In accordance with today’s announcement by the Bank of Canada to reinforce its conditional commitment to maintain the overnight rate at 1/4 per cent, the Bank releases further details on the modifications to, and new schedule for, the Bank of Canada regular term PRA facility, commencing the week of 27 April 2009.

Further details for these operations including the eligible securities, are available in the Terms and Conditions for the regular term Purchase and Resale Agreement (PRA) Facility

The new schedule is as follows:

Regular Term PRA Facility
Auction (Settlement)
Date
New Amount
(millions)
Amount Maturing
(millions)
Term (Days) Maturity Date
April 2009
27(29) 1 minimum $4,000 $8,000 28 27 May 2009
May 2009
4 (7) minimum $3,000 $4,000 363 5 May 2009
11 (13) minimum $3,000 $4,000 168 28 October 2009
19 (21) minimum $3,000 $4,000 83 12 August 2009
25 (27) minimum $4,000 minimum $4,000 29 25 June 2009
June 2009
1 (4) minimum $3,000 $3,000 363 2 June 2009
8 (10) minimum $2,000 168 25 November 2009
15 (17) minimum $3,000 85 10 September 2009
22 (25) minimum $4,000 minimum $4,000 27 22 July 2009
29 (2 July) minimum $2,000 $5,000 363 30 June 2009
July 2009
6 (8) minimum $2,000 168 23 December 2009
13 (15) minimum $3,000 84 7 October 2009
20 (22) minimum $4,000 minimum $4,000 28 19 August 2009
Substitution Schedule
Notice Date 2 Substitution Date
29 April 1 May
13 May 15 May
27 May 29 May
10 June 12 June
24 June 26 June
8 July 10 July
22 July 24 July