Market notices

Starting in 1996, the Bank of Canada began adjusting the relative amounts of Government of Canada treasury bills and bonds held on its balance sheet to more closely approximate the proportions of outstanding government debt.

Effective September 15, for a trial period lasting at least 12 months, minimum bidding requirements and maximum bidding limits will be suspended for auctions of Cash Management Bills (CMBs) which are non-fungible (i.e., do not share a common maturity date with a previously-issued 3-, 6- or 12-month treasury bill). All other provisions of the Terms of Participation will continue to apply to auctions of non-fungible CMBs.

Work on the Bank's Exterior Glazing System Remediation Project has recently begun. This project will involve replacing all the exterior windows and fixtures of the Head Office Towers.

In January 2004, officials from the Department of Finance and the Bank of Canada consulted with market participants on issues related to the government's domestic debt program. To allow for comments from a broader range of participants, the Debt Strategy 2004/05 Consultation Document had been made available in December 2003.

In September and October 2003, officials from the Department of Finance and the Bank of Canada consulted with market participants on issues specific to the Real Return Bond (RRB) program.

A consultation document on issues relating to the design and operation of the government's domestic debt programs for fiscal year 2004/05 and beyond, prepared jointly by the Department of Finance and the Bank of Canada, is being made public today.

The Bank of Canada announced that, effective 1 November 2003, it will no longer backdate the results of payments settling through the Automated Clearing Settlement System (ACSS), an accounting practice that has been in place since July 1986.

During the current power difficulties, the Bank of Canada in Ottawa has been operating from its back-up facility to provide essential services, such as monitoring financial markets and the critical clearing and settlement systems.

A consultation document on issues relating to the design and operation of the Real Return Bond program, prepared jointly by the Department of Finance and the Bank of Canada, is being published today.

In its Debt Management Strategy 2003/04, the government announced that the auction time for treasury bills would be moved to 10:30 a.m., on a trial basis, starting 22 April 2003.