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Eligible Securities

Term PRA Term PRA for Private Sector Money Market Instruments** Term PRA for Private Sector Instruments Term Loan Facility

The list of eligible securities for these transactions includes the marketable securities accepted for the Standing Liquidity Facility (SLF) with the following exceptions:

  • Special Deposit Accounts held at the Bank of Canada will not be accepted.

  • Bank-sponsored affiliated ABCP meeting the Bank of Canada's criteria will be accepted on a temporary basis.

  • Corporate bonds with long-term issuer credit ratings below A (low) by DBRS, A- by S&P and A3 by Moody's, so long as the minimum long-term issuer ratings are at least two of the following: BBB or higher by DBRS, BBB or higher by S&P or Baa2 or higher by Moody's will be accepted.

The eligible securities for these transactions will consist of Canadian-dollar denominated:

  • Bankers' acceptances and promissory notes, including those of foreign issuers, (maximum term, 364 days) with a minimum issuer credit rating of R1 (low) by the Dominion Bond Rating Service (DBRS), or A-1 (mid) by Standard and Poor's (S&P), or P1 by Moody's Investors Service (Moody's).

  • Commercial paper, including that of foreign issuers, (maximum term, 364 days) with a minimum issuer credit rating of R1 (low) by DBRS, or A-1 (mid) by S&P, or P1 by Moody's.

  • Asset-backed commercial paper (ABCP) of eligible programs, with a minimum of two credit ratings, at least two ratings that are either R1 (high) by DBRS, A-1 (high) by S&P, P1 by Moody's, or F1+ by Fitch Ratings.

The eligible securities for these transactions will consist of Canadian-dollar denominated:

  • Bankers' acceptances and promissory notes, including those of foreign issuers, maximum term, 364 days) with a minimum issuer credit rating of R1 (low) by the Dominion Bond Rating Service (DBRS), or A-1 (mid) by Standard and Poor's (S&P), or P1 by Moody's Investors Service (Moody's).

  • Commercial paper, including that of foreign issuers, (maximum term, 364 days) with a minimum issuer credit rating of R1 (low) by DBRS, or A-1 (mid) by S&P, or P1 by Moody's.

  • Asset-backed commercial paper (ABCP) of eligible programs, with a minimum of two credit ratings, at least two ratings that are either R1 (high) by DBRS, A-1 (high) by S&P, P1 by Moody's, or F1+ by Fitch Ratings.

  • Corporate bonds with a minimum long-term issuer credit rating of A (low) by DBRS, or A- by S&P, or A3 by Moody's.

  • Corporate bonds with long-term issuer credit ratings below A(low) by DBRS, A- by S&P and A3 by Moody's, so long as the minimum long-term issuer credit ratings are at least two of the following: BBB or higher by DBRS, BBB or higher by S&P or Baa2 or higher by Moody's.
The non-mortgage loan portfolio, as accepted temporarily in the Standing Liquidity Facility (SLF). Only the portion of the non-mortgage loan portfolio value that is not included in the High Availability Banking System (HABS) collateral pool is eligible.

** As of March 16, 2009, this facility was discontinued and replaced with the Term PRA for Private Sector Instruments.