Canada, Japan outline responses to G7 plan

Canada and Japan, the industrialised countries least affected by the current turmoil, on Tuesday announced their responses to the G7 plan.

The Bank of Canada announced five measures aimed at ensuring the country's banking system has adequate liquidity:

· an increase in the size of Wednesday's Term PRA, an open market operation, from $4 billion to $10 billion;

· a pledge to deal with direct participants in the Large Value Transfer System (LVTS) as well as with primary dealers for its Term PR