Bank of Canada Announces Details of its 84 Day Term PRA Transaction
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 20 January, the Bank of Canada announced today that it will enter into a 84-day term PRA transaction as follows:
| Amount | Auction Date | Settlement Date | Maturity Date |
|---|---|---|---|
| $4 billion | 10 February 2009 | 12 February 2009 | 7 May 2009 |
Further details for this operation, including the eligible securities, are available in the Terms and Conditions of the PRA Facility.
The auction will be held on 10 February at 9:15 (ET) and the results of this operation will be announced on the Bank's web site at 10:15 (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.
Participants will have the right to substitute the securities underlying the transaction on 13 March 2009 and on 9 April 2009, subject to notice by noon on the previous business day and in accordance with the Bank's Purchase and Resale Agreement.
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