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Operational details for the Corporate Bond Purchase Program

As announced on April 15, 2020, the Bank of Canada is launching its Corporate Bond Purchase Program (CBPP), effective May 26, 2020. The CBPP will support the liquidity and proper functioning of the corporate debt market, by purchasing bonds in the secondary market through a tender offer process.

Additional operational details on the CBPP including the term sheet are available on a dedicated webpage. All information on this program, including program size, duration, pricing, reporting, eligibility of assets and a list of eligible issuers is available on the CBPP webpage.

The Bank’s purchases of corporate bonds will aim to reflect a reference portfolio based on sectoral shares of eligible bonds outstanding. Actual holdings will depend on market conditions and what bonds are offered to the Bank.

The Bank of Canada continues to closely monitor global and domestic market developments and remains committed to providing all the liquidity the financial system needs so that it can continue to serve Canadians.

Managing Director
Head of Fixed Income
TD Asset Management

Financial Markets Department
Bank of Canada

Bank of Canada