Capital markets activities: Gross new issues, retirements and net new issues of securities (formerly F4 to F10)

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Typically published on the last Friday of the month.

Monthly Series

Canada and abroad

Monthly, Millions of dollars (par value)CANSIM2020‑052020‑062020‑072020‑082020‑09
Gross new issues
Government of Canada direct and guaranteed bondsV11190065227,40028,50030,00046,00024,300
Retirements
Government of Canada direct and guaranteed bondsV1119006608,1779,57479,21820,458
Net new issues
Government of Canada Treasury Bills and Canada Bills issued in U.S. dollarsV11190066886,01639,571-6,228-51,953-18,233
Government of Canada direct and guaranteed bondsV11190066919,22318,92629,99336,7833,842
Total commercial paperV111900672-2,6041,632-857-919
Canadian dollar bankers' acceptancesV111900673-11,289-2,61439-3,035
Term securitizations: National Housing Act (NHA) mortgage-backed securitiesV1119006741,4494,192-6,451-6,178
Term securitizations: Other asset-backed securitiesV111900675-892-1,628-1,140-256
Corporate bonds
Non-financialV11511528214,4774,32162-2514,921
Preferred stocks
Non-financialV115115284-1,46700-1870
Common stocks
Non-financialV115115286935 R1,701 R817 R-1,210 R3,970
Trust units
Non-financialV115115288022869173153

Canada

Monthly, Millions of dollars (par value)CANSIM2020‑052020‑062020‑072020‑082020‑09
Gross new issues
Total Treasury BillsV111900681127,00068,00057,00040,00040,000
91-day Treasury BillsV11190068274,60039,20032,20022,40022,400
Government of Canada direct and guaranteed bondsV11190068327,40028,50030,00046,00024,300
Retirements
Total Treasury BillsV11190069142,60028,90064,10091,30059,000
91-day Treasury BillsV11190069232,90021,30055,40080,60045,200
Government of Canada direct and guaranteed bondsV1119006938,0029,44179,21820,062
Net new issues
Government of Canada Treasury Bills and Canada Bills issued in U.S. dollarsV11190070184,40039,100-7,100-51,300-19,000
Government of Canada direct and guaranteed bondsV11190070219,39819,05929,99336,7834,238
Of which: Retail debtV111900705-5-8-7-9-9
Of which: Canada Savings BondsV1206102590-50-5-5
Total commercial paperV111900711-2,6041,632-857-919
Canadian dollar bankers' acceptancesV111900712-11,289-2,61439-3,035
Term securitizations: National Housing Act (NHA) mortgage-backed securitiesV1119007131,4494,192-6,451-6,178
Term securitizations: Other asset-backed securitiesV111900714-892-1,628-1,140-256
Corporate bonds
Non-financialV1151152906,893588-7973662,022
Preferred stocks
Non-financialV115115292000-1870
Common stocks
Non-financialV1151152941,224 R1,956 R800 R-1,260 R3,184
Trust units
Non-financialV115115296022869173153

Abroad

Monthly, Millions of dollars (par value)CANSIM2020‑052020‑062020‑072020‑082020‑09
Gross new issues
Government of Canada direct and guaranteed bondsV11190072000000
Retirements
Government of Canada direct and guaranteed bondsV11190072817513400396
Net new issues
Government of Canada direct and guaranteed bondsV111900736-175-13400-396
Corporate bonds
Non-financialV1151152987,5843,732860-6162,899
Preferred stocks
Non-financialV115115300-1,4670000
Common stocks
Non-financialV115115302-290-2551750786
Trust units
Non-financialV11511530400000

United States

Monthly, Millions of dollars (par value)CANSIM2020‑052020‑062020‑072020‑082020‑09
Net new issues
Government of Canada direct and guaranteed bondsV1119007450-13400-396

Other countries

Monthly, Millions of dollars (par value)CANSIM2020‑052020‑062020‑072020‑082020‑09
Net new issues
Government of Canada direct and guaranteed bondsV111900752-1750000

Notes

Source: Bank of Canada, Statistics Canada, Dominion Bond Rating Service, Canada Mortgage and Housing Corporation, Computershare Trust Company of Canada

Government of Canada direct and guaranteed bonds excludes Treasury Bills and Canada Bills issued in U.S. dollars. Prior to December 31, 1971, Government of Canada issues payable in foreign currencies were converted into Canadian dollars at the following rates: from September 30, 1950 to May 3, 1962, U.S.$1.00 = $1.00, thereafter, U.S.$1.00 = $1.081; from September 30, 1950 to May 3, 1962, £1 = $2.800; from May 3, 1962 to November 18, 1967, £1 = $3.027, thereafter, £1 = $2.595; prior to October 26, 1969, 1DM = $0.270, thereafter, 1DM = $0.295; from May 15, 1968 to June 24, 1970, 1 lira = $0.00173. Since December 31, 1971, Government of Canada issues payable in foreign currencies have been converted into Canadian dollars at the noon spot rate of the day of delivery. Effective March 1, 2017, daily average market rates are used to replace the noon market rates.

Treasury Bills are the total of weekly new issues or retirements in the month.

Effective November 5, 1986, there has been an accounting change in the treatment of Canada Savings Bonds sold on the Payroll Savings Plan. These bonds are now gradually included in outstandings, as payroll deductions are remitted over the contract period. Previously, the total amount of payroll sales was included in outstandings in November. Effective February 5, 1997, data on Canada Savings Bonds outstanding have been combined with data on Canada RRSP Bonds outstanding under the heading retail debt.

Provincial direct and guaranteed bonds include issues purchased by provincial accounts and with Quebec Pension Plan funds.

Municipal direct and guaranteed bonds do not include issues guaranteed by the provinces (already included in provincial bonds) nor issues sold directly to provinces and their agencies. Effective January 2017, the source of bond data for Ontario municipalities has changed from Bank of Canada to Statistic Canada, as is the case for all the other municipalities. As such, the data have been revised back to January 2015 to reflect this new methodology.

Commercial paper produced by the Dominion Bond Rating Service (DBRS) commencing in November 1993. Prior to that date, data were produced through a survey of commercial paper issuers conducted by the Bank of Canada. It is estimated that a high proportion of all paper issued in Canada is covered by the DBRS survey.

Term securitizations National Housing Act (NHA) mortgage-backed securities represent securitization issued under the NHA MBS program, as reported by the program trustee, Computershare Trust Company of Canada. Since January 2000, data have been obtained from Canada Mortgage and Housing Corporation.

Term securitizations other asset-backed securities are securities issued by special purpose corporations. Beginning January 2009, includes approximately $32.1 billion in Master Asset Vehicle long-term notes related to affected trust under the Montreal Proposal; $28.8 billion were asset-backed commercial paper.

Corporate bonds cover all public issues as well as most private placements with an original term to maturity of more than one year. Include all issues of Canadian corporations and issues of federal government business enterprises, with the exception of investment funds and commercial paper with an original term to maturity of one year or less, and issues sold to a parent company, whether this parent is incorporated in Canada or abroad. Effective September 1997, two new components, Canada Notes and Euro Medium-Term Notes (dating March 1996 and July 1997, respectively) were included with existing bond series. As of November 28, 2016, corporate bonds have been revised historically to include Euro Medium Term Notes.

Preferred stocks, common stocks and trust units issued by corporations do not include equity issued by investment funds and issues sold to a parent company whether the parent is incorporated in Canada or abroad. Shown at offering prices, and retirement at the actual amount paid by the corporation. Pursuant to section 91 of the Canadian and British Insurance Companies Act, common stock retirements do not include purchases by life insurance companies of their own stock.  Common stock retirements in 1961 and 1964 reflect the distribution by British Columbia Power Corporation to shareholders of funds received from the Province of British Columbia in payment for the common and preferred shares of British Columbia Electric Company Limited; the data reflect in 1963 the purchase by Quebec Hydro of privately owned hydro-electric companies, and in 1972 the purchase by the Nova Scotia Power Commission of Nova Scotia Light and Power Company Limited.

Other institutions and foreign debtors include issues of Canadian religious and other institutions and issues placed in Canada by foreign borrowers. New issues of foreign borrowers amounted to $20 million in 1961, $5 million in 1964, $32 million in 1965 ($25 million in the first quarter, and $7 million in the fourth quarter of 1965), $20 million in 1966, $20 million in 1967, $15 million in 1968, $25 million in 1971, $20 million in 1972, and $20 million in 1975. Issues by foreign borrowers have been retired throughout the period covered.

Prior to March 1, 2017, all issues other than Government of Canada payable in foreign currencies have been converted into Canadian dollars at the average noon market rate for the month. Effective March 1, 2017, daily average market rates are used to replace the noon market rates.

Financial corporations include financial subsidiaries of companies that engage in activities beyond solely financing parent company operations. This includes financing arms of automobile companies. All other financial subsidiaries that only operate to finance parent company operations are classified with the parent company.