January 5, 2017 / 4:02 PM / a year ago

Canada announces pilot program for cash management bond buybacks

TORONTO, Jan 5 (Reuters) - The Bank of Canada and Canada’s Department of Finance announced on Thursday a pilot program for their cash management bond buybacks that the central bank says will increase the flexibility of the maximum repurchase amount at each operation.

The pilot program will introduce a two-step call for tenders process, similar to that for the treasury bill program, and will commence with the operation to be held on Jan. 17, the Bank of Canada said.

For details, see: here Reporting by Fergal Smith; Editing by Paul Simao

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