these include the Bank of Canada, domestic banks and authorized foreign banks (Payments Canada, nd)

Covid-19 changed the balance sheet due to the influx of government subsidies to businesses and individuals. Many industries could not function at full capacity or at all during certain times and the economy struggled as a result. Because of this, more people relied on credit so the Bank of Canada lowered interest rates which in turn caused the housing market to explode. During global and federal financial struggles, bond sales and procurements become more difficult as the markt becomes more illiquid (Bank of Canada, nd)