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Bank of Canada Announces Details of its Final Term Loan Facility Operations

In accordance with the 22 September Bank of Canada announcement that the Term Loan Facility (TLF) auctions will expire at the end of October, the Bank announced today the details of the final two TLF operations:

Amount Auction Date Settlement Date Term (Days) Maturity Date
$1 billion 1 21 October 2009 22 October 2009 28 19 November 2009
$1 billion 28 October 2009 29 October 2009 28 26 November 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 each operation will be announced on the Bank's web site at 10:30 (ET).

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

Further details for these operations are available in the Terms and Conditions for the TLF Facility.

The Bank of Canada continues to closely monitor global market developments and remains committed to providing liquidity as required to support the stability of the Canadian financial system and the functioning of financial markets.

For further information, please contact:

613 782-8782

Content Type(s): Press, Market notices
  1. 1. As previously announced on 21 July 2009.[]