September 24, 2024
Bank of Canada launches Securities Lending Program as replacement to Securities Repo Operations
The Bank of Canada will launch its Securities Lending Program (SLP) on 2 October 2024.
Learn about the program, access information about operations and reporting, and find key contacts and related notices.
Program details
The Bank of Canada’s Securities Lending Program (SLP) provides a temporary source of Government of Canada nominal bonds and treasury bills to primary dealers to support liquidity in the securities financing market. The Bank makes a portion of its holdings of these securities available on an overnight basis through daily securities lending operations. The program is consistent with best practices at other central banks and with recommendations from the Bank for International Settlements regarding managing the impact of large-scale asset purchases on market functioning.
For operational details, see the full terms and conditions for this program.
Operations
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Upcoming operations
Details for the next operation—including maximum operation amount and minimum securities lending fee—will be provided in this table on the morning of the operation. Typically, the Bank of Canada will make up to 50 per cent of its holdings of eligible Government of Canada securities available to the market on a given day; however, the exact list and amounts of offered securities will be at the Bank’s discretion.
Overview
| Operation date | Maturity date | Operation amount ($M) | Minimum bid fee (bps) |
|---|
Results
Overview
Results will be updated in this table shortly after each operation.
| Operation date | Maturity date | Operation amount ($M) | Total allocated amount ($M) | Minimum bid fee (bps) |
|---|---|---|---|---|
| 2025-01-22 | 2025-01-23 | 50,000 | 4,128 | 15.0 |
| 2025-01-21 | 2025-01-22 | 50,000 | 3,979 | 15.0 |
| 2025-01-20 | 2025-01-21 | 50,000 | 3,821 | 15.0 |
| 2025-01-17 | 2025-01-20 | 50,000 | 4,418 | 15.0 |
| 2025-01-16 | 2025-01-17 | 50,000 | 4,133 | 15.0 |
Details
| Operation date | Maturity date | Coupon rate | Security maturity date | ISIN | Security type | Allocated amount ($M) | Low bid fee (bps) | Average bid fee (bps) | High bid fee (bps) |
|---|---|---|---|---|---|---|---|---|---|
| 2025-01-22 | 2025-01-23 | 1.250 | 2025-03-01 | CA135087K528 | Bond | 635 | 15.0 | 15.0 | 15.0 |
| 2025-01-22 | 2025-01-23 | 9.000 | 2025-06-01 | CA135087VH40 | Bond | 86 | 15.0 | 15.0 | 15.0 |
| 2025-01-22 | 2025-01-23 | 1.500 | 2026-06-01 | CA135087E679 | Bond | 341 | 15.0 | 15.0 | 15.0 |
| 2025-01-22 | 2025-01-23 | 1.000 | 2027-06-01 | CA135087F825 | Bond | 1,282 | 15.0 | 15.2 | 16.0 |
| 2025-01-22 | 2025-01-23 | 8.000 | 2027-06-01 | CA135087VW17 | Bond | 47 | 15.0 | 15.0 | 15.0 |
| 2025-01-22 | 2025-01-23 | 2.250 | 2029-06-01 | CA135087J397 | Bond | 880 | 15.0 | 15.3 | 16.0 |
| 2025-01-22 | 2025-01-23 | 5.000 | 2037-06-01 | CA135087XW98 | Bond | 857 | 15.0 | 15.0 | 15.0 |
| 2025-01-21 | 2025-01-22 | 1.250 | 2025-03-01 | CA135087K528 | Bond | 499 | 15.0 | 15.0 | 15.0 |
| 2025-01-21 | 2025-01-22 | 9.000 | 2025-06-01 | CA135087VH40 | Bond | 86 | 15.0 | 15.0 | 15.0 |
| 2025-01-21 | 2025-01-22 | 0.250 | 2026-03-01 | CA135087L518 | Bond | 65 | 15.0 | 15.0 | 15.0 |
| 2025-01-21 | 2025-01-22 | 1.500 | 2026-06-01 | CA135087E679 | Bond | 328 | 15.0 | 15.0 | 15.0 |
| 2025-01-21 | 2025-01-22 | 1.000 | 2027-06-01 | CA135087F825 | Bond | 1,381 | 15.0 | 15.0 | 15.0 |
| 2025-01-21 | 2025-01-22 | 8.000 | 2027-06-01 | CA135087VW17 | Bond | 47 | 15.0 | 15.0 | 15.0 |
| 2025-01-21 | 2025-01-22 | 2.250 | 2029-06-01 | CA135087J397 | Bond | 711 | 15.0 | 15.0 | 15.0 |
| 2025-01-21 | 2025-01-22 | 5.000 | 2037-06-01 | CA135087XW98 | Bond | 862 | 15.0 | 15.0 | 15.0 |
| 2025-01-20 | 2025-01-21 | 1.250 | 2025-03-01 | CA135087K528 | Bond | 434 | 15.0 | 15.0 | 15.0 |
| 2025-01-20 | 2025-01-21 | 9.000 | 2025-06-01 | CA135087VH40 | Bond | 86 | 15.0 | 15.0 | 15.0 |
| 2025-01-20 | 2025-01-21 | 1.500 | 2026-06-01 | CA135087E679 | Bond | 191 | 15.0 | 15.0 | 15.0 |
| 2025-01-20 | 2025-01-21 | 1.000 | 2026-09-01 | CA135087L930 | Bond | 3 | 15.0 | 15.0 | 15.0 |
| 2025-01-20 | 2025-01-21 | 1.250 | 2027-03-01 | CA135087M847 | Bond | 8 | 15.0 | 15.0 | 15.0 |
| 2025-01-20 | 2025-01-21 | 1.000 | 2027-06-01 | CA135087F825 | Bond | 1,318 | 15.0 | 15.0 | 15.0 |
| 2025-01-20 | 2025-01-21 | 8.000 | 2027-06-01 | CA135087VW17 | Bond | 47 | 15.0 | 15.0 | 15.0 |
| 2025-01-20 | 2025-01-21 | 2.250 | 2029-06-01 | CA135087J397 | Bond | 919 | 15.0 | 15.0 | 15.0 |
| 2025-01-20 | 2025-01-21 | 5.750 | 2029-06-01 | CA135087WL43 | Bond | 37 | 15.0 | 15.0 | 15.0 |
| 2025-01-20 | 2025-01-21 | 5.000 | 2037-06-01 | CA135087XW98 | Bond | 778 | 15.0 | 15.0 | 15.0 |
| 2025-01-17 | 2025-01-20 | 1.250 | 2025-03-01 | CA135087K528 | Bond | 630 | 15.0 | 15.0 | 15.0 |
| 2025-01-17 | 2025-01-20 | 9.000 | 2025-06-01 | CA135087VH40 | Bond | 85 | 15.0 | 15.0 | 15.0 |
| 2025-01-17 | 2025-01-20 | 1.500 | 2026-06-01 | CA135087E679 | Bond | 328 | 15.0 | 15.0 | 15.0 |
| 2025-01-17 | 2025-01-20 | 1.000 | 2027-06-01 | CA135087F825 | Bond | 1,730 | 15.0 | 15.0 | 15.0 |
| 2025-01-17 | 2025-01-20 | 8.000 | 2027-06-01 | CA135087VW17 | Bond | 46 | 15.0 | 15.0 | 15.0 |
| 2025-01-17 | 2025-01-20 | 2.250 | 2029-06-01 | CA135087J397 | Bond | 835 | 15.0 | 15.0 | 15.0 |
| 2025-01-17 | 2025-01-20 | 5.000 | 2037-06-01 | CA135087XW98 | Bond | 764 | 15.0 | 15.0 | 15.0 |
| 2025-01-16 | 2025-01-17 | 1.250 | 2025-03-01 | CA135087K528 | Bond | 746 | 15.0 | 15.0 | 15.0 |
| 2025-01-16 | 2025-01-17 | 9.000 | 2025-06-01 | CA135087VH40 | Bond | 86 | 15.0 | 15.0 | 15.0 |
| 2025-01-16 | 2025-01-17 | 1.500 | 2026-06-01 | CA135087E679 | Bond | 236 | 15.0 | 15.0 | 15.0 |
| 2025-01-16 | 2025-01-17 | 1.000 | 2027-06-01 | CA135087F825 | Bond | 1,248 | 15.0 | 15.0 | 15.0 |
| 2025-01-16 | 2025-01-17 | 8.000 | 2027-06-01 | CA135087VW17 | Bond | 25 | 15.0 | 15.0 | 15.0 |
| 2025-01-16 | 2025-01-17 | 2.000 | 2028-06-01 | CA135087H235 | Bond | 135 | 15.0 | 15.0 | 15.0 |
| 2025-01-16 | 2025-01-17 | 2.250 | 2029-06-01 | CA135087J397 | Bond | 1,037 | 15.0 | 15.0 | 15.0 |
| 2025-01-16 | 2025-01-17 | 5.000 | 2037-06-01 | CA135087XW98 | Bond | 620 | 15.0 | 15.0 | 15.0 |
| 2025-01-15 | 2025-01-16 | 1.250 | 2025-03-01 | CA135087K528 | Bond | 883 | 15.0 | 15.0 | 15.0 |
| 2025-01-15 | 2025-01-16 | 9.000 | 2025-06-01 | CA135087VH40 | Bond | 85 | 15.0 | 15.0 | 15.0 |
| 2025-01-15 | 2025-01-16 | 1.500 | 2026-06-01 | CA135087E679 | Bond | 333 | 15.0 | 15.0 | 15.0 |
| 2025-01-15 | 2025-01-16 | 1.000 | 2027-06-01 | CA135087F825 | Bond | 1,085 | 15.0 | 15.0 | 15.0 |
| 2025-01-15 | 2025-01-16 | 8.000 | 2027-06-01 | CA135087VW17 | Bond | 46 | 15.0 | 15.0 | 15.0 |
| 2025-01-15 | 2025-01-16 | 2.250 | 2029-06-01 | CA135087J397 | Bond | 480 | 15.0 | 15.0 | 15.0 |
| 2025-01-15 | 2025-01-16 | 5.000 | 2037-06-01 | CA135087XW98 | Bond | 680 | 15.0 | 15.0 | 15.0 |
| 2025-01-14 | 2025-01-15 | 1.250 | 2025-03-01 | CA135087K528 | Bond | 881 | 15.0 | 15.0 | 15.0 |
| 2025-01-14 | 2025-01-15 | 9.000 | 2025-06-01 | CA135087VH40 | Bond | 85 | 15.0 | 15.0 | 15.0 |
| 2025-01-14 | 2025-01-15 | 1.500 | 2026-06-01 | CA135087E679 | Bond | 244 | 15.0 | 15.0 | 15.0 |
| 2025-01-14 | 2025-01-15 | 1.000 | 2027-06-01 | CA135087F825 | Bond | 1,101 | 15.0 | 15.0 | 15.0 |
| 2025-01-14 | 2025-01-15 | 8.000 | 2027-06-01 | CA135087VW17 | Bond | 46 | 15.0 | 15.0 | 15.0 |
| 2025-01-14 | 2025-01-15 | 5.000 | 2037-06-01 | CA135087XW98 | Bond | 661 | 15.0 | 15.0 | 15.0 |
Reporting
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
Assistant Director
Financial Markets Department
Bank of Canada
Related notices
April 25, 2024
Bank of Canada plans to re-introduce its securities lending program
The Bank of Canada is planning to restart later this year its securities lending program (SLP) which is designed to support the liquidity of Government of Canada (GoC) securities markets.
Content Type(s):
Press,
Market notices
Source(s):
Securities Lending Program,
Securities Repo Operations