In accordance with the 14 October 2008 announcement of new measures to provide liquidity to the Canadian financial system, the Bank of Canada announced today that it will enter into 14-day term purchase and resale agreement (PRA) for private sector money market instruments on the following dates:

Auction Minimum Amount ($millions) Amount Maturing ($millions)
10 November 2008 1,000 25
17 November 2008 1,000
24 November 2008 1,000
1 December 2008 1,000
8 December 2008 1,000

Further details of the auction to be held on 10 November will be announced on 6 November. Further information about this facility, including eligible participants and securities, are available in the Terms and Conditions of the Term PRA Facility for Private Sector Money Market Instruments.

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