The Bank of Canada announced today it will sell $1.8 billion of its holdings of treasury bills. This transaction will partially offset the temporary increase in assets associated with the term purchase and resale transactions announced yesterday.
The Bank of Canada strongly welcomes the decisive actions announced today by the U.S. authorities. These significant and timely measures are part of the implementation of the G7 Action Plan agreed last Friday.
In light of persistent pressures in term lending markets, the Bank of Canada announced today that it will enter into a 91-day Purchase and Resale Agreement (PRA) transaction as follows: