How the Government of Canada Borrows Money
Canada finances cash requirements mainly by issuing treasury bills and marketable bonds through regular auctions.
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Borrowing & Interest
How Canada raises money, refinances securities and pays public debt charges.
Government Bonds vs Treasury Bills
Both are federal borrowing instruments, but they differ mainly in maturity and how investors receive a return.
Read guideDebt Maturity and Refinancing Risk
The timing of maturities affects how quickly higher or lower market interest rates flow into federal debt charges.
Read guidePublic Debt Charges: The Cost of Servicing Federal Liabilities
Public debt charges are annual expenses. They are not the same as repaying all principal, and they are not the debt balance itself.
Read guideHow Interest Rates Affect Canadian Government Debt
Interest rates change the cost of new and refinanced borrowing; they do not instantly change the face value of all federal debt.
Read guideInflation, Nominal Debt and Real Burden
Inflation can reduce the real value of fixed nominal debt, but it can also increase interest rates, indexed costs and future borrowing expenses.
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