Announcements

The Bank of Canada is seeking comments from direct participants in the Large Value Transfer System (LVTS) and other interested parties on the proposed eligibility criteria for accepting asset-backed commercial paper (ABCP) as collateral for the Bank of Canada's Standing Liquidity Facility (SLF).

In accordance with the Bank of Canada Act, the Governor of the Bank of Canada is appointed by the independent directors with the approval of the Governor in Council (federal Cabinet). Following an announcement on 25 April 2007 that the current Governor, Mr. David Dodge, would not be seeking reappointment at the end of his seven year mandate on 31 January 2008, the Bank's Board of Directors initiated a process to find a replacement.

The principal mission of the Bank of Canada is the formulation and implementation of Canada's national monetary policy to promote the economic and financial welfare of the country.

Effective 15 May 2003 the following changes will be made to the Bank of Canada Commodity Price Index (BCPI).

The Bank of Canada is changing two of its operational procedures relating to the Large Value Transfer System (LVTS), effective 2 April 2001.

As it has done in the Fall of previous years, the Department of Finance jointly with the Bank of Canada held consultations with market participants on issues relating to the design and operation of government debt programs in 2001-2002.

Today, the Group of Ten released its Report on Financial Sector Consolidation

On behalf of the Minister of Finance, the Bank of Canada announced today that the government will be proceeding on a pilot basis with a bond buyback program for cash management purposes. The program is designed to reduce the peak levels of government cash balances needed to redeem large upcoming maturities of Government of Canada marketable bonds. Design of the operational framework has been based on consultations with market participants.

The strip bond sub-committee of the Investment Dealers Association (IDA), in a letter dated June 23, 1999, has recommended that “the current ceiling on reconstitution of bonds should be removed to allow reconstitution beyond the quantity stripped by book entry, which at times may be beyond the original issue size”.