Special Purchase and Resale Agreement

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Special Purchase and Resale Agreement

A practice in which the Bank of Canada buys securities from a bank with the proviso that the bank repurchases the same securities for an agreed-upon price the following day. The Bank of Canada does this to increase the amount of money in circulation (the purchase price for the securities), which reduces overnight interest rates and increases the availability of credit. See also: Open-market operation.
References in periodicals archive ?
Mesaba will file a plan of reorganisation with its bankruptcy court that will implement the terms of the SPRA and provide for a release of any claims Mesaba may have against MAIR.
Failure of the SPRA feature caused distributions of Additional Interest, Supplemental Interest and Contingent Interest to go to paydown the notes; however, payments Additional Interest resumed once the feature was brought into compliance.
Additional Interest, Supplemental Interest and Contingent Interest payments have not been made since the last review and are not expected to be made until the SPRA is satisfied.
debris disposal, for the following sites: Fay Blvd Wickham Corridor Pineda Cswy & Extension SPRA
Hogg had the consolation of lifting the SPRA Pro Team award ahead of Edinburgh team-mates Paterson, Ally Kellock, Blair, Scott Murray and Borders' Chris Cusiter.
The SPRA is equal to the excess of the aggregate outstanding notional of the notes over 99.
Looking ahead, payments to the residual interest subordinated notes could be constrained by further occurrences of the SPRA, and an increasing average cost of liabilities as the relatively inexpensive senior notes continue to amortize.
The Single Ply Roofing Association (SPRA) announced a partnership deal with GGFi Limited for the introduction of GGFi SP Home Insurance Scheme, a tailor-made solution offerings SPRA members customers with comprehensive cover and peace of mind knowing that their property is adequately covered.
The new scheme is now available to domestic customers of SPRA members and their approved contractors.