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 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

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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 Settlement date Auction type Maximum total purchase amount
2020-10-23 2020-10-27 Nominal 400,000,000

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)
2020-10-23 2020-10-27 2037-06-01 Nominal 5.000 CA135087XW98 2020-06-01 2020-10-27 20.27397260
2020-10-23 2020-10-27 2041-06-01 Nominal 4.000 CA135087YQ12 2020-06-01 2020-10-27 16.21917808
2020-10-23 2020-10-27 2045-12-01 Nominal 3.500 CA135087ZS68 2020-06-01 2020-10-27 14.19178082
2020-10-23 2020-10-27 2048-12-01 Nominal 2.750 CA135087D358 2020-06-01 2020-10-27 11.15068493
2020-10-23 2020-10-27 2051-12-01 Nominal 2.000 CA135087H722 2020-06-01 2020-10-27 8.10958904

Results

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

Overview

Reverse auction date Settlement date Auction type Total amount purchased
2020-10-22 2020-10-26 Nominal 2,200,000,000
2020-10-21 2020-10-23 Nominal 1,200,000,000
2020-10-20 2020-10-22 Nominal 463,000,000
2020-10-19 2020-10-21 Nominal 800,000,000
2020-10-16 2020-10-20 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 (%)
2020-10-22 2020-10-26 2022-08-01 Nominal CA135087L286 0.250 0.000 - 0.00000
2020-10-22 2020-10-26 2022-09-01 Nominal CA135087G732 1.000 0.000 - 0.00000
2020-10-22 2020-10-26 2022-11-01 Nominal CA135087L369 0.250 1,594.000 0.232 63.19475
2020-10-22 2020-10-26 2023-03-01 Nominal CA135087H490 1.750 50.000 0.211 100.00000
2020-10-22 2020-10-26 2023-06-01 Nominal CA135087A610 1.500 0.000 - 0.00000
2020-10-22 2020-10-26 2023-06-01 Nominal CA135087UT96 8.000 87.000 0.206 100.00000
2020-10-22 2020-10-26 2023-09-01 Nominal CA135087H987 2.000 125.000 0.247 100.00000
2020-10-22 2020-10-26 2024-03-01 Nominal CA135087J546 2.250 25.000 0.262 100.00000
2020-10-22 2020-10-26 2024-04-01 Nominal CA135087L690 0.250 319.000 0.302 100.00000
2020-10-21 2020-10-23 2024-06-01 Nominal CA135087B451 2.500 20.000 0.264 100.00000
2020-10-21 2020-10-23 2024-09-01 Nominal CA135087J967 1.500 96.533 0.294 93.06667
2020-10-21 2020-10-23 2025-03-01 Nominal CA135087K528 1.250 0.000 - 0.00000
2020-10-21 2020-10-23 2025-06-01 Nominal CA135087D507 2.250 0.000 - 0.00000
2020-10-21 2020-10-23 2025-06-01 Nominal CA135087VH40 9.000 51.000 0.314 100.00000
2020-10-21 2020-10-23 2025-09-01 Nominal CA135087K940 0.500 784.200 0.364 93.06667
2020-10-21 2020-10-23 2026-06-01 Nominal CA135087E679 1.500 248.267 0.358 93.06667
2020-10-20 2020-10-22 2021-02-01 Nominal CA135087J629 2.250 0.000 - 0.00000
2020-10-20 2020-10-22 2021-03-01 Nominal CA135087F254 0.750 65.000 0.105 100.00000
2020-10-20 2020-10-22 2021-05-01 Nominal CA135087J884 1.750 0.000 - 0.00000
2020-10-20 2020-10-22 2021-06-01 Nominal CA135087ZJ69 3.250 0.000 - 0.00000
2020-10-20 2020-10-22 2021-08-01 Nominal CA135087K296 1.500 15.000 0.130 100.00000
2020-10-20 2020-10-22 2021-09-01 Nominal CA135087F585 0.750 85.000 0.133 100.00000
2020-10-20 2020-10-22 2021-11-01 Nominal CA135087K452 1.250 270.000 0.140 100.00000
2020-10-20 2020-10-22 2022-02-01 Nominal CA135087K601 1.500 0.000 - 0.00000
2020-10-20 2020-10-22 2022-03-01 Nominal CA135087G328 0.500 0.000 - 0.00000
2020-10-20 2020-10-22 2022-05-01 Nominal CA135087K866 1.500 28.000 0.170 100.00000
2020-10-19 2020-10-21 2027-06-01 Nominal CA135087F825 1.000 333.000 0.391 52.00000
2020-10-19 2020-10-21 2027-06-01 Nominal CA135087VW17 8.000 0.000 - 0.00000
2020-10-19 2020-10-21 2028-06-01 Nominal CA135087H235 2.000 25.000 0.453 100.00000
2020-10-19 2020-10-21 2029-06-01 Nominal CA135087J397 2.250 50.000 0.505 100.00000
2020-10-19 2020-10-21 2029-06-01 Nominal CA135087WL43 5.750 0.000 - 0.00000
2020-10-19 2020-10-21 2030-06-01 Nominal CA135087K379 1.250 325.000 0.591 100.00000
2020-10-19 2020-10-21 2033-06-01 Nominal CA135087XG49 5.750 47.000 0.722 100.00000
2020-10-19 2020-10-21 2037-06-01 Nominal CA135087XW98 5.000 20.000 0.863 100.00000
2020-10-16 2020-10-20 2024-03-01 Nominal CA135087J546 2.250 70.000 0.249 100.00000
2020-10-16 2020-10-20 2024-06-01 Nominal CA135087B451 2.500 150.000 0.248 100.00000
2020-10-16 2020-10-20 2024-09-01 Nominal CA135087J967 1.500 0.000 - 0.00000
2020-10-16 2020-10-20 2025-03-01 Nominal CA135087K528 1.250 0.000 - 0.00000
2020-10-16 2020-10-20 2025-06-01 Nominal CA135087D507 2.250 91.000 0.281 100.00000
2020-10-16 2020-10-20 2025-06-01 Nominal CA135087VH40 9.000 26.000 0.288 100.00000
2020-10-16 2020-10-20 2025-09-01 Nominal CA135087K940 0.500 256.333 0.341 54.22222
2020-10-16 2020-10-20 2026-06-01 Nominal CA135087E679 1.500 406.667 0.329 54.22222

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

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