The Bank of Canada announced today that it will conduct a Term Repo for Balance Sheet Management Purposes operation as follows:

Amount (millions) Auction Date Settlement Date Term (Days) Maturity Date
$900 21 December 2012 21 December 2012 24 14 January 2013

Primary dealers are asked to submit their bids to the Bank of Canada between 09:15 and 09:30 (ET) on the day of the auction. The results of this operation will be announced on the Bank’s web site by 10:00 (ET). Winning bidders must notify the Bank of Canada of the securities that will be used in the operation by 11:00 (ET) on the day of the auction.

The total amount of assets acquired through this Term Repo operation will be announced on the Bank’s website on the settlement day by 16:45 (ET). This operation will also be reflected on the Bank of Canada’s balance sheet.

This operation is for balance sheet management purposes only and has no implications for monetary policy or financial stability.

The substitution schedule for this operation is as follows:

Substitution Schedule

Notice Date 1: 2 January 2013
Substitution Date: 4 January 2013

Further details related to this operation are available in the Terms and Conditions for Term Repo for Balance Sheet Management Purposes.

For further information please contact:
Jeremy Harrison
Bank of Canada
613 782-8782

  1. The notice to substitute must be submitted to the Bank of Canada by noon, at the latest, on the notice date. []