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In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 20 October (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation as follows.

Given improved conditions in funding markets, the Bank of Canada is announcing that, starting 2 February 2010, its temporary measure of allowing Large Value Transfer System (LVTS) participants to assign their non-mortgage loan portfolios as eligible collateral for LVTS and Standing Liquidity Facility (SLF) purposes will be gradually reduced from 100 per cent to 20 per cent of each participant's total pledged collateral.

The Department of Finance and the Bank of Canada are seeking the views of government securities distributors, institutional investors, and other interested parties on issues relating to the design and operation of the domestic Government of Canada debt program for 2010-11 and beyond.

Senior Deputy Governor Paul Jenkins has announced that he will not seek renewal of his term of office and will leave the Bank of Canada when his seven-year term expires in April 2010.

Mr. Paul Jenkins, the current Senior Deputy Governor of the Bank of Canada, has advised the Bank that he will not seek renewal of his term of office and will leave the Bank of Canada when his current seven-year term expires in April 2010

While conditions in the Canadian economy have improved since we met with you in May, many of the basic challenges remain. Before Paul and I take your questions, allow me to outline some of the highlights from our latest Monetary Policy Report, which the Bank released last week.

The results of today's TLF operation are as follows.

While conditions in the Canadian economy have improved since we met with you in February and April, many of the basic challenges remain. Before Paul and I take your questions, I would like to give you some of the highlights from our latest Monetary Policy Report, released last week.

The results of today's term PRA operations are as follows.