On July 21, 2000, the Bank of Canada announced that the Bank and the Department of Finance would be seeking the views of market participants on the feasibility of implementing a cash management buyback program and on the possibility of reverting back to March and September maturity dates for two-year bonds.
The Debt Management Strategy 2000-01 (released 23 March 2000) noted that the Bank of Canada and the Department of Finance were assessing the potential for expanding the existing bond buyback program to include cash management purposes.
A discussion paper prepared jointly by the Department of Finance and the Bank of Canada, and being made public today, is proposing changes to the government’s approach to auctioning and investing its Canadian dollar cash balances.