Effective September 15, for a trial period lasting at least 12 months, minimum bidding requirements and maximum bidding limits will be suspended for auctions of Cash Management Bills (CMBs) which are non-fungible (i.e., do not share a common maturity date with a previously-issued 3-, 6- or 12-month treasury bill). All other provisions of the Terms of Participation will continue to apply to auctions of non-fungible CMBs.

For further information, please contact:

Ron Allenby
Assistant Director
Financial Markets Department
Bank of Canada
613 782-8046
Marc Larson
Principal Analyst
Financial Markets Department
Bank of Canada
613 782-7836