Bank of Canada Announces the New Schedule for Bank of Canada Term PRA Liquidity Operations Commencing the Week of 26 October 2009
As indicated in the 22 September announcement, the Bank of Canada today releases the new schedule for Bank of Canada Term PRA liquidity operations commencing the week of 26 October 2009 and running through to the January 2010 Fixed Announcement Date.
To reinforce the Bank’s conditional commitment to maintain the overnight rate at 1/4 per cent until the end of the second quarter of 2010, the minimum and maximum bid rates for the regular Term PRA operation will continue to be at the target rate and the Bank Rate, respectively. The maturity of the longest Term PRA is being reduced from 9 months to 6 months, so that maturity dates will roughly correspond with the end of the second quarter of 2010.
As indicated in the 22 September announcement, Term PRA auctions will continue through to at least the end of January 2010.
The Bank of Canada remains committed to providing liquidity as required to support the stability of the Canadian financial system and the functioning of financial markets.
Further details on the Bank of Canada Term PRA facility are available in the Terms and Conditions for the Term PRA Facility.
| Term PRA Facility | ||||
|---|---|---|---|---|
| Auction (Settlement) Date |
New Amount (millions) |
Amount Maturing (millions) |
Term (Days) | Maturity Date |
| October 2009 | ||||
| 26 (28) | minimum $1,000 | $3,000 | 84 | 20 January 2010 |
| November 2009 | ||||
| 9 (12) | minimum $1,000 | $1,000 | 168 | 29 April 2010 |
| 23 (25) | minimum $1,000 | $2,000 | 85 | 18 February 2010 |
| December 2009 | ||||
| 7 (9) | minimum $1,000 | $750 | 169 | 27 May 2010 |
| 21 (23) | minimum $1,000 | $2,000 | 85 | 18 March 2010 |
| January 2010 | ||||
| 5 (7) | minimum $1,000 | $1,000 | 169 | 25 June 2010 |
| 18 (20) | minimum $1,000 | minimum $2,000 | 85 | 15 April 2010 |
| Substitution Schedule | |
|---|---|
| Notice Date 1 | Substitution Date |
| 4 November 2009 | 6 November 2009 |
| 18 November 2009 | 20 November 2009 |
| 2 December 2009 | 4 December 2009 |
| 16 December 2009 | 18 December 2009 |
| 6 January 2010 | 8 January 2010 |
| 20 January 2010 | 22 January 2010 |