Archived - Canada Plans US-Dollar Global Bond Issue: 2014-02

February 19, 2014 – Ottawa, Ontario – Department of Finance

Finance Minister Jim Flaherty today announced that the Government of Canada plans to issue a US-dollar-denominated global bond later this week, subject to market conditions. The bond issue will provide funds to supplement and diversify Canada’s foreign exchange reserves and to meet foreign currency requirements.

• Canada holds its foreign exchange reserves in the Exchange Fund Account (EFA).
• EFA assets provide foreign currency liquidity and support the promotion of orderly conditions for the Canadian dollar in foreign exchange markets.
• Funds for the EFA can be raised through cross-currency swaps of Canadian-dollar borrowings, foreign-currency-denominated debt issues and outright purchases of foreign currency.

Marie Prentice
Press Secretary
Office of the Minister of Finance
613-996-7861

Jack Aubry
Media Relations
Department of Finance
613-996-8080