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Dept Management Report 2007-2008 : 2
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Reference Tables

I – Gross Public Debt, Outstanding Market Debt and Debt Charges

II – Government of Canada Outstanding Market Debt

III – Average Weekly Domestic Market Trading in Government of Canada Securities, April 2007 to March 2008

IV – Fiscal 2007–08 Treasury Bill Program

V – Fiscal 2007–08 Treasury Bill Auction Results

VI – Issuance of Government of Canada Domestic Bonds

VII – Fiscal 2007–08 Domestic Bond Program

VIII – Fiscal 2007–08 Domestic Bond Auction Results

IX – Outstanding Government of Canada Domestic Bonds as at March 31, 2008

X – Government of Canada Cross-Currency Swaps Outstanding as at March 31, 2008

XI – Fiscal 2007–08 Bond Buyback Program Operations

XII – Retail Debt Sales, Redemptions and Stock Outstanding

XIII – Crown Corporation Borrowings as at March 31, 2008

Reference Table I
Gross Public Debt, Outstanding Market Debt and Debt Charges

Fiscal year	Market debt	Market debt value adjustment	Accounts payable and accrued liabilities	Pension and other liabilities	Gross debt	Financial assets	Net debt	Non-financial assets	Accumulated deficit	Gross public debt charges	Fixed-rate portion of interest-bearing debt1
($ billions)										(%)
	+	+	+	=	-	=	-	=
1985–86	201.2	-0.4	39.4	79.1	319.4	70.1	249.2	21.4	227.8	27.7	51.9
1986–87	228.6	-0.4	42.1	84.7	355.0	73.2	281.8	24.2	257.7	28.7	50.9
1987–88	250.8	-0.9	47.2	90.9	388.0	75.0	313.0	26.3	286.7	31.2	51.2
1988–89	276.3	-2.2	50.2	97.1	421.4	77.9	343.6	29.0	314.6	35.5	49.6
1989–90	294.6	-2.9	53.2	104.5	449.3	74.5	374.8	31.0	343.8	41.2	49.9
1990–91	323.9	-3.2	54.9	112.1	487.7	76.6	411.1	33.4	377.7	45.0	50.4
1991–92	351.9	-2.2	56.1	118.5	524.2	78.5	445.7	35.8	410.0	43.9	50.7
1992–93	382.7	-3.0	58.4	125.1	563.2	76.0	487.2	38.2	449.0	41.3	50.4
1993–94	414.0	-1.8	63.7	131.4	607.3	79.3	527.9	40.4	487.5	40.1	53.3
1994–95	441.0	-3.4	71.3	139.8	648.7	81.2	567.5	43.3	524.2	44.2	55.1
1995–96	469.5	-1.7	74.9	148.5	691.3	92.7	598.6	44.4	554.2	49.4	56.9
1996–97	476.9	0.3	75.9	156.3	709.4	100.4	609.0	46.1	562.9	47.3	61.7
1997–98	466.8	1.4	81.7	160.9	710.8	103.6	607.2	47.2	559.9	43.1	63.7
1998–99	457.7	2.6	83.7	168.2	712.2	109.3	602.9	48.7	554.1	43.3	64.5
1999–00	454.2	-0.2	83.9	175.8	713.6	123.5	590.1	50.2	539.9	43.4	66.5
2000–01	444.9	1.3	88.5	179.0	713.6	141.9	571.7	51.7	520.0	43.9	67.8
2001–02	440.9	0.9	83.2	177.9	703.0	137.7	565.3	53.4	511.9	39.7	67.4
2002–03	438.6	-1.1	83.2	178.3	699.0	139.5	559.6	54.2	505.3	37.3	65.8
2003–04	436.5	-2.5	85.2	180.9	700.1	149.1	551.0	54.8	496.2	35.8	63.8
2004–05	431.8	-4.3	97.7	179.8	705.0	155.4	549.6	54.9	494.7	34.1	63.1
2005–06	427.3	-6.1	101.4	179.9	702.5	165.6	536.9	55.4	481.5	33.8	62.5
2006–07	418.8	-4.7	106.5	185.1	705.8	181.9	523.9	56.6	467.3	33.9	60.8
2007–08	394.1	-3.4	110.5	191.2	692.3	176.0	516.3	58.6	457.6	33.3	62.6
1Calculation methodology may vary slightly from year to year. The definition of interest-bearing debt changed slightly in 2002–03 to reflect the adoption of the full accrual basis of accounting. During 2007–08, improvements were made to the calculation of the fixed-rate share of the debt to more appropriately reflect the Government's exposure to interest rate risk. The fixed-rate share of the debt is adjusted by excluding components of the debt that are matched with financial assets of the same term and therefore do not represent an exposure to interest rate risk. The federal liabilities netted out from the fixed-rate share calculation include liabilities funding the assets in the Exchange Fund Account; debt securities matched with corresponding loans to Crown corporations; Government of Canada debt held by the Bank of Canada; and the debt offset by Receiver General cash and deposit balances. The fixed-rate share for 2006–07 and 2007–08 has been adjusted using this new methodology.

Reference Table II
Government of Canada Outstanding Market Debt

Fiscal year	Payable in Canadian dollars					Payable in foreign currencies
	Treasury bills	Marketable bonds	Retail debt	CPP bonds	Total	Canada bills	Marketable bonds	Canada notes	Euro Medium-Term Notes	Standby drawings	Term loans	Total	Less: Government's own holdings1	Total market debt	Average interest rate
($ billions)															(%)
1985–86	62.0	81.1	44.2	0.4	187.7	0.0	9.3	0.0	0.0	2.2	2.2	13.8	-0.3	201.2	10.7
1986–87	77.0	94.4	44.3	1.8	217.5	1.0	8.9	0.0	0.0	0.0	2.0	12.0	-0.9	228.6	9.3
1987–88	81.1	103.9	53.3	2.5	240.8	1.0	7.9	0.0	0.0	0.0	2.3	11.3	-1.2	250.8	9.6
1988–89	102.7	115.7	47.8	3.0	269.2	1.1	6.3	0.0	0.0	0.0	0.9	8.3	-1.2	276.3	10.8
1989–90	118.6	127.7	40.9	3.1	290.2	1.4	4.3	0.0	0.0	0.0	0.0	5.7	-1.3	294.6	11.2
1990–91	139.2	143.6	34.4	3.5	320.7	1.0	3.6	0.0	0.0	0.0	0.0	4.5	-1.3	323.9	10.7
1991–92	152.3	158.1	35.6	3.5	349.5	0.0	3.4	0.0	0.0	0.0	0.0	3.4	-1.0	351.9	8.9
1992–93	162.1	178.5	34.4	3.5	378.4	2.6	2.8	0.0	0.0	0.0	0.0	5.4	-1.1	382.7	7.9
1993–94	166.0	203.4	31.3	3.5	404.3	5.6	5.0	0.0	0.0	0.0	0.0	10.7	-1.0	414.0	6.8
1994–95	164.5	225.7	31.4	3.5	425.1	9.0	7.9	0.0	0.0	0.0	0.0	16.9	-1.0	441.0	8.0
1995–96	166.1	252.8	31.4	3.5	453.8	7.0	9.5	0.3	0.0	0.0	0.0	16.8	-1.0	469.5	7.3
1996–97	135.4	282.6	33.5	3.5	454.9	8.4	12.5	2.1	0.0	0.0	0.0	23.0	-1.1	476.9	6.7
1997–98	112.3	294.6	30.5	3.5	440.8	9.4	14.6	1.7	1.5	0.0	0.0	27.2	-1.2	466.8	6.6
1998–99	97.0	295.8	28.2	4.1	425.0	10.2	19.7	1.3	4.9	0.0	0.0	36.0	-3.3	457.7	6.7
1999–00	99.9	294.4	26.9	3.6	424.7	6.0	21.4	1.1	4.1	0.0	0.0	32.6	-3.1	454.2	6.2
2000–01	88.7	295.5	26.4	3.5	414.1	7.2	21.2	1.6	3.7	0.0	0.0	33.7	-2.9	444.9	6.1
2001–02	94.2	294.9	24.0	3.4	416.5	3.4	19.8	1.2	3.2	0.0	0.0	27.5	-3.1	440.9	5.6
2002–03	104.6	289.2	22.6	3.4	419.8	2.6	14.5	1.2	3.3	0.0	0.0	21.6	-2.7	438.6	5.3
2003–04	113.4	279.0	21.3	3.4	417.1	3.4	13.2	1.3	3.0	0.0	0.0	20.8	-1.5	436.5	4.9
2004–05	127.2	266.7	19.1	3.4	416.3	3.9	9.9	1.1	1.7	0.0	0.0	16.5	-1.1	431.8	4.6
2005–06	131.6	261.9	17.3	3.1	413.9	4.7	7.6	0.5	1.5	0.0	0.0	14.3	-1.0	427.3	4.7
2006–07	134.1	257.9	15.2	1.7	408.9	1.8	6.7	0.5	1.6	0.0	0.0	10.6	-0.7	418.8	4.9
2007–08	117.0	253.8	13.1	1.0	384.9	1.5	6.1	0.5	1.6	0.0	0.0	9.7	-0.5	394.1	3.9
1Because certain comparative figures have been restated to reflect the presentation method used in recent years, the numbers presented in this reference table may differ from numbers presented in other sections of the 2007–08 Debt Management Report. In the reference table, "Government's holdings—Consolidation adjustment" is presented separately but in the rest of the report the amount is incorporated into the figures. For more information, please consult Table 6.1, Table 6.14 and Section 2.16 of the Public Accounts of Canada 2008. Source: Public Accounts of Canada.

Reference Table III
Average Weekly Domestic Market Trading in Government of Canada Securities, April 2007 to March 2008

		Marketable bonds
	Treasury bills	3 years and under	3 to 10 years	Over 10 years	Real Return Bonds	Total marketable bonds	Total
	($ millions)
April 2007	18,177	32,050	52,550	10,275	322	95,197	113,374
May 2007	18,240	32,372	66,903	11,710	577	111,562	129,802
June 2007	19,478	39,612	94,481	13,566	874	148,533	168,011
July 2007	18,093	26,023	55,653	9,628	603	91,907	110,000
August 2007	21,455	39,054	68,144	9,591	493	117,282	138,737
September 2007	17,720	48,601	68,538	10,641	416	128,196	145,916
October 2007	16,841	37,079	52,366	9,694	422	99,561	116,402
November 2007	20,845	40,109	54,727	9,686	437	104,959	125,804
December 2007	20,281	34,882	49,653	10,884	481	95,900	116,181
January 2008	20,318	38,471	48,639	11,655	429	99,194	119,512
February 2008	18,353	45,680	51,460	10,514	438	108,092	126,445
March 2008	23,300	44,755	62,412	12,372	759	120,298	143,598
Source: Bank of Canada.

Reference Table IV
Fiscal 2007–08 Treasury Bill Program

	Maturing							New issues									Net increment						Average tender yields
Settlement date	CMB1		3 mo	6 mo		12 mo	Total	CMB1	3 mo		6 mo		12 mo		Total		Total		Cumulative		O/S2		CMB1	3 mo		6 mo	12 mo
($ millions)																							(%)
April 2, 2007	2,600						2,600						0		-2,600		-2,600		131,500
April 3, 2007	4,000						4,000						0		-4,000		-6,600		127,500
April 4, 2007	4,000						4,000						0		-4,000		-10,600		123,500
April 5, 2007	5,600		4,100	4,400			14,100		4,400		1,800		1,800		8,000		-6,100		-16,700		117,400			4.17		4.21	4.21
April 19, 2007			3,800			3,600	7,400		3,800		1,600		1,600		7,000		-400		-17,100		117,000			4.17		4.24	4.29
May 3, 2007			4,400	4,900			9,300		3,800		1,600		1,600		7,000		-2,300		-19,400		114,700			4.17		4.25	4.32
May 17, 2007			4,700			3,800	8,500		3,800		1,600		1,600		7,000		-1,500		-20,900		113,200			4.16		4.25	4.34
May 28, 2007							0	2,000							2,000		2,000		-18,900		115,200		4.21
May 30, 2007							0	1,500							1,500		1,500		-17,400		116,700		4.21
May 31, 2007			6,500	4,700			11,200		4,400		1,800		1,800		8,000		-3,200		-20,600		113,500			4.29		4.43	4.56
June 1, 2007							0	1,200							1,200		1,200		-19,400		114,700		4.25
June 4, 2007	1,200						1,200								0		-1,200		-20,600		113,500
June 5, 2007	2,000						2,000								0		-2,000		-22,600		111,500
June 14, 2007			7,100			4,400	11,500	1,700	4,700		1,900		1,900		10,200		-1,300		-23,900		110,200		4.18	4.35		4.56	4.78
June 20, 2007							0	2,700							2,700		2,700		-21,200		112,900		4.25
June 27, 2007							0	2,800							2,800		2,800		-18,400		115,700		4.25
June 28, 2007			6,200	3,300			9,500	3,000	5,600		2,200		2,200		13,000		3,500		-14,900		119,200		4.24	4.42		4.56	4.75
July 3, 2007	1,500						1,500								0		-1,500		-16,400		117,700
July 4, 2007	2,800						2,800								0		-2,800		-19,200		114,900
July 5, 2007	1,700						1,700								0		-1,700		-20,900		113,200
July 6, 2007	2,700						2,700								0		-2,700		-23,600		110,500
July 12, 2007	3,000		4,400			4,000	11,400	1,900	5,300		2,100		2,100		11,400		0		-23,600		110,500		4.41	4.51		4.62	4.75
July 20, 2007							0	2,000							2,000		2,000		-21,600		112,500		4.47
July 26, 2007			3,800	3,700			7,500	2,000	4,400		1,800		1,800		10,000		2,500		-19,100		115,000		4.47	4.56		4.68	4.78
Aug. 2, 2007	1,900						1,900								0		-1,900		-21,000		113,100
Aug. 3, 2007	2,000						2,000								0		-2,000		-23,000		111,100
Aug. 9, 2007	2,000		3,800			3,500	9,300		4,700		1,900		1,900		8,500		-800		-23,800		110,300			4.61		4.70	4.76
Aug. 23, 2007			3,800	5,200			9,000	2,500	4,700		1,900		1,900		11,000		2,000		-21,800		112,300		4.02	4.01		4.07	4.06
Aug. 29, 2007							0	2,500							2,500		2,500		-19,300		114,800		3.94
Aug. 31, 2007							0	1,500							1,500		1,500		-17,800		116,300		4.30
Sept. 6, 2007	2,500		4,400			4,600	11,500		5,000		2,000		2,000		9,000		-2,500		-20,300		113,800			4.08		4.30	4.36
Sept. 10, 2007	1,500						1,500								0		-1,500		-21,800		112,300
Sept. 20, 2007	2,500		4,700	4,200			11,400	2,000	4,400		1,800		1,800		10,000		-1,400		-23,200		110,900		4.15	4.11		4.30	4.39
Oct. 4, 2007	2,000		5,600			4,400	12,000		4,100		1,700		1,700		7,500		-4,500		-27,700		106,400			4.02		4.21	4.23
Oct. 18, 2007			5,300	3,200			8,500	3,200	4,100		1,700		1,700		10,700		2,200		-25,500		108,600		4.15	3.99		4.30	4.42
Oct. 19, 2007							0	2,400							2,400		2,400		-23,100		111,000		4.20
Oct. 30, 2007							0	1,500							1,500		1,500		-21,600		112,500		4.18

Reference Table IV (cont'd)
Fiscal 2007–08 Treasury Bill Program

	Maturing							New issues									Net increment						Average tender yields
Settlement date	CMB1		3 mo	6 mo		12 mo	Total	CMB1	3 mo		6 mo		12 mo		Total		Total		Cumulative		O/S2		CMB1	3 mo		6 mo	12 mo
($ millions)																							(%)
Nov. 1, 2007		4,400			4,900		9,300			5,300		2,100		2,100		9,500		200		-21,400		112,700			3.97	4.25		4.30
Nov. 5, 2007	3,200						3,200									0		-3,200		-24,600		109,500
Nov. 7, 2007	2,400						2,400									0		-2,400		-27,000		107,100
Nov. 15, 2007	1,500	4,700		3,400			9,600			6,500		2,500		2,500		11,500		1,900		-25,100		109,000			4.01	4.22		4.22
Nov. 20, 2007							0	2,500								2,500		2,500		-22,600		111,500	4.05
Nov. 28, 2007							0	2,000								2,000		2,000		-20,600		113,500	4.23
Nov. 29, 2007		4,700			4,700		9,400			6,800		2,600		2,600		12,000		2,600		-18,000		116,100			3.92	3.94		3.89
Nov. 30, 2007							0	1,000								1,000		1,000		-17,000		117,100	4.18
Dec. 5, 2007	2,000						2,000									0		-2,000		-19,000		115,100
Dec. 7, 2007	1,000						1,000									0		-1,000		-20,000		114,100
Dec. 13, 2007	2,500	5,000		4,100			11,600	2,500		4,400		1,800		1,800		10,500		-1,100		-21,100		113,000	4.06		3.88	4.00		4.02
Dec. 20, 2007							0	3,000								3,000		3,000		-18,100		116,000	4.05
Dec. 27, 2007		4,400			3,300		7,700			4,100		1,700		1,700		7,500		-200		-18,300		115,800			3.86	4.00		4.00
Jan. 3, 2008	2,500						2,500									0		-2,500		-20,800		113,300
Jan. 4, 2008	3,000						3,000									0		-3,000		-23,800		110,300
Jan. 10, 2008		4,100		3,900			8,000			3,800		1,600		1,600		7,000		-1,000		-24,800		109,300			3.75	3.79		3.77
Jan. 21, 2008							0	1,500								1,500		1,500		-23,300		110,800	3.65
Jan. 24, 2008		4,100			3,700		7,800	2,300		4,100		1,700		1,700		9,800		2,000		-21,300		112,800	3.79		3.46	3.46		3.35
Jan. 30, 2008							0	1,500								1,500		1,500		-19,800		114,300	3.97
Feb. 1, 2008	2,300						2,300									0		-2,300		-22,100		112,000
Feb. 4, 2008	1,500						1,500									0		-1,500		-23,600		110,500
Feb. 7, 2008	1,500	5,300		3,800			10,600			4,700		1,900		1,900		8,500		-2,100		-25,700		108,400			3.31	3.33		3.23
Feb. 15, 2008							0	1,200								1,200		1,200		-24,500		109,600	3.44
Feb. 21, 2008		6,500			5,200		11,700	2,500		5,300		2,100		2,100		12,000		300		-24,200		109,900	3.22		3.24	3.25		3.16
Feb. 28, 2008							0	1,000								1,000		1,000		-23,200		110,900	3.61
Mar. 3, 2008	2,200						2,200									0		-2,200		-25,400		108,700
Mar. 6, 2008		6,800		3,800			10,600			5,600		2,200		2,200		10,000		-600		-26,000		108,100			2.94	2.96		2.89
Mar. 17, 2008							0	2,500								2,500		2,500		-23,500		110,600	2.27
Mar. 20, 2008		4,400			4,200		8,600	2,700		5,900		2,300		2,300		13,200		4,600		-18,900		115,200	2.20		2.03	2.29		2.34
Mar. 28, 2008							0	1,200								1,200		1,200		-17,700		116,400	3.07
Mar. 31, 2008							0	600								600		600		-17,100		117,000	3.06
Total	71,100	127,000		52,600	54,300		305,000	64,400		123,700		49,900		49,900		287,900		-17,100
1  Cash management bill. 2  Oustanding. Source: Bank of Canada.

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