Pilot – Government of Canada Cash Management Bond Buyback Program

The Bank of Canada and the Department of Finance are announcing today a pilot for the Government of Canada Cash Management Bond Buyback program that will increase flexibility in the maximum repurchase amount at each operation. 

The pilot program will introduce a two-step Call for Tenders process, similar to that for the treasury bill program. The preliminary Call for Tenders will indicate an initial maximum amount that may be repurchased, with a final Call for Tenders that may increase the maximum amount. The maximum amount that may be repurchased will range between $500 million and $2 billion.

The operations will continue on a weekly basis, with each operation being conducted in the same manner.  The preliminary Call for Tenders will be communicated one week prior to the auction at 3:30pm (ET), with the Final Call for Tenders at 9:00am (ET) on the day of the operation. 

This pilot will commence with the operation to be held on 17 January 2017 and remain in place until further notice.

For further information, please contact:

Assistant Director
Funds Management and Banking Department
Bank of Canada
613 782-7913

Chief
Funds Management Division
Department of Finance
613 369-3898

Media:

Bank of Canada
613 782-8782