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Transparency is the cornerstone of a well-functioning financial system. It's an issue that has been getting a lot of attention, and deservedly so, as we consider what has gone wrong in the market for asset-backed commercial paper.

Each year since 2004, the Bank of Canada has undertaken a questionnaire with banks that are active in the Canadian dollar foreign exchange market through offices in Toronto and/or Montréal.

The Board of Directors of the Bank of Canada today announced the appointment of John D. Murray as Deputy Governor of the Bank and a member of the Bank's Governing Council, effective 4 January 2008.

On 12 December 2007, the Bank of Canada announced that it would enter into term purchase and resale agreements (term PRAs) extending over the calendar year with maturities on 4 January and 10 January 2008.

The Bank of Canada welcomes the announcement that an agreement-in-principle has now been reached among parties to the Montreal Accord for the restructuring of non-bank asset-backed commercial paper.

Beginning today, the Bank of Canada is inviting nominations for the fifth annual Law Enforcement Award of Excellence for Counterfeit Deterrence. This award recognizes police officers, employees, or volunteers of a Canadian law-enforcement agency who have demonstrated outstanding commitment and initiative in counterfeiting deterrence and prevention.

The results of today's term PRA operations

Today, the Bank of Canada provided the final details of the 18 December term purchase and resale agreement (term PRA) operation

The Bank of Canada is pleased that substantial progress towards establishing a broad framework for the restructuring of the third-party structured asset-backed commercial paper (ABCP) under the Montreal Accord has been made by the parties involved.

The results of today's term PRA operations