Enenajor, Emanuella; Sebastian, Alex; Witmer, Jonathan - In: The North American Journal of Economics and Finance 23 (2012) 1, pp. 123-143
This paper empirically assesses the effectiveness of the Bank of Canada's term Purchase and Resale Agreement (PRA) facility in reducing funding pressures, as measured by the CDOR-OIS spread. It examines the behaviour of this spread around both term PRA announcement dates and term PRA operation...
