Market notices

The results of today's term PRA operations are as follows:

Since the co-ordinated actions taken in December 2007, the G10 central banks have continued to work together closely and to consult regularly on liquidity pressures in funding markets. Pressures in some of these markets have recently increased again.

Today, a Summary of Comments on the Debt Strategy Consultations for 2008/09 is being published on the Bank of Canada's website in conjunction with the release of the government's Debt Management Strategy for 2008/09 on the Department of Finance's website.

Section 5.1 of the Statement of Policy Governing the Acquisition and Management of Financial Assets for the Bank of Canada's Balance Sheet states that "The Bank's holdings of Government of Canada nominal bonds and treasury bills are structured to broadly reflect the composition of the federal government's stock of nominal domestic marketable debt."

Each year since 2004, the Bank of Canada has undertaken a questionnaire with banks that are active in the Canadian dollar foreign exchange market through offices in Toronto and/or Montréal.

On 12 December 2007, the Bank of Canada announced that it would enter into term purchase and resale agreements (term PRAs) extending over the calendar year with maturities on 4 January and 10 January 2008.

The Bank of Canada welcomes the announcement that an agreement-in-principle has now been reached among parties to the Montreal Accord for the restructuring of non-bank asset-backed commercial paper.

The results of today's term PRA operations

Today, the Bank of Canada provided the final details of the 18 December term purchase and resale agreement (term PRA) operation

The Bank of Canada is pleased that substantial progress towards establishing a broad framework for the restructuring of the third-party structured asset-backed commercial paper (ABCP) under the Montreal Accord has been made by the parties involved.