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Bank of Canada Announces Details of its Term Loan Facility Operation

In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 24 April (see schedule), the Bank of Canada announced today that it will conduct a TLF operation as follows:

Amount Auction Date Settlement Date Term (Days) Maturity Date
$2 billion 17 June 2009 18 June 2009 28 16 July 2009

Eligible participants are asked to submit their bids between 9:15 and 9:30 (ET) on the day of the auction. The results of this operation will be announced on the Bank's web site at 10:30 (ET).

The total amount of funds allocated through this TLF operation will be announced on the Bank's web site on the settlement day by 16:45 (ET). This operation will also be reflected on the Bank of Canada's balance sheet.

Further details for this operation are available in the Terms and Conditions for the TLF Facility.

The Bank will continue to provide additional term liquidity as long as conditions in financial markets warrant.

For further information, please contact:

613 782-8782

Content Type(s): Press, Market notices