Bank of Canada Announces Details of its 28 Day Term PRA Transaction
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 3 November, the Bank of Canada announced today that it will enter into a 28-day term PRA transaction as follows:
|Amount||Auction Date||Settlement Date||Maturity Date|
|$10 billion||10 November 2008||13 November 2008||11 December 2008|
The terms for this auction will be the same as those announced on Monday 27 October 2008 for the 28 October 28-day term PRA.
The auction will be held on 10 November at 9:00 (ET) and the results of this operation will be announced on the Bank's web site at 9:45 (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).
The Bank will continue to provide additional term liquidity as long as conditions in financial markets warrant.
For further information, please contact: