Implementation Date for the Revised Terms and Conditions Governing the Morning Auction of Receiver General Cash Balances

The Bank of Canada, on behalf of the Government of Canada, today announced the revised Terms and Conditions Governing the Morning Auction of Receiver General Cash Balances that will become effective 1 April 2014.

These Terms set forth procedures for the auctioning of Receiver General excess cash balances, which allow the government to earn a competitive market-driven rate of return on these balances.

The new Terms incorporate the Changes to the Terms and Conditions Governing the Morning Auction of Receiver General Cash Balances announced on 20 August 2013 on the Bank of Canada’s website.

For further information, please contact:

Principal Analyst
Funds Management and Banking Department
Bank of Canada
613 782-7913

Chief
Financial Markets Division
Department of Finance
613 992-6116

Media:

Bank of Canada
613 782-8782