Todays World News

"Palestinian President Mahmoud Abbas has proposed that the Obama administration negotiate the final borders of a Palestinian state with Israel, a Palestinian official said Wednesday, as a U.S. envoy headed to the region for another attempt to restart Mideast peace talks. Such a proxy arrangement could provide a way around the current deadlock over reviving Israeli-Palestinian talks, which broke off more than a year ago. Abbas says he won't return to the table without a complete Israeli settlement freeze, something Israeli Prime Minister Benjamin Netanyahu has refused to do. As an alternative, U.S. officials could replace Palestinian negotiators in border talks with Israel, said an Abbas aide, who spoke on condition of anonymity because he was not authorized to discuss the content of internal meetings. The U.S. negotiators would be given clear parameters, the aide said. Advertisement The state would have to be established in the territories Israel captured in the 1967 Mideast War - the West Bank, Gaza and east Jerusalem - but the Palestinians would agree to swap up to 3 percent of the territory to accommodate some Israeli settlements, the aide said. Abbas made the proposal in recent meetings with Egyptian officials who passed the idea along to Washington, the aide said. It was not clear how the Americans reacted. Officials at the U.S. Consulate in Jerusalem, which serves the West Bank, had no comment. Abbas has said much ground has been covered in his talks with Netanyahu's predecessor, Ehud Olmert, and that the time has come for decisions. In those talks, Abbas offered a swap of up to 1.9 percent of West Bank land for Israeli territory, while Olmert proposed 6.5 percent. Alternately, Abbas could resume negotiations with Netanyahu, provided the Israeli leader agrees to a six-month settlement freeze in the West Bank and east Jerusalem. Netanyahu would not have to announce the freeze, the aide said, presumably to avoid a rebellion in his hardline coalition. The

"BAGHDAD - Suicide bombers struck near three hotels popular with Western journalists and businessmen Monday just as Iraq announced the execution of Saddam Hussein's notorious cousin known as "Chemical Ali." At least 37 people were killed and more than 104 injured, security officials said. The blasts - coming in a span of about 15 minutes in downtown Baghdad - came shortly before state television announced that Ali Hassan al-Majid had been hanged. There was no claim of responsibility for the latest major attacks in Baghdad - about six weeks after a series of blasts killed 127 and brought outcry against Iraq's government for repeated security lapses as U.S. troops withdraw. Government spokesman Ali al-Dabbagh said the latest bombings "represent an extension" of the activities of insurgents linked to Saddam's regime. But he stopped short of declaring the blast as possible revenge for the execution. The first explosion struck at about 3:40 p.m. local time in the parking lot of the Sheraton Hotel, toppling high concrete blast walls protecting the site and damaging a number of buildings along the Abu Nawas esplanade across the Tigris River from the Green Zone. Two other blasts followed minutes later, striking near the Babylon Hotel and Hamra Hotel, which is popular with Western journalists and foreign security contractors. All officials spoke on condition of anonymity because they were not authorized to speak to the media. According to initial tallies, 15 of the victims were at the Hamra, 14 at the Sheraton, and the remaining 8 died at the Babylon, including two policemen."

"WASHINGTON -- President Obama, determined to show he understands middle-class struggles, is offering new initiatives meant to help people pay bills and save for retirement. Obama was ready to announce the new steps Monday in a partial preview of his State of the Union address. The proposals to be unveiled by Obama and Vice President Joe Biden at the White House include a doubling of the child care tax credit for families earning under $85,000; a $1.6 billion increase in federal funding for child care programs and a program to cap student loan payments at 10 percent of income above "a basic living allowance." His initiatives also include expanding tax credits to match retirement savings and increasing aid for families taking care of elderly relatives. That program would also require all employers to provide the option of a workplace-based retirement savings plan. Obama is seeking to offer some attractive options to taxpayers, mindful of recent setbacks including the loss of a traditionally Democratic Senate seat in Massachusetts to Republican Scott Brown. Monday's rollout is designed to show sympathy with a frustrated public. "We are fighting every single day to put Americans back to work," Obama said in a statement released by the White House. The proposals are the result of the work of a middle class task force that Biden had headed. The White House says the proposals are aimed at the "sandwich generation" -- Americans struggling to care for both their children and their parents. The proposals fit into the economic message of his prime-time address to the nation on Wednesday, one that is likely to cover financial regulations, energy, education, immigration and a push to change the political tone in Washington. White House advisers see Wednesday's State of the Union speech as a key opportunity for Obama to recalibrate his message to better connect with the public and to reset his presidency after stinging setbacks. Obama has promised a sharper focus o

Federal regulators seized Charter Bank in New Mexico this week as its capitalization fell below requirements, making it the latest of scores of banks to have failed in the economic crisis. However, the Albuquerque Journal reports that Charter faced a very low default rate on residential loans and no commercial failures, either - until the Office of Thrift Supervision, its regulator, demanded that Charter increase its declared risk fivefold (hat tip HA reader Super5): Federal authorities on Friday closed Charter Bank, a closely held, family-run financial institution known for its financing of low-income housing in New Mexico and for the philanthropy of its owners. … Last fall, Office of Thrift Supervision examiners, responding to the national collapse of real estate development, ordered Charter to increase its allowance for loan losses from $10.8 million to $55.4 million, even though Charter had no delinquent commercial construction loans and only [0].34 percent of the loans in its commercial real estate portfolio were behind on their payments. That order reduced the level of capital Charter had on its books. Last Wednesday, OTS ordered Charter to find new capital as a buffer against insolvency or face closure. Charter had hoped to find a buyer, but none appeared. The owners' stake in the company was wiped out by the forced closure. How involved were they in low-income lending? The head of New Mexico's MFA makes it clear: Charter became a major real estate lender and was especially active in underwriting and servicing mortgages for low-income housing. It worked closely with the Mortgage Finance Authority, which was established by the State Legislature to help finance low-income housing construction. According to MFA executive director Jay Czar, Charter services about 95 percent of the mortgages issued through the agency. "They are just class bankers," Czar said. "These are guys who quite frankly really look out for the s

"About 55 million sickened, over 11,000 killed Updated: Friday, 15 Jan 2010, 12:05 PM EST Published : Friday, 15 Jan 2010, 12:05 PM EST A new government estimate says swine flu has sickened about 55 million Americans and killed about 11,160. The Centers for Disease Control and Prevention released the estimates on Friday , which cover roughly the first eight months of the pandemic - from April through mid-December. The CDC last estimated that through mid-November, the pandemic had sickened 50 million Americans and killed 10,000. Swine flu infections have been waning since late October, and no states were reporting widespread cases as of last week."

"Hindu Militants Attack Prayer Service; 11 Injured Friday, January 22, 2010 (5:34 am) By Worthy News Asia Service NEW DELHI, INDIA (Worthy News)-- Indian police have released on bail Hindu militants who allegedly attacked a Christian prayermeeting in Western India, seriously injuring at least 11 Christians, a rights group said Friday, January 22. U.S.-based International Christian Concern (ICC) said the January 17 violence in the city of Udaipur in Rajastha beganwhen members of the radical Hindu group Rashtriya Swayamsavak Sangh (RSS) raided the Faith Calvary Church prayer meetingarmed with machetes, axes and sticks "and proceeded to beat Pastor Surajth Bhagari and church members of the church." FCC founder and director T.M. Omkar was quoted as saying that Christians suffered broken legs, arms and injuries to their heads. The victims were reportedly taken to a nearby government hospital where they "were partially" treated. Administrators of the hospital allegedly refused to issue them a medical certificate. "We felt that the hospital administration waspressured by some group who are keen to create trouble for the Christians. We are taking the matter to the court," Omkar reportedlysaid. Police briefly detained six "Hindu extremists" on charges that included "rioting, being armed with deadly weapons, unlawful assembly in prosecution of [a] common object, house trespass and punishment for voluntarily causing hurt," ICCsaid. RELEASED ON BAIL However the suspects were released on bail the same day, the group added. In a statement, police reportedly said however they would "protect the Christians from further attacks" but ICC questions the officers intentions. ICC said Christians already filed a police complaint immediately after the violence but that officers only wrote a report onthe crime the next day after initially refusing to provide a so-called First Information Report. "We condemn the attacks on Faith Calvary Church by Hindu radicals. We urge Indian offi

"PARIS (Reuters) - French President Nicolas Sarkozy on Friday proposed setting up a group of 28 countries to guide global negotiations on climate change and avoid a repetition of last year's chaotic talks in Copenhagen. In a New Year address to the diplomatic community, Sarkozy said United Nations climate negotiations in Copenhagen in December had failed because of the huge number of countries involved in preparing the accord. "The main lesson from Copenhagen is that you can't negotiate in a round of 192," Sarkozy said, arguing that national leaders had arrived in the Danish capital to sign the accord only to find an illegible text full of disputed clauses. He proposed forming a "balanced, representative" group of 28 countries that would provide ideas and prepare for the next round of negotiations in Cancun. He did not name any of the proposed participants. "The wisest option would be to pursue a twin strategy -- talks among the 192, as that involves the whole international community, and among ministers and sherpas from the Group of 28," he said. Sarkozy said he wanted the Group of 28 to hold monthly meetings, starting in March, in New York or Bonn. Last month's Copenhagen talks ended with a bare-minimum agreement when delegates "noted" a deal struck by the United States, China and other emerging powers that fell short of the conference's original goals. Mexico will host the next talks in Cancun in November/December, building on the Copenhagen deal which seeks to limit the rise in temperature to 2 Celsius above the average recorded in pre-industrial times. The Copenhagen accord did not spell out how to achieve that goal."

"The US army is training a crack unit to seal off and snatch back Pakistani nuclear weapons in the event that militants, possibly from inside the country's security apparatus, get their hands on a nuclear device or materials that could make one. The specialised unit would be charged with recovering the nuclear materials and securing them. The move follows growing anti-Americanism in Pakistan's military, a series of attacks on sensitive installations over the past two years, several of which housed nuclear facilities, and rising tension that has seen a series of official complaints by US authorities to Islamabad in the past fortnight. "What you have in Pakistan is nuclear weapons mixed with the highest density of extremists in the world, so we have a right to be concerned," said Rolf Mowatt-Larssen, a former CIA officer who used to run the US energy department's intelligence unit. "There have been attacks on army bases which stored nuclear weapons and there have been breaches and infiltrations by terrorists into military facilities." "

"Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly. But this time around that is not the case. The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover. The problem is debt. Collectively, the U.S. government, the state governments, corporate America and American consumers have accumulated the biggest mountain of debt in the history of the world. Our massive debt binge has financed our tremendous growth and prosperity over the last couple of decades, but now the day of reckoning is here. And it is going to be painful. The following are 20 reasons why the U.S. economy is dying and is simply not going to recover.... #1) Do you remember that massive wave of subprime mortgages that defaulted in 2007 and 2008 and caused the biggest financial crisis since the Great Depression? Well, the "second wave" of mortgage defaults in on the way and there is simply no way that we are going to be able to avoid it. A huge mountain of mortgages is going to reset starting in 2010, and once those mortgage payments go up there are once again going to be millons of people who simply cannot pay their mortgages. The chart below reveals just how bad the second wave of adjustable rate mortgages is likely to be over the next several years...."

"(CNSNews.com) - The new federal hate crimes law has all the potential to be a major attack on religious liberty and freedom of speech, according to top religious liberty attorneys. The law was chosen the number one anti-Christian act of 2009 by the Christian Anti-Defamation League. Attorneys who defend religious rights agree: The recently enacted hate-crimes law is a threat to religious liberty. "The very fact that this law elevates 'sexual orientation' and 'gender identity' to the same protected status as race - that in and of itself is a cataclysmic shift in policy," said Mathew Staver, president of the religious liberty law firm Liberty Counsel and dean of the Liberty University Law School. "That will have a ripple effect far beyond the specific words of this bill," he added. "That is contrary to our Judeo-Christian heritage and beliefs, far beyond any particular disclaimer that it is not going to affect speech." Erik Stanley, an attorney with the Alliance Defense Fund, which is based in Scottsdale, Ariz., said the hate-crimes law is not about punishing crimes. It's about punishing beliefs and ideas. "It is actually a thought-crimes law," Stanley said. "There is no difference between, say, an assault that is already punishable, and an assault that is punishable as a hate crime, other than the belief of the perpetrator." "

"KABUL - The top U.S. and NATO commander in Afghanistan plans to tighten the rules on night raids, The Associated Press has learned, in a new step to curb public anger over perceived violations against civilians. Such raids have emerged as the No. 1 complaint among Afghans after Gen. Stanley McChrystal curbed the use of airstrikes and other weaponry last year. NATO spokesman Rear Adm. Gregory Smith told the AP a new directive would be issued soon to set down new rules for night raids. "It addresses the issue that's probably the most socially irritating thing that we do and that is entering people's homes at night," he said Wednesday. He would not elaborate pending a formal announcement. The U.S.-led force has become increasingly sensitive to complaints by Afghan civilians as part of a renewed effort to win support among the public and lure people away from the Taliban. Last year McChrystal curbed the use of airpower and heavy weapons if civilians could be put at risk. Smith said complaints about civilian deaths from airstrikes had dropped sharply after McChrystal's order last year but Afghans are "not seeing enough difference in our nighttime operations." He acknowledged the possible tactical difficulties but said the problem needed to be addressed in the effort to win the confidence of Afghan civilians and keep them from supporting the Taliban."

"WASHINGTON - Speaker Nancy Pelosi said Thursday that she lacks the votes to quickly move the Senate's sweeping health overhaul bill through the House, a potentially devastating blow to President Barack Obama's signature issue. Pelosi, D-Calif., made the comment to reporters after House Democrats held a closed-door meeting at which participants vented frustration with the Senate's massive version of the legislation. Her concession meant there was little hope for a White House-backed plan to quickly push the Senate-approved health bill through the House, followed by a separate measure making changes sought by House members, such as easing the Senate's tax on higher-cost health plans. Such an approach would be "problematic," she said, though Democrats haven't completely ruled out pursuing it. "In its present form without any changes I don't think it's possible to pass the Senate bill in the House," Pelosi said, adding, "I don't see the votes for it at this time." Pelosi also signaled that advancing health legislation through Congress will likely be a lengthy process - despite Democrats' desire for a quick election-year pivot to address jobs and the economy, which polls show are the public's top concern. "We're not in a big rush" on health care, Pelosi said. "Pause, reflect." Two days after the stunning special election in Massachusetts - where Republicans captured the Senate seat held for decades by the late Edward Kennedy - many House Democrats said one lesson was that the public wanted a more modest approach to overhauling the health care system. Several said Democrats should refocus the legislation onto popular proposals like barring insurance companies from denying coverage to sick people."

"Dubai: The government of Dubai on Thursday announced that it is fully prepared to host the headquarters of the United Nations if its officials decide to move from New York where the organisation is currently located. According to an official source in the Dubai government, the announcement was made in light of the UAE's - and Dubai's - appreciation of the vital role the United Nations plays in all areas, and in the protection of international peace and security and economic development in particular. The source said Dubai welcomes dialogue with UN officials to provide them with full information on the capabilities which the emirate can provide and which could make it the optimal choice as the new seat of the UN headquarters if a final decision is taken to move out of New York. Among the capabilities which Dubai possesses are suitable geographical location and world-class infrastructure and air, land and sea transport systems which make the emirate an easily accessible meeting point in the middle of the world, noted the source. Dubai's offer is part of efforts the UAE is making to assume its full role as a responsible and effective member of the international community and to find alternatives to contribute to stronger international joint actions."

"In 2005, General Chi Haotian of China, its "Minister of National Defense" since 1993 to 2003, revealed in his speeches that in China's war on the U.S.A., from one-third to two-thirds of Americans would be poisoned or infected biologically by the Chinese, and their homes and property would be transferred over to Chinese settlers, since the Chinese (and not the Germans, as Chi stipulated in his speech) are the superior race and must have everything best in the world. Anyway, a slave state (China) has this advantage over a free country (the United States): it can reward (enrich!) 100 million or 200 million of its troops and its civilians with what those killed (poisoned and infected) Americans and their ancestors had been acquiring for the past two and a half centuries. In the United States , an American's betrayal of his country to China may well be seen to be his use of his freedom. This certainly applies to the U.S. Presidents, whose elections (which have little to do with the appointment of the prime minister in Britain) contradict the knowledge of mental ability, according to which the value of a thought may include its exclusivity: Einstein said that he was understood by seven people in the world. It was only owing to Einstein's letter to President Roosevelt in 1939 that the Americans got the nuclear bombs before Hitler's Germany completed its nuclear project. "

"In an interview with Kuwaiti newspaper Al-Rai published on Sunday, a US official who spoke on condition of anonymity said that "if Syria supplies Hezbollah with surface-to-air missiles (SA-2), war will break out and Tel Aviv will directly strike Damascus." In addition, the official said Syria trained Hezbollah members in Damascus on how to use the SA-2 missiles. Israel has previously warned the country not to supply Hezbollah with the missiles, according to the US source. "Any possible military attack by Hezbollah against Israel will be met by a 'harmful war' on Lebanon. Israel made a mistake in 2006 by not striking Syria during the war with Lebanon, and any new attack from Hezbollah against it will not spare Damascus from a strike," he added. Israel's top priority, the official said, is preventing Syria from supplying Hezbollah with the SA-2 missiles. "During the 2006 war in Lebanon, Damascus told Tel Aviv it wanted peace and was not going to side with Hezbollah," the official alleged. Following the war, however, the United Nations and international intelligence community have been monitoring attempts to smuggle weapons from Syria to Hezbollah, he added. The official also compared South Lebanon after the 2006 war to the situation in the Golan Heights in Syria, which he said has enjoyed a calm climate after a cease-fire agreement was signed between Israel and late Syrian President Hafez al-Assad in 1974. He said Hezbollah's desire to liberate the Shebaa farms, which is occupied by Israel, does not justify military attacks against the entity. "Launching war with Tel Aviv is not an excuse for Hezbollah." The official said he does not think a war will break out anytime soon, "unless Syria crosses the line." End item/ 129"

"Haitian officials estimated Wednesday that the death toll might reach between 100,000 and 150,000 and that 70,000 bodies have already been buried in mass graves. But U.N. officials say the numbers are at best a guess. The grim process of counting the dead has been complicated by the breakdown of government institutions, including the collapse of hospitals and morgues. Many people are still buried under collapsed homes, hotels and government buildings, making a final count premature. "People are still being pulled out of the rubble, extraordinarily," said John Holmes, U.N. emergency relief coordinator. He noted that foreign rescue teams had pulled more than 120 people out alive from collapsed buildings. "And we'll continue with that as long as there is any hope of finding people alive." Even measuring the United Nations' dead has been a struggle. For several days, it declined to provide details about its deceased staff, leaving it to governments to confirm the deaths of their nationals. U.N. officials said their caution was driven by a concern that families first be notified of a loved one's death and that no mistakes be made. Other officials say the United Nations has been especially cautious about releasing the names of their dead because of previous mistakes. After the 2003 suicide attack against U.N. headquarters in Baghdad, which killed 22 U.N. officials and guests, at least one staffer who survived was reported dead. "

"U.S. says Yemen group one of many al Qaeda branches Susan Cornwell WASHINGTON Wed Jan 20, 2010 9:02pm EST Related News * Yemen strikes at al Qaeda, Britain stops flights Wed, Jan 20 2010 * Yemen says strikes house of al Qaeda militant Wed, Jan 20 2010 * U.S. citizens in Yemen may pose threat, report says Tue, Jan 19 2010 * Qaeda denies fighters killed, Yemen vows more strikes Mon, Jan 18 2010 * Yemen in war with al Qaeda, urges citizens to help Thu, Jan 14 2010 WASHINGTON (Reuters) - Yemen has made progress in its U.S.-backed fight against al Qaeda, but the extremist group continues to spread elsewhere and has some two dozen affiliates across a swathe of the globe, U.S. officials said on Wednesday. World At congressional hearings, U.S. officials painted a picture of an al Qaeda that has expanded from Afghanistan to Iraq, the Arabian peninsula, Africa and southeast Asia. "Al Qaeda is now difficult to define," Admiral Eric Olson commander of the U.S. Special Operations Command, told a House of Representatives Armed Services subcommittee. "More than two dozen associated ... groups have established themselves in Iraq, the Arabian peninsula, the Horn of Africa, the trans-Saharan region, the Maghreb of north Africa, west Africa and southeast Asia, and there are several different groups now operating within and from Afghanistan and Pakistan," Olson said. Olson said al Qaeda's forces have been regenerated in part by extremists who had been detained, were released and then joined militant groups. He said officials estimate about one fifth of former detainees are "somehow re-engaging in activity ... against our interests." Critics of Obama's call to close the prison at the U.S. military base at Guantanamo Bay, Cuba, have cited the movement of former detainees to militant groups as reason to keep the facility."

"It has been a bleak winter for the Intergovernmental Panel on Climate Change. The credibility of the UN body came under attack days before the opening of the Copenhagen climate summit in December, when leaked e-mails from the University of East Anglia appeared to show manipulation of temperature data used by the panel. Rajendra Pachauri, the IPCC chairman, was forced to spend much of his time at the conference defending the integrity of the science contained in the panel's reports. Now it has been forced to apologise for including a highly alarmist claim in its most recent report that Himalayan glaciers were very likely to vanish by 2035. Most glaciologists believe the melting would take hundreds of years and some doubt that it will ever happen, pointing to evidence of glaciers advancing in the neighbouring Karakoram mountain range. The IPCC reports underpin every country's decisions about climate change. If the panel cannot be trusted, it becomes much more difficult to justify the global effort to cut greenhouse gases. That is why it is vital to place the allegations against the IPCC in context. While it is alarming that none of the 2,500 scientists who contributed to its 2007 report spotted the error, this is explained partly by it appearing in a single sentence on page 493. Climate sceptics around the world have spent two years scrutinising every claim made by the panel. So far they have identified one serious error; it seems unlikely that they will find many more. The IPCC should now re-check all the sources of statements in its report, but this process will not alter its conclusion that man-made emissions are very likely to be the main cause of global warming. "

"A California judge today tentatively scheduled a trial for Jan. 26, 2010, for a case that challenges Barack Obama's eligibility to be president based on questions over his qualifications under the requirements of the U.S. Constitution. If the case actually goes to arguments before U.S. District Judge David Carter, it will be the first time the merits of the dispute have been argued in open court, according to one of the attorneys working on the issue. In a highly anticipated hearing today before Carter, several motions were heard, including a resolution to long-standing questions about whether attorney Orly Taitz properly served notice on the defendants, which she had. In a second ruling, Carter ordered that attorney Gary Kreep of the United States Justice Foundation can be added to the case to represent plaintiffs Wiley Drake and Markham Robinson, who had been removed by an earlier court order. Drake, the vice presidential candidate for the American Independent Party, and Robinson, the party's chairman, also were restored to the case. Want to know for certain where Obama was born? Demand the truth by joining the petition campaign to make President Obama reveal his long-form, hospital-generated birth certificate! But the judge did not immediately rule on Taitz' motion to be granted discovery - that is the right to see the president's still-concealed records. Nor did Carter rule immediately on a motion to dismiss the case, submitted by the U.S. government, following discussion over Taitz' challenge to the work of a magistrate in the case. The judge did comment that if there are legitimate constitutional questions regarding Obama's eligibility, they need to be addressed and resolved. Carter ordered a hearing Oct. 5 on the motion to dismiss and ordered arguments submitted on the issue of discovery. If the case survives that challenge, a pretrial hearing has been scheduled for Jan. 11 and the trial for two weeks later. The case would be the first time, accor

"Russia diversifies into Canadian dollars By Peter Garnham Published: January 20 2010 16:46 | Last updated: January 20 2010 16:46 Russia's central bank announced on Wednesday that it had started buying Canadian dollars and securities in a bid to diversify its foreign exchange reserves. Analysts said the move could be a sign of increased diversification of emerging market central bank assets away from the dollar and into investments denominated in other commodity-linked currencies, such as the Australian dollar. Adam Cole at RBC Capital Markets said if taken in isolation, Russia's announcement that it was buying Canadian dollars was not significant, but if it was part of a broader trend, then it was an important step. "If it is a barometer for the activity of other central banks, then its is structurally positive for the currencies of countries like Canada and Australia that have a commodity bias in their economies," he said. Although not officially confirmed, traders said that other emerging market central banks, including some in Asia which hold large foreign exchange reserves, have also been active in the foreign exchange market in recent weeks buying both Canadian dollars and Australian dollars. Alexei Ulyukayev, first deputy chairman of Russia's central bank, said that it would invest in Canadian dollar-denominated deposits and bonds. "The Canadian financial market is not very deep, so we can invest in deposits in significant volumes, while the bond market is limited," he said. Although the central bank did not specify how much of its reserves it was allocating to assets denominated in the Canadian dollar, analysts estimated that the central bank could put up to $9bn, or 2 per cent, of its foreign exchange reserves into the currency."