The Bank of Canada and the Government of Canada (GoC) are announcing that adjustments to the GoC’s Debt Distribution Framework will come into effect on September 2, 2025.
The changes were first announced in a March market notice.
As part of these changes, the Standard Terms for Auctions of GoC Securities will be amended. For reference, the new Standard Terms have been published along with a simplified, one-page overview designed for a broad audience.
The new Standard Terms will come into effect on September 2, 2025. On that date, the existing Standard Terms will be removed from the Bank’s website.
A series of FAQs is also available to help market participants understand the upgrades to the Bank of Canada Auction System (BCAS). Note that government securities distributors must now submit an annual attestation that no customer bidding information has been shared between “dealer-bid only” and “customer-bid only” BCAS users before the release of auction results.
Details on the new facility for reopening off-the-run GoC nominal bonds are now available. This facility will be effective as of July 2, 2025.
For further information, please contact:
Director
Financial Markets Department
Bank of Canada
343‑573‑4846
Director
Funds Management Division
Department of Finance Canada
343‑549‑3651