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.

bulb
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 on a daily basis as cash purchases via reverse auction. The program targets a minimum of $5 billion per week across the yield curve. 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

bulb
Our Valet API is designed to help you integrate your applications and processes with our data. For details, please see our documentation.

Upcoming operations

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

Overview

Reverse auction date Settlement date Auction type Maximum total purchase amount
2020-08-04 2020-08-06 Nominal 1,000,000,000

Details

Reverse auction date Settlement date Maturity date Auction type Coupon rate ISIN Accrued interest start date Accrued interest end date Accrued interest rate (per $1000)
2020-08-04 2020-08-06 2020-11-01 Nominal 2.000 CA135087J470 2020-05-01 2020-08-06 5.31506849
2020-08-04 2020-08-06 2021-02-01 Nominal 2.250 CA135087J629 2020-08-01 2020-08-06 0.30821918
2020-08-04 2020-08-06 2021-03-01 Nominal 0.750 CA135087F254 2020-03-01 2020-08-06 3.24657534
2020-08-04 2020-08-06 2021-05-01 Nominal 1.750 CA135087J884 2020-05-01 2020-08-06 4.65068493
2020-08-04 2020-08-06 2021-06-01 Nominal 3.250 CA135087ZJ69 2020-06-01 2020-08-06 5.87671233
2020-08-04 2020-08-06 2021-08-01 Nominal 1.500 CA135087K296 2020-08-01 2020-08-06 0.20547945
2020-08-04 2020-08-06 2021-09-01 Nominal 0.750 CA135087F585 2020-03-01 2020-08-06 3.24657534
2020-08-04 2020-08-06 2021-11-01 Nominal 1.250 CA135087K452 2020-05-01 2020-08-06 3.32191781
2020-08-04 2020-08-06 2022-02-01 Nominal 1.500 CA135087K601 2020-08-01 2020-08-06 0.20547945
2020-08-04 2020-08-06 2022-03-01 Nominal 0.500 CA135087G328 2020-03-01 2020-08-06 2.16438356

Results

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

Overview

Reverse auction date Settlement date Auction type Total amount purchased
2020-07-31 2020-08-05 Nominal 800,000,000
2020-07-30 2020-08-04 Nominal 2,000,000,000
2020-07-29 2020-07-31 Nominal 500,000,000
2020-07-28 2020-07-30 Nominal 755,300,000
2020-07-27 2020-07-29 Nominal 1,000,000,000

Details

Reverse auction date Settlement date Maturity date Auction type ISIN Coupon rate Amount purchased ($M) Cutoff yield (%) Allotment ratio (%)
2020-07-31 2020-08-05 2027-06-01 Nominal CA135087F825 1.000 225.000 0.340 100.00000
2020-07-31 2020-08-05 2027-06-01 Nominal CA135087VW17 8.000 25.000 0.357 100.00000
2020-07-31 2020-08-05 2028-06-01 Nominal CA135087H235 2.000 54.536 0.377 45.36082
2020-07-31 2020-08-05 2029-06-01 Nominal CA135087J397 2.250 238.402 0.407 45.36082
2020-07-31 2020-08-05 2029-06-01 Nominal CA135087WL43 5.750 10.000 0.429 100.00000
2020-07-31 2020-08-05 2030-06-01 Nominal CA135087K379 1.250 247.062 0.463 45.36082
2020-07-31 2020-08-05 2033-06-01 Nominal CA135087XG49 5.750 0.000 - 0.00000
2020-07-31 2020-08-05 2037-06-01 Nominal CA135087XW98 5.000 0.000 - 0.00000
2020-07-30 2020-08-04 2022-03-01 Nominal CA135087G328 0.500 0.000 - 0.00000
2020-07-30 2020-08-04 2022-05-01 Nominal CA135087K866 1.500 173.396 0.241 56.22642
2020-07-30 2020-08-04 2022-06-01 Nominal CA135087ZU15 2.750 0.000 - 0.00000
2020-07-30 2020-08-04 2022-08-01 Nominal CA135087L286 0.250 1,252.642 0.263 56.22642
2020-07-30 2020-08-04 2022-09-01 Nominal CA135087G732 1.000 0.000 - 0.00000
2020-07-30 2020-08-04 2023-03-01 Nominal CA135087H490 1.750 0.000 - 0.00000
2020-07-30 2020-08-04 2023-06-01 Nominal CA135087A610 1.500 35.000 0.230 100.00000
2020-07-30 2020-08-04 2023-06-01 Nominal CA135087UT96 8.000 0.000 - 0.00000
2020-07-30 2020-08-04 2023-09-01 Nominal CA135087H987 2.000 538.962 0.268 56.22642
2020-07-29 2020-07-31 2037-06-01 Nominal CA135087XW98 5.000 50.000 0.737 100.00000
2020-07-29 2020-07-31 2041-06-01 Nominal CA135087YQ12 4.000 88.557 0.841 63.35878
2020-07-29 2020-07-31 2045-12-01 Nominal CA135087ZS68 3.500 102.176 0.909 63.35878
2020-07-29 2020-07-31 2048-12-01 Nominal CA135087D358 2.750 66.336 0.927 63.35878
2020-07-29 2020-07-31 2051-12-01 Nominal CA135087H722 2.000 192.931 0.947 63.35878
2020-07-28 2020-07-30 2020-09-01 Nominal CA135087E596 0.750 0.000 - 0.00000
2020-07-28 2020-07-30 2020-11-01 Nominal CA135087J470 2.000 0.000 - 0.00000
2020-07-28 2020-07-30 2021-02-01 Nominal CA135087J629 2.250 0.000 - 0.00000
2020-07-28 2020-07-30 2021-03-01 Nominal CA135087F254 0.750 100.000 0.202 100.00000
2020-07-28 2020-07-30 2021-05-01 Nominal CA135087J884 1.750 50.000 0.214 100.00000
2020-07-28 2020-07-30 2021-06-01 Nominal CA135087ZJ69 3.250 272.500 0.206 100.00000
2020-07-28 2020-07-30 2021-08-01 Nominal CA135087K296 1.500 200.000 0.214 100.00000
2020-07-28 2020-07-30 2021-09-01 Nominal CA135087F585 0.750 0.000 - 0.00000
2020-07-28 2020-07-30 2021-11-01 Nominal CA135087K452 1.250 54.800 0.215 100.00000
2020-07-28 2020-07-30 2022-02-01 Nominal CA135087K601 1.500 78.000 0.229 100.00000
2020-07-27 2020-07-29 2024-03-01 Nominal CA135087J546 2.250 0.000 - 0.00000
2020-07-27 2020-07-29 2024-06-01 Nominal CA135087B451 2.500 0.000 - 0.00000
2020-07-27 2020-07-29 2024-09-01 Nominal CA135087J967 1.500 340.000 0.295 100.00000
2020-07-27 2020-07-29 2025-03-01 Nominal CA135087K528 1.250 0.000 - 0.00000
2020-07-27 2020-07-29 2025-06-01 Nominal CA135087D507 2.250 0.000 - 0.00000
2020-07-27 2020-07-29 2025-06-01 Nominal CA135087VH40 9.000 0.000 - 0.00000
2020-07-27 2020-07-29 2025-09-01 Nominal CA135087K940 0.500 660.000 0.336 46.66667
2020-07-27 2020-07-29 2026-06-01 Nominal CA135087E679 1.500 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

Related notices