Bank of Canada Announces Details of its Term Repo for Balance Sheet Management Purposes Operation

The Bank of Canada announced today that it will conduct a Term Repo for Balance Sheet Management Purposes operation as follows:

Amount millions) Auction Date Settlement Date Term (Days) Maturity Date
$750 9 December 2010 9 December 2010 34 12 January 2011

Primary dealers are asked to submit their bids to the Bank of Canada between 09:15 and 09:30 (ET) on the day of the auction. The results of this operation will be announced on the Bank’s web site by 10:00 (ET). Winning bidders must notify the Bank of Canada of the securities that will be used in the operation by 11:00 (ET) on the day of the auction.

The total amount of assets acquired through this Term Repo operation will be announced on the Bank’s website on the settlement day by 16:45 (ET). This operation will also be reflected on the Bank of Canada’s balance sheet.

Further details related to this operation are available in the Terms and Conditions for Term Repo for Balance Sheet Management Purposes.

This operation has no implications for monetary policy or financial stability.

The substitution schedule for this operation is as follows:

Substitution Schedule

Notice Date1 Substitution Date
21 December 2010 23 December 2010
4 January 2011 6 January 2011

For further information, please contact:
Jeremy Harrison
613 782-8782

Content Type(s): Press, Market Notices