Market notices

The Bank of Canada will launch its Securities Lending Program (SLP) on 2 October 2024.

A consultation document pertaining to the design of the Government of Canada debt distribution framework, prepared jointly by the Department of Finance and the Bank of Canada, is being made public today.

The Department of Finance and the Bank of Canada are seeking the views of government securities distributors, institutional investors, and other interested parties on issues related to the design and operation of the Government of Canada’s domestic debt program for 2025-26 and beyond.

The Canadian Foreign Exchange Committee (CFEC) released today the results of its April 2024 semi-annual survey of foreign exchange volumes in Canada.

Effective Monday, July 15, 2024, dealer limits for Overnight Repo (OR) operations will increase to $3 billion for each eligible participant from the previous $1 billion.

Canadian money markets are undergoing a significant change due to the disappearance of Bankers Acceptances (BAs). BAs will no longer be issued by the major Canadian banks after the cessation of the Canadian Dollar Offered Rate’s (CDOR) publication on June 28, 2024.

The Bank of Canada is announcing the addition of Secured General Collateral Notes (SGC Notes) as eligible collateral under its Standing Liquidity Facility (SLF), with the intent to support the development of this new market.

The Canadian Alternative Reference Rate working group (CARR) is providing guidance to market participants with respect to CDOR-linked loans, derivatives and securities that do not have adequate fallback language to address the cessation of CDOR following the final publication by Refinitiv Benchmark Services (UK) Limited on June 28, 2024 (the “Cessation Date”).

As of 3 June 2024, all Government of Canada auctions of its treasury bills, bonds and Cash Management Bond Buybacks (CMBB) will be subject to T+1 settlement. This move will follow the Canadian secondary market’s own transition to T+1 settlement, expected to occur on Monday, 27 May 2024.

CARR is publishing two presentations to clarify how CARR’s recommended fallback rate for floating rate notes that reference CDOR should be implemented for calculating the coupon and accrued interest post June 2024.