The turmoil in global financial markets entered a new phase in September, moving to a more acute and broad-based loss of confidence in the context of a series of failures and near-failures of large financial institutions in the United States and Europe.
In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 28 November, the Bank of Canada announced today that it will enter into a 30-day TLF transaction as follows: