CANADA SETS NEW STANDBY CREDIT FACILITY
Finance Minister Michael Wilson announced
amendments to Canada's revolving standby credit facility with a
group of Canadian banks to provide more favorable terms
including a reduced commitment fee and lower-cost borrowing
options.
    The size of the facility has also been reduced to three
billion dlrs U.S. from 3.5 billion dlrs U.S. The maturity
debate of the new agreement will be June 19, 1992.
    The move follows similar amendments last November to
Canada's revolving standby credit facility with international
banks. The amendments provide a total of seven billion dlrs
U.S. in standby credit.
 Reuter
