The declining supply of treasury bills and the Canadian money market

Serge Boisvert and Nancy Harvey
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Nancy Harvey: Bank of Canada, https://www.bankofcanada.ca/

Bank of Canada Review, 1998, vol. 1998, issue Summer, 53-69

Abstract: The supply of treasury bills has fallen considerably since 1995, reflecting a decline in the financing needs of the Canadian government and a change in its debt-management strategy. This has had a major impact on different segments of the money market. Among the various implications of this development, the authors point out the decrease in turnover and, hence, liquidity in the treasury bill market since 1995, as well as high rates of growth in the market for short-term interest rate derivatives and for short-term asset-backed securities.

Date: 1998
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