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Bank of Canada leaves C$988 mln in settlement system

Thu Nov 22, 2007 4:00pm EST

OTTAWA, Nov 22 (Reuters) - The Bank of Canada is leaving C$988 million ($1.01 billion) in the Large Value Transfer System on Thursday and plans to leave C$25 million in the system on Friday, the central bank announced.

Bonds

Under normal circumstances it targets a balance of C$25 million in the system, to allow easy settlement of balances between banks, but when the credit crunch hit in August it had set its sights much higher for several weeks.

($1=$0.98 Canadian)

(Reporting by Louise Egan; Editing by Peter Galloway)

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