Canada's financial system consists of financial institutions, financial markets, and clearing and settlement systems. It is a key part of the infrastructure of our economy.
As announced in the 2003 Budget, the Government will gradually reduce the fixed-rate portion of the debt from two-thirds to 60 per cent. The reduction will begin in the upcoming fiscal year and will be implemented in an orderly and transparent manner over the next five years to maintain a well-functioning Government of Canada securities market.