The Government of Canada is considering moving to a modified auction format for any future issuance of 50-year bonds (ultra-long bonds). The Bank of Canada today published the draft Terms for Auctions of Government of Canada Ultra-long Bonds (proposal) for comment, as well as an overview of the draft proposal.

As indicated in Economic Action Plan 2015, the Government may issue additional 50-year bonds in 2015-16, subject to market conditions. Any future ultra-long bond issuance continues to be a tactical decision and is not considered to be part of the Government’s regular borrowing program. Consequently, any decision to issue ultra-long bonds will continue to be communicated to market participants outside of the Quarterly Bond Schedule during the course of the fiscal year.

Comments on the proposal can be emailed by 10 July 2015 to the Bank of Canada at . Comments received will be shared with the Department of Finance.

For further information, please contact:


Assistant Director
Funds Management and Banking Department
Bank of Canada
613 782-7913


Chief
Funds Management Division
Department of Finance
613 369-3898

Media:


Bank of Canada
613 782-8782