Bankers’ Acceptance Purchase Facility

Announcement: The Bankers’ Acceptance Purchase Facility (BAPF) is discontinued.

Program details

To support the continuous functioning of financial markets, the Bank of Canada purchases Bankers’ Acceptances (BAs) in the secondary market through the Bankers’ Acceptance Purchase Facility (BAPF). The BA market is one of Canada’s core funding markets and a key source of financing for small- and medium-size corporate borrowers.

Terms and conditions

Primary dealers who want to participate in the BAPF must contact the Bank and provide key contact information. On the day of the operation, dealers must submit their offers between 8:30 (ET) and 9:00 (ET).

For additional operational details, see the full terms and conditions for this program.

Duration

Announcement: BAPF operations will continue until October 26, 2020.

Reporting

The Bank reports its aggregate holdings of Bankers’ Acceptances acquired through the BAPF every Friday on the Bank’s weekly balance sheet. The first results of this program are reported on March 25, 2020.

The Bank will publish transaction-level data from this program, including the names of individual issuers purchased, on June 29, 2021. This is in line with the Bank’s commitment to be transparent while protecting commercially sensitive information and trade-specific detail that could impact the effectiveness of these programs, lead to market distortion or impact the fair market value of the Bank’s purchases while these programs are operational.

Operations

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Key contacts


Director
Financial Markets Department
Bank of Canada
613-782-7245


Director
Financial Markets Department
Bank of Canada
613-782-7723

Subscribe to Related notices
Related notices

March 23, 2021

Bank of Canada announces the discontinuation of market functioning programs introduced during COVID-19

As overall financial market conditions continue to improve in Canada, use of the Bank of Canada’s programs that were introduced in 2020 in response to the shock from COVID-19 to support the functioning of key Canadian financial markets, has declined significantly.