The targeted turnaround time for publication of the results for Government of Canada securities auctions will be reduced to 15 minutes from 30 minutes starting 22 May 2001. The reduction in the turnaround time is the result of process and efficiency improvements. Please note that the new auction turnaround time will not apply to repurchase operations.

This reduction in auction result turnaround time was outlined in the Debt Management Strategy 2001-2002. It is part of the continued effort to enhance the functioning of the market for Government of Canada securities.

For further information, contact:

Philippe Muller
Principal Researcher
Debt Management & Settlement Systems
Bank of Canada
613 782-8778
Terry Peppard
Auction Manager
Debt Management & Settlement Systems
Bank of Canada
613 782-8199