Bank of Canada Announces Details of its Future Term PRA Facility for Private Sector Money Market Instruments
The Bank of Canada is publishing today the schedule of its term Purchase and Resale Agreements (PRA) for private sector money market instruments to the end of January.
| Auction (Settlement) Date | New Amount (millions) | Term (Days) | Maturity Date |
| December | |||
| 1 (3)* | $1,000 | 14 | 17 December |
| 8 (10)* | minimum $1,000 | 13 | 23 December |
| 15 (17) | minimum $1,000 | 21 | 7 January |
| 19 (23) | minimum $1,000 | 15 | 7 January |
| January | |||
| 5 (7) | minimum $1,000 | 14 | 21 January |
| 12 (14) | minimum $1,000 | 14 | 28 January |
| 19 (21) | minimum $1,000 | 14 | 4 February |
| 26 (28) | minimum $1,000 | 14 | 11 February |
* These private sector money market term PRAs were originally announced on 31 October as part of the Bank's schedule of future private sector money market term PRA transactions.
Further details for these operations, including the eligible participants and securities, are available in the Terms and Conditions of the Term PRA Facility for Private Sector Money Market Instruments.
The next auction will be held on 1 December at 10:00 (ET) and the results of this operation will be announced on the Bank's web site at 11:00 (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). These transactions will also be reflected on the Bank of Canada's balance sheet.
The minimum bid rate for the 1 December auction will be announced on the Bank's web site at 9:00 (ET) on 1 December and will be calculated as a spread of 75 bps over the average of the Bank of Canada's overnight rate target and the 1-month OIS rate as observed by the Bank.
The Bank will continue to provide additional term liquidity as long as conditions in financial markets warrant.
For press enquiries, please contact:
613 782-8782
Market participants requesting further information should contact:
613 782-8757