Canada's federal borrowing ceiling raised to $2.541 trillion

Plain-language summary · AI-assisted

The statutory cap on the total amount the federal government may have outstanding in borrowed money at any one time has been increased from $2,126,000,000,000 to $2,541,000,000,000. The ceiling covers borrowings by the Minister of Finance, Canada Mortgage Bonds guaranteed by CMHC, and borrowings by federal agent corporations. This change affects how much the federal government and its agent corporations can have borrowed in aggregate at any given moment. Organizations that monitor federal debt capacity, financial institutions that hold or trade Government of Canada securities, and Crown corporations should take note of the revised limit.

Who this affects
federal government financial officers · financial institutions holding Government of Canada securities · Canada Mortgage and Housing Corporation · federal agent corporations · fixed-income market participants