The Bank of Canada today announced that revised terms for Government of Canada bond auctions will take effect later this month.

The Bank said that the revised Terms of Participation and the Standard Terms for Government of Canada Auctions, prepared jointly by the Department of Finance and the Bank of Canada on behalf of the Government of Canada, will become effective on December 13.

The new protocols incorporate the changes to the Government Debt Distribution Framework announced on August 8. These changes include modifications to the formulas used for the calculation of competitive bidding limits; an increase in customers’ non-competitive bidding limits; alternative trading systems can qualify as dealers; and there are a couple of changes to minimum bidding obligations.