Government of Canada Bond Purchase Program

Learn about the program, access information about upcoming operations, results and reporting, and find key contacts and related notices.

Program details

The Bank purchases Government of Canada nominal and real bonds in the secondary market to support market functioning and provide monetary stimulus. The Government of Canada Bond Purchase Program (GBPP) was established to address strains in the Government of Canada bond market, and to enhance the effectiveness of other actions taken to support core funding markets. More recently, as market conditions improved, the focus of the GBPP has shifted to supporting the resumption of growth in output and employment.

As part of the regular management of its balance sheet, the Bank routinely conducts primary market purchases of Government of Canada bonds on a non-competitive basis at Government of Canada securities auctions.

Operational details

Operations are conducted every week as cash purchases via reverse auction. The Bank also intends to purchase RRBs in the secondary market once per quarter. Program size may be adjusted as conditions warrant.

Maturity sectors and dates for upcoming operations are announced every second Monday, one week ahead of time. The Bank will announce specific operational details (including size, timing and the basket of eligible securities) at least one day ahead of each operation.

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

Duration

The program will be adjusted as conditions warrant, and will continue until the economic recovery is well underway.

Operations

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Upcoming operations

Overview and details for the next operation will be provided at least one day ahead of each operation.

Overview

Reverse auction date Auction type Sector (Years) Deadline Settlement date Maximum total purchase amount
2021-01-18 Nominal 2 11:00 2021-01-20 1,750,000,000

Details

Reverse auction date Auction type Settlement date Coupon rate Maturity date ISIN Accrued interest start date Accrued interest end date Accrued interest rate (per $1000)
2021-01-18 Nominal 2021-01-20 0.250 2022-08-01 CA135087L286 2020-08-01 2021-01-20 1.17808219
2021-01-18 Nominal 2021-01-20 1.000 2022-09-01 CA135087G732 2020-09-01 2021-01-20 3.86301370
2021-01-18 Nominal 2021-01-20 0.250 2022-11-01 CA135087L369 2020-11-01 2021-01-20 0.54794521
2021-01-18 Nominal 2021-01-20 0.250 2023-02-01 CA135087L773 2020-10-26 2021-01-20 0.58904110
2021-01-18 Nominal 2021-01-20 1.750 2023-03-01 CA135087H490 2020-09-01 2021-01-20 6.76027397
2021-01-18 Nominal 2021-01-20 1.500 2023-06-01 CA135087A610 2020-12-01 2021-01-20 2.05479452
2021-01-18 Nominal 2021-01-20 8.000 2023-06-01 CA135087UT96 2020-12-01 2021-01-20 10.95890411
2021-01-18 Nominal 2021-01-20 2.000 2023-09-01 CA135087H987 2020-09-01 2021-01-20 7.72602740
2021-01-18 Nominal 2021-01-20 2.250 2024-03-01 CA135087J546 2020-09-01 2021-01-20 8.69178082
2021-01-18 Nominal 2021-01-20 0.250 2024-04-01 CA135087L690 2020-10-16 2021-01-20 0.65753425

Results

Shortly after each operation, the results overview and details will be announced.

Overview

Reverse auction date Auction type Sector (Years) Settlement date Total amount purchased
2021-01-15 Nominal 10 2021-01-19 900,000,000
2021-01-14 Nominal 5 2021-01-18 1,000,000,000
2021-01-13 Nominal 2 2021-01-15 1,750,000,000
2021-01-12 Nominal 30 2021-01-14 450,000,000
2021-01-08 Nominal 5 2021-01-12 1,000,000,000

Details

Reverse auction date Auction type Settlement date Coupon rate Maturity date ISIN Amount purchased ($M) Cutoff yield (%) Allotment ratio (%)
2021-01-15 Nominal 2021-01-19 1.000 2027-06-01 CA135087F825 0.000 - 0.00000
2021-01-15 Nominal 2021-01-19 8.000 2027-06-01 CA135087VW17 0.000 - 0.00000
2021-01-15 Nominal 2021-01-19 2.000 2028-06-01 CA135087H235 0.000 - 0.00000
2021-01-15 Nominal 2021-01-19 2.250 2029-06-01 CA135087J397 0.000 - 0.00000
2021-01-15 Nominal 2021-01-19 5.750 2029-06-01 CA135087WL43 0.000 - 0.00000
2021-01-15 Nominal 2021-01-19 1.250 2030-06-01 CA135087K379 72.131 0.815 72.13115
2021-01-15 Nominal 2021-01-19 0.500 2030-12-01 CA135087L443 224.262 0.872 72.13115
2021-01-15 Nominal 2021-01-19 5.750 2033-06-01 CA135087XG49 300.000 0.993 100.00000
2021-01-15 Nominal 2021-01-19 5.000 2037-06-01 CA135087XW98 303.607 1.108 72.13115
2021-01-14 Nominal 2021-01-18 2.500 2024-06-01 CA135087B451 0.000 - 0.00000
2021-01-14 Nominal 2021-01-18 1.500 2024-09-01 CA135087J967 39.042 0.323 50.07184
2021-01-14 Nominal 2021-01-18 1.250 2025-03-01 CA135087K528 29.542 0.375 50.07184
2021-01-14 Nominal 2021-01-18 2.250 2025-06-01 CA135087D507 3.000 0.374 100.00000
2021-01-14 Nominal 2021-01-18 9.000 2025-06-01 CA135087VH40 0.000 - 0.00000
2021-01-14 Nominal 2021-01-18 0.500 2025-09-01 CA135087K940 350.359 0.437 50.07184
2021-01-14 Nominal 2021-01-18 0.250 2026-03-01 CA135087L518 578.057 0.501 50.07184
2021-01-14 Nominal 2021-01-18 1.500 2026-06-01 CA135087E679 0.000 - 0.00000
2021-01-13 Nominal 2021-01-15 0.250 2022-08-01 CA135087L286 0.000 - 0.00000
2021-01-13 Nominal 2021-01-15 1.000 2022-09-01 CA135087G732 0.000 - 0.00000
2021-01-13 Nominal 2021-01-15 0.250 2022-11-01 CA135087L369 362.686 0.166 94.52736
2021-01-13 Nominal 2021-01-15 0.250 2023-02-01 CA135087L773 1,090.871 0.203 94.52736
2021-01-13 Nominal 2021-01-15 1.750 2023-03-01 CA135087H490 0.000 - 0.00000
2021-01-13 Nominal 2021-01-15 1.500 2023-06-01 CA135087A610 0.000 - 0.00000
2021-01-13 Nominal 2021-01-15 8.000 2023-06-01 CA135087UT96 0.000 - 0.00000
2021-01-13 Nominal 2021-01-15 2.000 2023-09-01 CA135087H987 121.443 0.222 94.52736
2021-01-13 Nominal 2021-01-15 2.250 2024-03-01 CA135087J546 0.000 - 0.00000
2021-01-13 Nominal 2021-01-15 0.250 2024-04-01 CA135087L690 175.000 0.287 100.00000
2021-01-12 Nominal 2021-01-14 5.000 2037-06-01 CA135087XW98 45.000 1.162 100.00000
2021-01-12 Nominal 2021-01-14 4.000 2041-06-01 CA135087YQ12 40.000 1.303 100.00000
2021-01-12 Nominal 2021-01-14 3.500 2045-12-01 CA135087ZS68 120.000 1.397 100.00000
2021-01-12 Nominal 2021-01-14 2.750 2048-12-01 CA135087D358 85.000 1.446 100.00000
2021-01-12 Nominal 2021-01-14 2.000 2051-12-01 CA135087H722 160.000 1.485 79.86111
2021-01-12 Nominal 2021-01-14 2.750 2064-12-01 CA135087C939 0.000 - 0.00000
2021-01-08 Nominal 2021-01-12 2.500 2024-06-01 CA135087B451 95.000 0.288 100.00000
2021-01-08 Nominal 2021-01-12 1.500 2024-09-01 CA135087J967 0.000 - 0.00000
2021-01-08 Nominal 2021-01-12 1.250 2025-03-01 CA135087K528 84.375 0.372 84.37500
2021-01-08 Nominal 2021-01-12 2.250 2025-06-01 CA135087D507 50.000 0.375 100.00000
2021-01-08 Nominal 2021-01-12 9.000 2025-06-01 CA135087VH40 0.000 - 0.00000
2021-01-08 Nominal 2021-01-12 0.500 2025-09-01 CA135087K940 238.593 0.430 84.37500
2021-01-08 Nominal 2021-01-12 0.250 2026-03-01 CA135087L518 532.032 0.494 84.37500
2021-01-08 Nominal 2021-01-12 1.500 2026-06-01 CA135087E679 0.000 - 0.00000

Reporting

The Bank’s aggregate holdings of Government of Canada bonds are updated every Friday on the Bank’s weekly balance sheet.

The Bank’s individual holdings of all Government of Canada securities and federal government guaranteed debt securities issued by federal Crown corporations are available at Bank of Canada Holdings.

Key contacts


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


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

Subscribe to Related notices
Related notices

December 18, 2020

Operational details for upcoming secondary market purchases of Government of Canada securities (January 4-15)

As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). The GBPP operations for the two-week period beginning January 4, 2021 are announced below.