A consultation document on issues relating to the design and operation of government debt programs over 2001—2002, prepared jointly by the Department of Finance and the Bank of Canada, is being made public today.

As it does every year during the Fall, the government is seeking views from market participants on a number of issues, as part of its ongoing commitment to consultations with participants on domestic debt programs.

No major restructuring of bond programs is anticipated in the near term. The treasury bill program was restructured in 1997 in light of the decline in the outstanding treasury bill stock in the preceding years. Since then, the government has regularly sought views of market participants during its Fall consultations on whether further changes should be considered. The government is interested in views on whether changes to the treasury bill program would be beneficial as a means of maintaining and enhancing liquidity and investor interest in the program. A background note describing the context and possible alternatives is included.

Comments on the specific questions raised in the discussion paper are invited from interested parties. These comments must be received by 21 December 2000. Comments can be sent to:

For further information, contact:
Michael Keenan
Department of Finance
613 992-4013
Philippe Muller
Bank of Canada
613 782-8778