Bank of Canada Announces Details of its Term Loan Facility Operation
In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 21 July (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|
|$1 billion||7 October 2009||8 October 2009||28||5 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 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: