Further to the Bank's announcement on 14 October 2008 of new measures to provide liquidity to the Canadian financial system as part of the G7 action plan, the Bank has established the period for the temporary eligibility of non-mortgage loan portfolios for collateral purposes.
In order to hone its focus on a safe and sound financial system, reinforce research, and streamline management processes, the Bank of Canada has realigned responsibilities and made a series of senior appointments to lead its work in monetary policy, financial stability, management of the Government of Canada's funds, and Canadian bank notes.
The Bank of Canada announced today it will sell $0.85 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 today.
Since 19 September 2008, the Bank of Canada has extended $26 billion in seven Purchase and Resale Agreement (PRA) operations to provide liquidity to Canadian term lending markets.
In accordance with the 14 October 2008 announcement of new measures to provide liquidity to the Canadian financial system, the Bank of Canada announced today that it will enter into 14-day term purchase and resale agreement (PRA) for private sector money market instruments on the following dates: