|
|
|
|
|
|
|||||
      
|
Ottawa, December 4, 1997
1997-113
Sales Results Announced for Series 52 Canada Savings Bonds
Finance Minister Paul Martin announced today that net sales of the 1997 issue (Series 52) of Canada Savings Bonds (CSBs) - after allowing for redemptions of past series since the beginning of October - totalled $0.6 billion. Gross sales totalled $4.9 billion.
"The results are an impressive reminder that many Canadians like the safety and security of CSBs and make them part of their financial plans." noted Mr. Martin. "We have met retail debt strategy expectations - which are to diversify debt holdings at levels appropriate to Government of Canada funding requirements."
The $4.9 billion in gross CSB sales includes an estimated $1.4 billion purchased through Canada Payroll Savings.
"With historically low interest rates, strong stock markets and more products than ever in the marketplace, we have maintained our retail portfolio while providing competitive rates for both Series 52 and holders of outstanding bonds," added Jacqueline Orange, President and CEO of Canada Investment and Savings (CI&S), the agency responsible for Government of Canada retail debt products. "We have ensured that Canadians have access to appealing federal debt products and are pleased with our sales results."
Speaking to the Canada Payroll Savings program, Orange noted: "I am excited about the new approach to saving through payroll deduction that we launched at 1500 companies. We plan to roll it out to many more companies in 1998."
Canada Investment and Savings plays an important part in the government's debt program, by having an investor base among the widest possible range of individual Canadians. Its long-term strategy is to continually develop innovative products and services that will fulfil investor needs and encourage Canadians to invest in Canada. To that end, the sales campaign for Series 53 CSBs (for transfers of registered funds into The Canada RSP and new this year, The Canada RIF) ended December 1, 1997 and Series 2 of the Canada RRSP Bond will be available during RRSP season.
As CI&S moves towards selling products year-round, it will also begin reporting on the retail debt portfolio at year-end. In addition to the products and plans marketed directly by CI&S (currently CSBs, CSB-RRSPs, CSB-RRIFs and Canada RRSP Bonds), the retail debt portfolio includes Marketable Government of Canada Bonds, Treasury bills and Real Return Bonds held by individual Canadians.
___________________
For further information:
Canada Investment and Savings Media Relations
(613) 943-1299
(613) 992-2550
|
|
||||
| Last Updated: 2005-01-04 |
|
||||
