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The declining supply of treasury bills and the Canadian money market

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    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.

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    File URL: http://www.bankofcanada.ca/wp-content/uploads/2010/06/r983c.pdf
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    Bibliographic Info

    Article provided by Bank of Canada in its journal Bank of Canada Review.

    Volume (Year): 1998 (1998)
    Issue (Month): Summer ()
    Pages: 53-69

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    Handle: RePEc:bca:bcarev:v:1998:y:1998:i:summer98:p:53-69

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    Cited by:
    1. Muller, P. & M. Zelmer, 1999. "Greater Transparency in Monetary Policy: Impact on Financial Markets," Technical Reports 86, Bank of Canada.
    2. Toni Gravelle & Richhild Moessner, 2001. "Reactions of Canadian Interest Rates to Macroeconomic Announcements: Implications for Monetary Policy Transparency," Working Papers 01-5, Bank of Canada.
    3. Bolder, David & Streliski, David, 1999. "Yield Curve Modelling at the Bank of Canada," Technical Reports 84, Bank of Canada.

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