Bank of Canada Announces Details of its 28 Day Term PRA Transaction

In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 3 November, the Bank of Canada announced today that it will enter into a 28-day term PRA transaction as follows:

Amount Auction Date Settlement Date Maturity Date
$10 billion 10 November 2008 13 November 2008 11 December 2008

The terms for this auction will be the same as those announced on Monday 27 October 2008 for the 28 October 28-day term PRA.

The auction will be held on 10 November at 9:00 (ET) and the results of this operation will be announced on the Bank's web site at 9:45 (ET). The total amount of assets acquired through this term PRA operation will be announced on the Bank's web site on the settlement day by 16:45 (ET).

The Bank will continue to provide additional term liquidity as long as conditions in financial markets warrant.

For further information, please contact:
Jeremy Harrison
613 782-8782

Content Type(s): Press, Market notices