Following the release of the draft Terms for Auctions of Government of Canada Ultra-Long Bonds (proposal) by the Bank of Canada, a three-week consultation period, ending 10 July 2015, was held. Written comments on the proposal were received from a wide range of market participants and will be taken into consideration for any future issuance of ultra-long bonds.

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.

The Bank of Canada and the Department of Finance Canada thank all parties for the comments they provided during the consultation process.

For further information, please contact:


Chief
Funds Management Division
Department of Finance Canada
613 369-3898


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


Bank of Canada
613 782-8782