As of 3 June 2024, all Government of Canada auctions of its treasury bills, bonds and Cash Management Bond Buybacks (CMBB) will be subject to T+1 settlement. This move will follow the Canadian secondary market’s own transition to T+1 settlement, expected to occur on Monday, 27 May 2024.
Treasury bill auctions will continue to occur on alternating Tuesdays, but their settlement dates will now be Wednesday. Bond auctions will likewise settle the following business day after the auction. All settlement details will continue to be announced via Calls for Tender and Quarterly Bond Schedules.
The Bank of Canada and the Government of Canada will monitor the secondary market’s move to T+1 and will proceed if this transition is orderly. Should any serious issues arise during the secondary market’s transition, this may delay the change to T+1 for the Government’s treasury bill, bond and CMBB operations. If such a delay…
