No. We have two official languages in this country, so I should respond in French.
In January, for two days, I believe, we carried out overnight reverse repo operations. The amount wasn't exactly the same each time, but it was around $5 billion. These are daylight loans, so after one day, the amount is repaid. We can't accumulate the $5 billion. The last day of the operation was January 23, I believe. We haven't done the operation for about a week.
I want to focus on some aspects of these overnight reverse repo operations. These operations are routine and standard. They aren't a sign of financial stability issues. This doesn't mean that there are issues in the system. Certain market frictions exist to ensure that money goes exactly where it's needed in the economy. From time to time, we need to carry out this type of operation.
We do this because, when we make a monetary policy decision, we decide on the overnight policy interest rate target. We decided that we want an overnight policy interest rate of 5%.
Recently, there has been some upward pressure. The overnight rate is higher than our 5% target. We don't want interest rates to rise more than we had anticipated in the monetary policy.
These operations are symmetrical. From time to time, the rate is below our target. We carry out reverse repo operations, meaning that we use deposits, not loans, to withdraw and increase the system's liquidity.
I think that I answered your question.