Bank of Canada announces changes to securities repo operations

In line with its objectives to support core funding markets and to foster the well-functioning of the Government of Canada securities market, the Bank of Canada is announcing changes to securities repo operations (SROs).

The maximum total bidding amount across all securities in the SRO will increase to $2,000 million for each eligible participant effective Monday, March 15, 2021. The maximum bid rate will remain at 15bps. The Bank may further adjust the size of the SROs in line with its intention at the start of the program in July 2020 to improve the availability of its holdings of Government of Canada securities. The terms and conditions of the SRO provide operational details. 

The SROs provide a temporary source of Government of Canada nominal bonds and treasury bills to primary dealers and the increase in size announced today will help support liquidity in the securities financing market. The Bank, at its discretion, may adjust the sizing, pricing and other parameters of the program to achieve its objectives.

The Bank continuously monitors market conditions and remains committed to providing the required support for the well-functioning of the Canadian securities financing market.

Financial Markets Department

Financial Markets Operations and Policy Advisor
Financial Markets Department

Financial Markets Department

Media Relations
Bank of Canada

Content Type(s): Press, Market notices