January 24, 2022
Learn about the program, access information about upcoming operations, results and reporting, and find key contacts and related notices.
Announcement: The Government of Canada Bond Purchase Program (GBPP) is discontinued.
Program details
The Bank purchases Government of Canada nominal and real bonds in the secondary market to support market functioning and provide monetary stimulus. The Government of Canada Bond Purchase Program (GBPP) was established to address strains in the Government of Canada bond market, and to enhance the effectiveness of other actions taken to support core funding markets. More recently, as market conditions improved, the focus of the GBPP has shifted to supporting the resumption of growth in output and employment.
As part of the regular management of its balance sheet, the Bank routinely conducts primary market purchases of Government of Canada bonds on a non-competitive basis at Government of Canada securities auctions.
Operational details
Operations are conducted every week as cash purchases via reverse auction. The Bank also intends to purchase RRBs in the secondary market once per quarter. Program size may be adjusted as conditions warrant.
Maturity sectors and dates for upcoming operations are announced every second Monday, one week ahead of time. The Bank will announce specific operational details (including size, timing and the basket of eligible securities) at least one day ahead of each operation.
For additional operational details, see the full terms and conditions for this program.
Duration
The program will be adjusted as conditions warrant, and will continue until the economic recovery is well underway.
Indemnity agreement
An indemnity agreement with the Government of Canada was entered into to address market fluctuations resulting from the Bank’s operations under this program.
Operations
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Overview
| Reverse auction date | Auction type | Sector (Years) | Deadline | Settlement date | Maximum total purchase amount |
|---|
Details
| Reverse auction date | Auction type | Settlement date | Coupon rate | Maturity date | ISIN | Accrued interest start date | Accrued interest end date | Accrued interest rate (per $1000) |
|---|
Overview
| Reverse auction date | Auction type | Sector (Years) | Settlement date | Total amount purchased |
|---|---|---|---|---|
| 2022-04-21 | Nominal | 10 | 2022-04-25 | 300,000,000 |
| 2022-04-19 | Nominal | 5 | 2022-04-21 | 250,000,000 |
| 2022-04-14 | Nominal | 2 | 2022-04-19 | 600,000,000 |
| 2022-04-12 | Nominal | 30 | 2022-04-14 | 150,000,000 |
| 2022-04-07 | Nominal | 10 | 2022-04-11 | 300,000,000 |
Details
| Reverse auction date | Auction type | Settlement date | Coupon rate | Maturity date | ISIN | Amount purchased ($M) | Cutoff yield (%) | Allotment ratio (%) |
|---|---|---|---|---|---|---|---|---|
| 2022-04-21 | Nominal | 2022-04-25 | 2.000 | 2028-06-01 | CA135087H235 | 0.000 | - | 0.00000 |
| 2022-04-21 | Nominal | 2022-04-25 | 2.250 | 2029-06-01 | CA135087J397 | 0.000 | - | 0.00000 |
| 2022-04-21 | Nominal | 2022-04-25 | 5.750 | 2029-06-01 | CA135087WL43 | 0.000 | - | 0.00000 |
| 2022-04-21 | Nominal | 2022-04-25 | 1.250 | 2030-06-01 | CA135087K379 | 0.000 | - | 0.00000 |
| 2022-04-21 | Nominal | 2022-04-25 | 0.500 | 2030-12-01 | CA135087L443 | 200.000 | 2.901 | 100.00000 |
| 2022-04-21 | Nominal | 2022-04-25 | 1.500 | 2031-06-01 | CA135087M276 | 0.000 | - | 0.00000 |
| 2022-04-21 | Nominal | 2022-04-25 | 1.500 | 2031-12-01 | CA135087N266 | 100.000 | 2.907 | 25.00000 |
| 2022-04-21 | Nominal | 2022-04-25 | 5.750 | 2033-06-01 | CA135087XG49 | 0.000 | - | 0.00000 |
| 2022-04-21 | Nominal | 2022-04-25 | 5.000 | 2037-06-01 | CA135087XW98 | 0.000 | - | 0.00000 |
| 2022-04-19 | Nominal | 2022-04-21 | 2.250 | 2025-06-01 | CA135087D507 | 0.000 | - | 0.00000 |
| 2022-04-19 | Nominal | 2022-04-21 | 9.000 | 2025-06-01 | CA135087VH40 | 0.000 | - | 0.00000 |
| 2022-04-19 | Nominal | 2022-04-21 | 0.500 | 2025-09-01 | CA135087K940 | 0.000 | - | 0.00000 |
| 2022-04-19 | Nominal | 2022-04-21 | 0.250 | 2026-03-01 | CA135087L518 | 0.000 | - | 0.00000 |
| 2022-04-19 | Nominal | 2022-04-21 | 1.500 | 2026-06-01 | CA135087E679 | 0.000 | - | 0.00000 |
| 2022-04-19 | Nominal | 2022-04-21 | 1.000 | 2026-09-01 | CA135087L930 | 0.000 | - | 0.00000 |
| 2022-04-19 | Nominal | 2022-04-21 | 1.250 | 2027-03-01 | CA135087M847 | 250.000 | 2.697 | 100.00000 |
| 2022-04-19 | Nominal | 2022-04-21 | 1.000 | 2027-06-01 | CA135087F825 | 0.000 | - | 0.00000 |
| 2022-04-19 | Nominal | 2022-04-21 | 8.000 | 2027-06-01 | CA135087VW17 | 0.000 | - | 0.00000 |
| 2022-04-14 | Nominal | 2022-04-19 | 0.500 | 2023-11-01 | CA135087M763 | 0.000 | - | 0.00000 |
| 2022-04-14 | Nominal | 2022-04-19 | 0.750 | 2024-02-01 | CA135087M920 | 300.000 | 2.397 | 100.00000 |
| 2022-04-14 | Nominal | 2022-04-19 | 2.250 | 2024-03-01 | CA135087J546 | 0.000 | - | 0.00000 |
| 2022-04-14 | Nominal | 2022-04-19 | 0.250 | 2024-04-01 | CA135087L690 | 0.000 | - | 0.00000 |
| 2022-04-14 | Nominal | 2022-04-19 | 1.500 | 2024-05-01 | CA135087N423 | 250.000 | 2.442 | 35.89744 |
| 2022-04-14 | Nominal | 2022-04-19 | 2.500 | 2024-06-01 | CA135087B451 | 0.000 | - | 0.00000 |
| 2022-04-14 | Nominal | 2022-04-19 | 1.500 | 2024-09-01 | CA135087J967 | 0.000 | - | 0.00000 |
| 2022-04-14 | Nominal | 2022-04-19 | 0.750 | 2024-10-01 | CA135087M508 | 50.000 | 2.451 | 100.00000 |
| 2022-04-14 | Nominal | 2022-04-19 | 1.250 | 2025-03-01 | CA135087K528 | 0.000 | - | 0.00000 |
| 2022-04-12 | Nominal | 2022-04-14 | 5.000 | 2037-06-01 | CA135087XW98 | 20.000 | 2.700 | 100.00000 |
| 2022-04-12 | Nominal | 2022-04-14 | 4.000 | 2041-06-01 | CA135087YQ12 | 27.692 | 2.685 | 76.92308 |
| 2022-04-12 | Nominal | 2022-04-14 | 3.500 | 2045-12-01 | CA135087ZS68 | 5.000 | 2.653 | 100.00000 |
| 2022-04-12 | Nominal | 2022-04-14 | 2.750 | 2048-12-01 | CA135087D358 | 0.000 | - | 0.00000 |
| 2022-04-12 | Nominal | 2022-04-14 | 2.000 | 2051-12-01 | CA135087H722 | 60.385 | 2.602 | 76.92308 |
| 2022-04-12 | Nominal | 2022-04-14 | 1.750 | 2053-12-01 | CA135087M680 | 0.000 | - | 0.00000 |
| 2022-04-12 | Nominal | 2022-04-14 | 2.750 | 2064-12-01 | CA135087C939 | 36.923 | 2.666 | 76.92308 |
| 2022-04-07 | Nominal | 2022-04-11 | 2.000 | 2028-06-01 | CA135087H235 | 0.000 | - | 0.00000 |
| 2022-04-07 | Nominal | 2022-04-11 | 2.250 | 2029-06-01 | CA135087J397 | 0.000 | - | 0.00000 |
| 2022-04-07 | Nominal | 2022-04-11 | 5.750 | 2029-06-01 | CA135087WL43 | 39.400 | 2.527 | 100.00000 |
| 2022-04-07 | Nominal | 2022-04-11 | 1.250 | 2030-06-01 | CA135087K379 | 0.000 | - | 0.00000 |
| 2022-04-07 | Nominal | 2022-04-11 | 0.500 | 2030-12-01 | CA135087L443 | 20.000 | 2.553 | 100.00000 |
| 2022-04-07 | Nominal | 2022-04-11 | 1.500 | 2031-06-01 | CA135087M276 | 30.000 | 2.555 | 100.00000 |
| 2022-04-07 | Nominal | 2022-04-11 | 1.500 | 2031-12-01 | CA135087N266 | 145.500 | 2.564 | 34.00000 |
| 2022-04-07 | Nominal | 2022-04-11 | 5.750 | 2033-06-01 | CA135087XG49 | 25.000 | 2.605 | 100.00000 |
| 2022-04-07 | Nominal | 2022-04-11 | 5.000 | 2037-06-01 | CA135087XW98 | 40.100 | 2.621 | 34.00000 |
Reporting
The Bank’s aggregate holdings of Government of Canada bonds are updated every Friday on the Bank’s weekly balance sheet.
The Bank’s individual holdings of all Government of Canada securities and federal government guaranteed debt securities issued by federal Crown corporations are available at Bank of Canada Holdings.
Key contacts
Director
Financial Markets Department
Bank of Canada
613‑782‑7723
Director
Financial Markets Department
Bank of Canada
613‑782‑7245
Related notices
January 10, 2022
As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).
Operational details for upcoming secondary market purchases of Government of Canada securities (January 17-28)
Content Type(s):
Press,
Market notices
Source(s):
Government of Canada Bond Purchase Program
December 22, 2021
As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).
Operational details for upcoming secondary market purchases of Government of Canada securities (January 3-14)
Content Type(s):
Press,
Market notices
Source(s):
Government of Canada Bond Purchase Program