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.

Announcement: The Government of Canada Bond Purchase Program (GBPP) is discontinued.

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.

Indemnity agreement

An indemnity agreement with the Government of Canada was entered into to address market fluctuations resulting from the Bank’s operations under this program.

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

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)

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
2022-04-21 Nominal 10 2022-04-25 300,000,000
2022-04-19 Nominal 5 2022-04-21 250,000,000
2022-04-14 Nominal 2 2022-04-19 600,000,000
2022-04-12 Nominal 30 2022-04-14 150,000,000
2022-04-07 Nominal 10 2022-04-11 300,000,000

Details

Reverse auction date Auction type Settlement date Coupon rate Maturity date ISIN Amount purchased ($M) Cutoff yield (%) Allotment ratio (%)
2022-04-21 Nominal 2022-04-25 2.000 2028-06-01 CA135087H235 0.000 - 0.00000
2022-04-21 Nominal 2022-04-25 2.250 2029-06-01 CA135087J397 0.000 - 0.00000
2022-04-21 Nominal 2022-04-25 5.750 2029-06-01 CA135087WL43 0.000 - 0.00000
2022-04-21 Nominal 2022-04-25 1.250 2030-06-01 CA135087K379 0.000 - 0.00000
2022-04-21 Nominal 2022-04-25 0.500 2030-12-01 CA135087L443 200.000 2.901 100.00000
2022-04-21 Nominal 2022-04-25 1.500 2031-06-01 CA135087M276 0.000 - 0.00000
2022-04-21 Nominal 2022-04-25 1.500 2031-12-01 CA135087N266 100.000 2.907 25.00000
2022-04-21 Nominal 2022-04-25 5.750 2033-06-01 CA135087XG49 0.000 - 0.00000
2022-04-21 Nominal 2022-04-25 5.000 2037-06-01 CA135087XW98 0.000 - 0.00000
2022-04-19 Nominal 2022-04-21 2.250 2025-06-01 CA135087D507 0.000 - 0.00000
2022-04-19 Nominal 2022-04-21 9.000 2025-06-01 CA135087VH40 0.000 - 0.00000
2022-04-19 Nominal 2022-04-21 0.500 2025-09-01 CA135087K940 0.000 - 0.00000
2022-04-19 Nominal 2022-04-21 0.250 2026-03-01 CA135087L518 0.000 - 0.00000
2022-04-19 Nominal 2022-04-21 1.500 2026-06-01 CA135087E679 0.000 - 0.00000
2022-04-19 Nominal 2022-04-21 1.000 2026-09-01 CA135087L930 0.000 - 0.00000
2022-04-19 Nominal 2022-04-21 1.250 2027-03-01 CA135087M847 250.000 2.697 100.00000
2022-04-19 Nominal 2022-04-21 1.000 2027-06-01 CA135087F825 0.000 - 0.00000
2022-04-19 Nominal 2022-04-21 8.000 2027-06-01 CA135087VW17 0.000 - 0.00000
2022-04-14 Nominal 2022-04-19 0.500 2023-11-01 CA135087M763 0.000 - 0.00000
2022-04-14 Nominal 2022-04-19 0.750 2024-02-01 CA135087M920 300.000 2.397 100.00000
2022-04-14 Nominal 2022-04-19 2.250 2024-03-01 CA135087J546 0.000 - 0.00000
2022-04-14 Nominal 2022-04-19 0.250 2024-04-01 CA135087L690 0.000 - 0.00000
2022-04-14 Nominal 2022-04-19 1.500 2024-05-01 CA135087N423 250.000 2.442 35.89744
2022-04-14 Nominal 2022-04-19 2.500 2024-06-01 CA135087B451 0.000 - 0.00000
2022-04-14 Nominal 2022-04-19 1.500 2024-09-01 CA135087J967 0.000 - 0.00000
2022-04-14 Nominal 2022-04-19 0.750 2024-10-01 CA135087M508 50.000 2.451 100.00000
2022-04-14 Nominal 2022-04-19 1.250 2025-03-01 CA135087K528 0.000 - 0.00000
2022-04-12 Nominal 2022-04-14 5.000 2037-06-01 CA135087XW98 20.000 2.700 100.00000
2022-04-12 Nominal 2022-04-14 4.000 2041-06-01 CA135087YQ12 27.692 2.685 76.92308
2022-04-12 Nominal 2022-04-14 3.500 2045-12-01 CA135087ZS68 5.000 2.653 100.00000
2022-04-12 Nominal 2022-04-14 2.750 2048-12-01 CA135087D358 0.000 - 0.00000
2022-04-12 Nominal 2022-04-14 2.000 2051-12-01 CA135087H722 60.385 2.602 76.92308
2022-04-12 Nominal 2022-04-14 1.750 2053-12-01 CA135087M680 0.000 - 0.00000
2022-04-12 Nominal 2022-04-14 2.750 2064-12-01 CA135087C939 36.923 2.666 76.92308
2022-04-07 Nominal 2022-04-11 2.000 2028-06-01 CA135087H235 0.000 - 0.00000
2022-04-07 Nominal 2022-04-11 2.250 2029-06-01 CA135087J397 0.000 - 0.00000
2022-04-07 Nominal 2022-04-11 5.750 2029-06-01 CA135087WL43 39.400 2.527 100.00000
2022-04-07 Nominal 2022-04-11 1.250 2030-06-01 CA135087K379 0.000 - 0.00000
2022-04-07 Nominal 2022-04-11 0.500 2030-12-01 CA135087L443 20.000 2.553 100.00000
2022-04-07 Nominal 2022-04-11 1.500 2031-06-01 CA135087M276 30.000 2.555 100.00000
2022-04-07 Nominal 2022-04-11 1.500 2031-12-01 CA135087N266 145.500 2.564 34.00000
2022-04-07 Nominal 2022-04-11 5.750 2033-06-01 CA135087XG49 25.000 2.605 100.00000
2022-04-07 Nominal 2022-04-11 5.000 2037-06-01 CA135087XW98 40.100 2.621 34.00000

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

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