In the latest federal budget released on 22 March 2017, the Government of Canada announced it will discontinue the sale of Canada Savings Bonds (CSBs) and Canada Premium Bonds (CPBs) as of November 2017.
Given the overall decline in sales, the access to alternative investments vehicles for consumers and the administration and management costs of the program, the Canada Savings Bonds Program is no longer a main component of the federal debt management strategy. The Government of Canada is able to source funding at a more cost effective rate by issuing wholesale debt.
The Government of Canada reassures Canadians that any unmatured CSBs or CPBs are safe and guaranteed, and bonds will continue to be honoured until the time of redemption or maturity, whichever comes first.
Bond owners are encouraged to refer to the Questions and Answers to find out what this announcement means to them.
For more information about this decision, consult the 2017 federal budget report.
Content Type(s):
Announcement