Bank of Canada announces changes to the amount of Government of Canada Treasury Bills acquired at auction

The Bank’s short-term liquidity programs announced since March to improve market functioning are having their intended effect. Conditions in short-term funding markets have improved. In particular, strains in the Government of Canada Treasury Bill market have diminished significantly. Given these improvements, the Bank is reducing its current pace of acquisition of these securities.

Effective July 27, 2020, the Bank will reduce the amount it purchases at auction from 40 percent to 20 percent of tendered amounts, which is in line with average levels prior to the onset of the COVID-19 pandemic. The Bank may adjust its purchase percentage if market conditions warrant.

The Bank of Canada continues to closely monitor global and domestic market developments and remains committed to providing liquidity as required to support the functioning of the Canadian financial system.


Director
Financial Markets Department
613-782-7723


Director
Financial Markets Department
613-782-7245


613-782-8782

Content Type(s): Press, Market notices