Archived - Debt Management Report 2008-2009

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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 2008 to March 2009

IV – Fiscal 2008–09 Treasury Bill Program

V – Fiscal 2008–09 Treasury Bill Auction Results

VI – Issuance of Government of Canada Domestic Bonds

VII – Fiscal 2008–09 Domestic Bond Program

VIII – Fiscal 2008–09 Domestic Bond Auction Results

IX – Outstanding Government of Canada Domestic Bonds as at March 31, 2009

X – Government of Canada Cross-Currency Swaps Outstanding as at March 31, 2009

XI – Fiscal 2008–09 Bond Buyback Program Operations

XII – Retail Debt Sales, Redemptions and Stock Outstanding

XIII – Crown Corporation Borrowings as at March 31

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
2008–09 510.9 3.1 114.0 196.1 824.2 298.9 525.2 61.5 463.7 31.0 61.0

1 Calculation 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 from 2006–07 onwards has been adjusted to reflect this new methodology.

 

Reference Table II
Government of Canada Outstanding Market Debt
Payable in Canadian dollars Payable in foreign currencies      
 

     
Fiscal year 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 -0.7 418.9 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 4.6
2008–09 192.5 295.3 12.5 0.5 500.8 8.7 0.3 0.0 1.7 0.0 0.0 10.6 -0.6 510.9 3.2
1 Because certain comparative figures have been restated to reflect the presentation method used in recent years, the numbers in this reference table may differ from numbers in other sections of the 2008–09 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 and Table 6.14 of the Public Accounts of Canada 2009.
Source: Public Accounts of Canada.

 

Reference Table III
Average Weekly Domestic Market Trading in Government of Canada Securities, April 2008 to March 2009
Marketable bonds
   
 
Treasury
bills
3 years
and under
3 to 10 years Over
10 years
Real
Return
Bonds
Total
marketable
bonds
Total
($ millions)
April 2008 21,556 34,809 48,368 12,066 428 95,671 117,227
May 2008 21,517 33,065 45,943 10,290 518 89,816 111,333
June 2008 24,429 34,983 60,294 10,518 412 106,207 130,636
July 2008 23,224 26,826 38,319 9,567 337 75,049 98,273
August 2008 21,255 28,122 31,846 6,446 423 66,837 88,092
September 2008 25,521 41,781 52,507 8,943 618 103,849 129,370
October 2008 33,147 31,059 46,627 9,193 441 87,320 120,467
November 2008 33,838 33,225 46,273 10,209 382 90,089 123,927
December 2008 32,240 23,223 29,843 7,694 606 61,366 93,606
January 2009 38,126 27,695 37,635 8,957 259 74,546 112,672
February 2009 37,982 27,565 44,885 10,250 279 82,979 120,961
March 2009 31,928 34,005 35,498 15,455 409 85,367 117,295
Source: Bank of Canada.

 

Reference Table IV
Fiscal 2008–09 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) (%)
Apr. 1, 2008 2,700       2,700         0 -2,700 -2,700 114,300        
Apr. 3, 2008 2,500 4,100 3,400   10,000   4,400 1,800 1,800 8,000 -2,000 -4,700 112,300   1.98 2.43 2.65
Apr. 4, 2008 1,800       1,800         0 -1,800 -6,500 110,500        
Apr. 7, 2008         0 2,000       2,000 2,000 -4,500 112,500 2.49      
Apr. 10, 2008         0 2,000       2,000 2,000 -2,500 114,500 3.17      
Apr.16, 2008         0 3,000       3,000 3,000 500 117,500 3.39      
Apr. 17, 2008 2,500 3,800   3,200 9,500   5,600 2,200 2,200 10,000 500 1,000 118,000   2.49 2.59 2.77
Apr. 18, 2008         0 1,800       1,800 1,800 2,800 119,800 3.28      
Apr. 28, 2008         0 3,200       3,200 3,200 6,000 123,000 3.12      
May 1, 2008 2,000 4,100 4,600   10,700   7,100 2,700 2,700 12,500 1,800 7,800 124,800   2.70 2.72 2.81
May 2, 2008 3,800       3,800         0 -3,800 4,000 121,000        
May 5, 2008 3,000       3,000         0 -3,000 1,000 118,000        
May 6, 2008 3,200       3,200         0 -3,200 -2,200 114,800        
May 15, 2008   4,700   3,400 8,100   7,100 2,700 2,700 12,500 4,400 2,200 119,200   2.71 2.69 2.73
May 21, 2008         0 3,000       3,000 3,000 5,200 122,200 2.68      
May 28, 2008         0 2,800       2,800 2,800 8,000 125,000 2.99      
May 29, 2008   5,300 4,400   9,700   7,400 2,800 2,800 13,000 3,300 11,300 128,300   2.73 2.75 2.87
June 4, 2008 2,800       2,800         0 -2,800 8,500 125,500        
June 12, 2008 3,000 5,600   4,100 12,700   6,500 2,500 2,500 11,500 -1,200 7,300 124,300   2.83 3.09 3.30
June 20, 2008         0 2,500       2,500 2,500 9,800 126,800 2.78      
June 26, 2008   5,900 3,300   9,200 2,500 5,300 2,100 2,100 12,000 2,800 12,600 129,600 2.66 2.69 3.01 3.25
June 30, 2008         0 1,000       1,000 1,000 13,600 130,600 2.68      
July 2, 2008 2,500       2,500         0 -2,500 11,100 128,100        
July 4, 2008 3,500       3,500         0 -3,500 7,600 124,600        
July 10, 2008   4,400   3,900 8,300   4,400 1,800 1,800 8,000 -300 7,300 124,300   2.43 2.92 3.13
July 18, 2008         0 2,300       2,300 2,300 9,600 126,600 2.71      
July 23, 2008         0 2,000       2,000 2,000 11,600 128,600 2.68      
July 24, 2008   5,600 3,600   9,200   6,200 2,400 2,400 11,000 1,800 13,400 130,400   2.42 2.84 3.08
July 29, 2008         0 2,100       2,100 2,100 15,500 132,500 2.70      
Aug. 1, 2008 2,300       2,300         0 -2,300 13,200 130,200        
Aug. 5, 2008 2,100       2,100         0 -2,100 11,100 128,100        
Aug. 7, 2008 2,000 7,100   3,800 12,900   6,800 2,600 2,600 12,000 -900 10,200 127,200   2.47 2.74 2.86
Aug. 20, 2008         0 2,000       2,000 2,000 12,200 129,200 2.35      
Aug. 21, 2008   7,100 4,300   11,400   5,300 2,100 2,100 9,500 -1,900 10,300 127,300   2.52 2.67 2.67
Aug. 25, 2008         0 2,000       2,000 2,000 12,300 129,300 2.87      
Aug. 28, 2008         0 1,300       1,300 1,300 13,600 130,600 2.85      
Sept. 4, 2008 2,000 7,400   3,800 13,200   5,000 2,000 2,000 9,000 -4,200 9,400 126,400   2.41 2.66 2.66
Sept. 5, 2008 2,000       2,000         0 -2,000 7,400 124,400        
Sept. 10, 2008 1,300       1,300         0 -1,300 6,100 123,100        
Sept. 18, 2008   6,500 4,100   10,600 3,000 5,000 2,000 2,000 12,000 1,400 7,500 124,500 1.36 2.16 2.36 2.41
Sept. 19, 2008         0 2,000       2,000 2,000 9,500 126,500 2.24      
Sept. 22, 2008         0 2,000       2,000 2,000 11,500 128,500 2.62      
Sept. 25, 2008         0 2,000       2,000 2,000 13,500 130,500 2.33      
Sept. 26, 2008         0 2,800       2,800 2,800 16,300 133,300 2.36      
Oct. 2, 2008 7,000 5,300   3,400 15,700   6,200 2,400 2,400 11,000 -4,700 11,600 128,600   1.88 2.36 2.66
Oct. 6, 2008 2,800       2,800         0 -2,800 8,800 125,800        
Oct. 15, 2008         0 4,000       4,000 4,000 12,800 129,800 2.29      
Oct. 16, 2008 2,000 4,400 4,900   11,300   8,000 3,000 3,000 14,000 2,700 15,500 132,500   1.64 2.00 2.06
Oct. 17, 2008         0 4,000       4,000 4,000 19,500 136,500 1.83      
Oct. 20, 2008         0 4,000       4,000 4,000 23,500 140,500 2.05      
Oct. 22, 2008         0 4,000       4,000 4,000 27,500 144,500 2.23      
Oct. 23, 2008         0 4,000       4,000 4,000 31,500 148,500 2.24      
Oct. 30, 2008   6,200   4,600 10,800   8,600 3,200 3,200 15,000 4,200 35,700 152,700   2.21 2.21 2.24
Nov. 13, 2008 4,000 6,800 5,500   16,300 4,000 8,600 3,200 3,200 19,000 2,700 38,400 155,400 1.96 1.91 1.89 1.89
Nov. 19, 2008         0 4,000       4,000 4,000 42,400 159,400 2.04      
Nov. 20, 2008         0 3,500       3,500 3,500 45,900 162,900 1.93      
Nov. 24, 2008         0 2,500       2,500 2,500 48,400 165,400 2.07      
Nov. 27, 2008 4,000 5,300   4,400 13,700   9,200 3,400 3,400 16,000 2,300 50,700 167,700   1.84 1.72 1.71
Nov. 28, 2008         0 3,000       3,000 3,000 53,700 170,700 1.75      
Dec. 11, 2008 7,500 5,000 4,600   17,100   9,800 3,600 3,600 17,000 -100 53,600 170,600   1.30 1.31 1.33
Dec. 18, 2008 2,500       2,500         0 -2,500 51,100 168,100        
Dec. 19, 2008         0 4,000       4,000 4,000 55,100 172,100 0.86      
Dec. 24, 2008 4,000 5,000   3,300 12,300   9,800 3,600 3,600 17,000 4,700 59,800 176,800   0.95 0.98 0.98
Jan. 8, 2009 8,000 6,200 4,200   18,400   10,400 3,800 3,800 18,000 -400 59,400 176,400   0.94 0.93 0.97
Jan. 21, 2009         0 4,000       4,000 4,000 63,400 180,400 0.90      
Jan. 22, 2009 4,000 8,000   3,600 15,600   10,400 3,800 3,800 18,000 2,400 65,800 182,800   0.93 0.91 0.96
Jan. 29, 2009         0 4,000       4,000 4,000 69,800 186,800 0.84      
Feb. 5, 2009 4,000 8,600 4,700   17,300   10,400 3,800 3,800 18,000 700 70,500 187,500   0.90 0.92 1.03
Feb. 19, 2009 3,000 8,600   4,300 15,900   9,800 3,600 3,600 17,000 1,100 71,600 188,600   0.80 0.82 0.88
Mar. 5, 2009   9,200 4,000   13,200   9,200 3,400 3,400 16,000 2,800 74,400 191,400   0.53 0.62 0.73
Mar. 19, 2009   9,800   4,100 13,900   8,600 3,200 3,200 15,000 1,100 75,500 192,500   0.46 0.56 0.68
Total 97,800 160,000 55,600 49,900 363,300 96,300 195,100 73,700 73,700 438,800 75,500            

1 Cash management bill.
2 Oustanding
Source: Bank of Canada