Operational details for the secondary market purchases of Government of Canada securities

As announced on March 27^th, 2020, the Bank of Canada (the Bank) is launching a program to purchase Government of Canada securities in the secondary market. NOTE: this program becomes effective April 1^st, 2020 and replaces all previously announced operations.

The Bank will conduct the following operations this week:

• A purchase operation on Wednesday, April 1^st in the 5-year sector.
• A purchase operation on Thursday, April 2^nd in the 10-year sector.
• A purchase operation on Friday, April 3^rd in the 2-year sector.

NOTE: the operations this week (from April 1^st to April 3^rd) will have a T+3 settlement.

The Bank will conduct the following operations next week:

• A purchase operation on Monday, April 6^th in the 30-year sector.
• A purchase operation on Tuesday, April 7^th in the short-end sector (less than 2-year sector).
• A purchase operation on Wednesday, April 8^th in the 2-year sector.
• A purchase operation on Thursday, April 9^th in the 5-year sector.

NOTE: the operations next week (from April 6^th to April 10^th) will revert back to conventional T+2 settlement.

Finally, the secondary market purchases conducted by the Bank should settle with the Bank (CUID: BOCB) and not the Government of Canada.

The Bank will announce specific operational details (size, timing and the basket of eligible securities) at least one day ahead of each operation.

The Bank continues to monitor market developments closely and remains committed to supporting the liquidity and efficient functioning of the Government of Canada bond market.

Scott Kinnear
Director
Financial Markets Department
Bank of Canada
613 782-7723

Mark de Guzman
Director
Financial Markets Department
Bank of Canada
613 782-7245

Media Relations
Bank of Canada
613 782-8782