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Bank of Canada announces term PRAs for January

Mon Dec 1, 2008 3:43pm EST

TORONTO, Dec 1 (Reuters) - The Bank of Canada announced on Monday four new term Purchase and Resale Agreement (PRA) operations for January to boost market liquidity.

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The PRAs range from C$3 billion ($2.4 billion) to C$4 billion and have terms of 28 days to 84 days.

The central bank also increased the minimum amounts for three of its previously announced term PRAs for December. Two of the PRAs, on Dec. 16 and Dec. 19, will now be for C$6 billion instead of C$4 billion, and another will be increased to C$10 billion from C$4 billion.

The bank said it would sell some C$900 million of its treasury bill holdings on Dec 4 to partially offset the temporary increase in assets associated with its outstanding term liquidity facilities.

Click here for the announcement: here ($1=$1.24 Canadian) (Reporting by John McCrank; Editing by Frank McGurty)

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