Section 7—Public debt charges
Public Accounts of Canada 2020 Volume III—Top of the page Navigation
Public debt charges include:
- the interest on unmatured debt and on other accounts
- the amortization of premiums and discounts on unmatured debt
- the servicing costs and costs of issuing new borrowings
The following statement presents details of the current year's public debt charges.
| Description | Rate of interest (%) | Amount of principal | Amount charged in 2020 |
|---|---|---|---|
| Unmatured Debt | |||
| Interest on marketable bonds Link to footnote 1 | |||
| Payable in Canadian currency | |||
| CA135087A610—June 2023 | 1.50 | 14,200,000,000 | 213,195,055 |
| CA135087B451—June 2024 | 2.50 | 13,700,000,000 | 345,270,272 |
| CA135087B949—Dec 2047 | 1.25 | 8,542,919,000 | 107,134,977 |
| CA135087C855—Sept 2019 | 1.75 | – | 68,888,435 |
| CA135087C939—Dec 2064 | 2.75 | 4,750,000,000 | 130,744,620 |
| CA135087D358—Dec 2048 | 2.75 | 14,900,000,000 | 410,125,229 |
| CA135087D507—June 2025 | 2.25 | 13,100,000,000 | 295,019,918 |
| CA135087D929—March 2020 | 1.50 | – | 246,741,539 |
| CA135087E596—Sept 2020 | 0.75 | 20,023,985,000 | 175,414,842 |
| CA135087E679—June 2026 | 1.50 | 13,472,000,000 | 202,675,467 |
| CA135087F254—March 2021 | 0.75 | 24,426,363,000 | 188,751,641 |
| CA135087F585—Sept 2021 | 0.75 | 19,064,511,000 | 143,969,616 |
| CA135087F825—June 2027 | 1.00 | 14,915,000,000 | 150,117,180 |
| CA135087G328—March 2022 | 0.50 | 19,000,000,000 | 95,000,000 |
| CA135087G658—May 2019 | 0.75 | – | 4,903,023 |
| CA135087G732—Sept 2022 | 1.00 | 25,200,000,000 | 224,021,203 |
| CA135087G815—Aug 2019 | 0.75 | – | 20,886,350 |
| CA135087G997—Dec 2050 | 0.50 | 6,525,376,000 | 28,781,659 |
| CA135087H235—June 2028 | 2.00 | 13,500,000,000 | 270,247,253 |
| CA135087H318—Nov 2019 | 1.25 | – | 96,270,516 |
| CA135087H490—March 2023 | 1.75 | 24,600,000,000 | 306,454,914 |
| CA135087H565—Feb 2020 | 1.25 | – | 81,343,952 |
| CA135087H722—Dec 2051 | 2.00 | 10,816,529,000 | 164,250,086 |
| CA135087H805—May 2020 | 1.75 | 7,996,383,000 | 149,282,452 |
| CA135087H987—Sept 2023 | 2.00 | 12,000,000,000 | 240,000,000 |
| CA135087J215—Aug 2020 | 1.75 | 9,208,191,000 | 193,972,892 |
| CA135087J397—June 2029 | 2.25 | 12,300,000,000 | 272,799,138 |
| CA135087J470—Nov 2020 | 2.00 | 8,575,612,000 | 214,216,308 |
| CA135087J546—March 2024 | 2.25 | 11,907,680,000 | 269,961,601 |
| CA135087J629—Feb 2021 | 2.25 | 11,706,364,000 | 268,130,540 |
| CA135087J884—May 2021 | 1.75 | 10,866,561,000 | 206,603,626 |
| CA135087J967—June 2024 | 1.50 | 16,065,381,000 | 196,253,329 |
| CA135087K296—Aug 2021 | 1.50 | 11,967,100,000 | 142,953,900 |
| CA135087K379—June 2030 | 1.25 | 10,200,000,000 | 54,797,945 |
| CA135087K452—Nov 2021 | 1.25 | 12,000,000,000 | 83,185,308 |
| CA135087K528—March 2025 | 1.25 | 17,300,000,000 | 59,805,753 |
| CA135087K601—Feb 2022 | 1.50 | 12,000,000,000 | 57,410,056 |
| CA135087K866—May 2022 | 1.50 | 14,000,000,000 | 16,561,644 |
| CA135087TZ75—March 2021 | 10.50 | 567,361,000 | 59,572,905 |
| CA135087UE28—June 2021 | 9.75 | 286,188,000 | 27,928,883 |
| CA135087UL60—Dec 2021 | 4.25 | 8,520,689,250 | 363,310,162 |
| CA135087UM44—June 2022 | 9.25 | 206,022,000 | 19,074,487 |
| CA135087UT96—June 2023 | 8.00 | 2,358,552,000 | 188,856,948 |
| CA135087VH40—June 2025 | 9.00 | 2,133,858,000 | 207,195,562 |
| CA135087VS05—Dec 2026 | 4.25 | 8,176,770,000 | 348,647,462 |
| CA135087VW17—June 2027 | 8.00 | 3,820,841,000 | 322,765,019 |
| CA135087WL43—June 2029 | 5.75 | 10,675,378,000 | 626,083,325 |
| CA135087WV25—Dec 2031 | 4.00 | 8,681,788,000 | 348,404,570 |
| CA135087XG49—June 2033 | 5.75 | 12,058,905,000 | 706,181,057 |
| CA135087XQ21—Dec 2036 | 3.00 | 7,769,619,000 | 233,849,146 |
| CA135087XW98—June 2037 | 5.00 | 11,730,774,000 | 619,986,993 |
| CA135087YK42—Dec 2041 | 2.00 | 8,055,845,000 | 161,642,271 |
| CA135087YQ12—June 2041 | 4.00 | 13,838,441,000 | 573,581,744 |
| CA135087YR94—June, 2019 | 3.75 | – | 49,865,816 |
| CA135087YZ11—June 2020 | 3.50 | 9,533,030,000 | 382,230,656 |
| CA135087ZH04—Dec 2044 | 1.50 | 9,111,256,000 | 137,114,831 |
| CA135087ZJ69—June 2021 | 3.25 | 11,185,000,000 | 373,054,488 |
| CA135087ZS68—Dec 2045 | 3.50 | 16,300,000,000 | 574,394,591 |
| CA135087ZU15—June 2022 | 2.75 | 12,700,000,000 | 349,569,826 |
| Subtotal | 596,540,272,250 | 13,069,452,981 | |
| Less: Government's holdings and consolidation adjustment | (negative 323,829,000) | – | |
| Total | 596,864,101,250 | 13,069,452,981 | |
| Payable in foreign currencies | |||
| US135087H643—Nov 2022 | 2.00 | 4,222,800,000 | 81,784,500 |
| US135087J706—Jan 2022 | 2.63 | 4,222,800,000 | 103,849,331 |
| US135087K87—Feb 2025 | 1.625 | 4,222,800,000 | 12,961,650 |
| US716442AD02—June 2019 | 8.80 | – | 69,112 |
| XS0477543721—Jan 2020 | 3.50 | – | 79,814,019 |
| Subtotal | 12,668,400,000 | 278,478,612 | |
| Less: Government's holdings | – | 68,306 | |
| Total | 12,668,400,000 | 278,410,306 | |
| Total | 609,532,501,250 | 13,347,863,287 | |
| Retail Debt | |||
| Canada savings bonds Link to footnote 2 | |||
| S59—Apr 2019 | 0.50 | – | 2,327 |
| S60—Nov 2019 | 0.50 | – | 135,453 |
| S61—Dec 2019 | 0.50 | – | 12,471 |
| S62—Jan 2020 | 0.50 | – | 6,447 |
| S63—Feb 2020 | 0.50 | – | 3,679 |
| S64—March 2020 | 0.50 | – | 6,376 |
| S65—Apr 2020 | 0.50 | 909,875 | 6,330 |
| S119—Apr 2019 | 0.50 | – | 7,558 |
| S120—Nov 2019 | 0.50 | – | 226,196 |
| S121—Dec 2019 | 0.50 | – | 20,278 |
| S122—Jan 2020 | 0.50 | – | 5,939 |
| S123—Feb 2020 | 0.50 | – | 4,824 |
| S124—March 2020 | 0.50 | – | 6,252 |
| S125—Apr 2020 | 0.50 | 1,089,000 | 5,645 |
| S126—Nov 2020 | 0.50 | 84,389,616 | 525,987 |
| S127—Dec 2020 | 0.50 | 8,007,858 | 45,626 |
| S128—Nov 2021 | 0.50 | 110,163,827 | 616,642 |
| S129—Dec 2021 | 0.50 | 6,498,190 | 47,107 |
| S134—Nov 2019 | 0.50 | – | 1,045,044 |
| S500—Nov 2021 | 0.50 | 14,488,522 | 89,601 |
| S501—Nov 2021 | 0.50 | 24,156,046 | 20,437 |
| S502—Nov 2021 | 0.50 | 25,159,652 | 21,291 |
| S936—Nov 2020 | 0.50 | 78,871 | 33 |
| S937—Nov 2020 | 0.50 | 96,351 | 40 |
| S938—Nov 2020 | 0.50 | 361,132 | – |
| Others—various | various | – | 1,496,812 |
| Total | 275,398,940 | 4,358,395 | |
| Canada premium bonds Link to footnote 2 | |||
| P8—Apr 2019 | 0.80 | – | 35,024 |
| P9—Nov 2019 | 1.10 | – | 349,953 |
| P10—Dec 2019 | 1.25 | – | 125,178 |
| P11—Jan 2020 | 1.25 | – | 55,447 |
| P12—Feb 2020 | 1.25 | – | 45,583 |
| P13—March 2020 | 1.25 | – | 100,306 |
| P14—Apr 2020 | 1.25 | 6,053,220 | 116,991 |
| P69—Apr 2019 | 0.80 | – | 18,864 |
| P70—Nov 2019 | 1.10 | – | 243,179 |
| P71—Dec 2019 | 1.25 | – | 186,578 |
| P72—Jan 2020 | 1.25 | – | 73,728 |
| P73—Feb 2020 | 1.25 | – | 71,437 |
| P74—March 2020 | 1.25 | – | 56,762 |
| P75—Apr 2020 | 1.25 | 4,804,183 | 59,520 |
| P76—Nov 2020 | 1.00-1.30 | 36,923,059 | 481,118 |
| P77—Dec 2020 | 1.00-1.30 | 28,246,899 | 363,379 |
| P78—Nov 2021 | 0.90-1.00 | 47,818,354 | 518,557 |
| P79—Dec 2021 | 0.90-1.00 | 22,513,330 | 250,506 |
| P88—Nov 2019 | 1.00 | – | 482,243 |
| P89—Dec 2019 | 1.00 | – | 202,530 |
| P550—Nov 2021 | 0.9-1.00 | 24,226,647 | 259,000 |
| P551—Nov 2021 | 0.9-1.00 | 1,068,094 | 11,609 |
| P552—Nov 2021 | 1.10-1.20 | 22,532,154 | 45,510 |
| P553—Dec 2021 | 1.35 | 2,142,912 | – |
| P554—Nov 2021 | 1.30 | 20,485,758 | 44,856 |
| P555—Nov 2021 | 1.30 | 1,291,928 | 2,847 |
| P986—Nov 2020 | 1.30 | 517,928 | 598 |
| P987—Nov 2020 | 1.30 | 624,681 | 716 |
| P988—Nov 2020 | 1.30 | 2,571,795 | – |
| Others—various | various | – | 1,387,225 |
| Total | 221,820,942 | 5,589,244 | |
| Total | 497,219,882 | 9,947,639 | |
| Medium-term notes | |||
| Payable in foreign currencies | |||
| US135087C289—Dec 2019 | 1.85 | – | 850,877 |
| US135087C362—Dec 2019 | floating | – | 1,113,899 |
| US135087C446—Dec 2020 | 2.30 | 70,380,000 | 1,545,293 |
| US135087D436—June 2020 | floating | 140,760,000 | 2,918,547 |
| US135087D766—Sept 2020 | floating | 351,900,000 | 7,296,366 |
| US135087D840—Sept 2020 | floating | 70,380,000 | 1,464,191 |
| US135087E83—Aug 2021 | floating | 70,380,000 | 1,504,451 |
| US135087E913—Aug 2019 | 1.45 | – | 389,666 |
| US135087F415—Feb 2020 | 1.28 | – | 2,198,114 |
| US135087F746—July 2019 | floating | – | 1,620,344 |
| US135087G249—Sept 2019 | floating | – | 1,449,795 |
| US135087G579—Jan 2020 | floating | – | 6,097,202 |
| XS1046844590—March 2020 | floating | – | 3,774,897 |
| XS1065374024—May 2020 | floating | 175,950,000 | 3,752,281 |
| XS1168167333—Jan 2021 | 0.15 | 232,830,000 | 330,054 |
| Total | 1,112,580,000 | 36,305,977 | |
| Total interest on unmatured debt | 611,142,301,132 | 13,394,116,903 | |
| Amortization of discounts on Treasury bills | |||
| Amortization of discounts on 2018–2019 issues | – | 744,568,783 | |
| Amortization of discounts on 2019–2020 issues | 151,867,000,000 | 1,502,661,185 | |
| Total | 151,867,000,000 | 2,247,229,968 | |
| Amortization of discounts on Canada bills | |||
| Amortization of discounts on 2018–2019 issues | – | 8,337,187 | |
| Amortization of discounts on 2019–2020 issues | 2,159,673,642 | 47,352,405 | |
| Total | 2,159,673,642 | 55,689,592 | |
| Total | 154,026,673,642 | 2,302,919,560 | |
| Amortization of discounts and premiums on marketable bonds | – | 971,930,135 | |
| Amortization of discounts and premiums on real return bonds | – | (negative 122,006,279) | |
| Amortization of discounts and premiums on foreign bonds | – | 4,244,127 | |
| Consumer price index adjustments on real return bonds | – | 1,491,933,686 | |
| Total | – | 2,346,101,669 | |
| Total amortization of premiums and discounts on other debts | 154,026,673,642 | 4,649,021,229 | |
| Cross-currency swap revaluation | various | 10,592,217,622 | (negative 216,313,790) |
| Servicing costs and costs of issuing new borrowings | various | – | 10,166,080 |
| Unamortized discounts and premiums on market debt | various | 2,486,918,067 | – |
| Interest on capital lease obligations | various | 2,912,899,392 | 164,866,342 |
| Interest on obligations under public-private partnerships | various | 2,590,029,904 | 99,344,319 |
| Total public debt charges related to unmatured debt | 783,751,039,759 | 18,101,201,083 | |
| Pension and other future benefits (interest) | |||
| Public sector pensions | |||
| Canadian Forces Pension Fund Account | various | 126,049,325 | – |
| Canadian Forces Superannuation Account | various | 44,741,718,117 | 1,681,327,281 |
| Members of Parliament Retirement Compensation Arrangements Account | various | 201,024,276 | 6,773,423 |
| Members of Parliament Retiring Allowances Account | various | 560,954,167 | 17,789,464 |
| Public Service Pension Fund Account Link to footnote 3 | various | – | – |
| Public Service Superannuation Account | various | 91,516,183,543 | 3,410,432,517 |
| Reserve Force Pension Fund Account Link to footnote 3 | various | – | – |
| Retirement Compensation Arrangements Account | |||
| RCA No. 1—Canadian Forces | various | 460,437,158 | 16,856,237 |
| RCA No. 1—Public Service | various | 1,314,790,678 | 47,240,725 |
| RCA No. 1—Royal Canadian Mounted Police | various | 35,377,878 | 1,304,107 |
| RCA No. 2—Public Service | various | 627,939,260 | 23,374,139 |
| Royal Canadian Mounted Police Pension Fund Account Link to footnote 3 | various | – | – |
| Royal Canadian Mounted Police Superannuation Account | various | 13,620,704,204 | 470,927,017 |
| Supplementary Retirement Benefits Account (Judges) | various | 258,108,691 | 3,451,490 |
| Supplementary Retirement Benefits Account (Others) | various | 1,012,710 | 14,156 |
| Total | 153,464,300,007 | 5,679,490,556 | |
| Allowance for pension adjustments Link to footnote 4 | various | 15,029,000,000 | (negative 2,791,000,000) |
| Consolidated Crown corporations and other entities Link to footnote 3, Link to footnote 4 | various | 103,291,000 | (negative 204,547,000) |
| Total | 168,596,591,007 | 2,683,943,556 | |
| Other employee and veteran future benefits | |||
| Public Service Health Care Plan and Pensioners' Dental Service Plan | 35,766,000,000 | 746,000,000 | |
| Royal Canadian Mounted Police disability and other future benefits | 11,565,000,000 | 385,000,000 | |
| Severance and other benefits | 1,754,000,000 | 35,000,000 | |
| Accumulated sick leave entitlements | 1,924,000,000 | 32,000,000 | |
| Veterans' disability and other future benefits | 73,462,000,000 | 2,157,000,000 | |
| Worker's compensation | 1,566,000,000 | 31,000,000 | |
| Consolidated Crown corporations and other entities | 340,621,000 | 8,456,000 | |
| Total | various | 126,377,621,000 | 3,394,456,000 |
| Total public debt charges related to pension and other future benefits | 294,974,212,007 | 6,078,399,556 | |
| Other liabilities | |||
| Canada Pension Plan (net of securities held by the Canada Pension Plan Investment Fund) | various | 278,626,259 | 5,472,143 |
| Government Annuities Account | various | 114,761,241 | 6,141,971 |
| Deposit accounts | |||
| Canada Development Investment Corporation | |||
| Holdback—Privatization | various | 12,271,451 | 180,346 |
| Canada Hibernia Holding Corporation | |||
| Abandonment reserve fund | various | 101,904,810 | 1,497,635 |
| Interest for railway accidents | various | – | 637,686 |
| Canada Labour Code—Wage Recovery Appeals | various | 3,939,438 | 60,501 |
| Swap collateral deposit | 151,954,787 | – | |
| Contractors' security deposits | various | 7,593,761 | 166,352 |
| General security deposits | various | 7,975,488 | – |
| Non-interest bearing accounts | 412,910,382 | – | |
| Total | 698,550,117 | 2,542,520 | |
| Trust accounts | |||
| Administered trust accounts | various | 256,000 | 3,591 |
| Agri-Invest Kickstart | – | 115,125 | |
| Canadian Security Intelligence Service | |||
| Scholastic awards | various | 26,487 | 397 |
| Correctional Service of Canada | |||
| Inmates' trust fund | various | 17,500,199 | 6,357 |
| Estates fund | various | 1,012,630 | – |
| Indian band funds | various | 543,972,028 | 9,105,641 |
| Indian estate accounts | various | 31,083,977 | 438,564 |
| Indian savings accounts | various | 23,126,274 | 374,831 |
| Interest - Indian Residential Schools | various | 15,367,267 | 233,952 |
| Royal Canadian Mounted Police—Benefit trust fund | various | 2,470,155 | 36,017 |
| Veterans administration and welfare trust fund | various | 1,012,630 | 15,060 |
| Non-interest bearing accounts | 247,699 | – | |
| Total | 636,075,346 | 10,329,535 | |
| Total deposit and trust accounts | 1,334,625,463 | 12,872,055 | |
| Other specified purpose accounts | |||
| Insurance and death benefit accounts | |||
| Public Service death benefit account | various | 3,880,168,916 | 140,761,844 |
| Regular forces death benefit account | various | 172,222,899 | 6,656,375 |
| Non-interest bearing accounts | 1,961,860 | – | |
| Total | 4,054,353,675 | 147,418,219 | |
| Pension accounts | |||
| Annuities agents' pension account | various | – | – |
| Locally engaged contributory pension account | various | 80,566 | – |
| Royal Canadian Mounted Police Dependants' pension fund | various | 10,905,126 | 443,226 |
| Total | 10,985,692 | 443,226 | |
| Other accounts | |||
| AgriInvest Program | various | 3,974,455 | – |
| AgriStability Program | various | 52,386,564 | – |
| Common school funds—Ontario and Quebec | 5.00 | 2,677,771 | 133,889Link to footnote 5 |
| Courts Administration Service Special account | various | 5,430,687 | 77,868 |
| Indian moneys suspense account | various | 42,035,592 | 682,516 |
| Non-interest bearing accounts | various | 150,752,828 | – |
| Total | 257,257,897 | 894,273 | |
| Deferred revenue specified purpose accounts Link to footnote 6 | |||
| Shared-cost agreements—Research—Agriculture | various | – | 146,171 |
| Social Sciences and Humanities Research Council—Trust fund | various | – | 1,569 |
| Total other specified purpose accounts | 4,322,597,264 | 148,903,458 | |
| Other liabilities—Special drawing rights allocations | various | –Link to footnote 7 | 94,079,101 |
| Total public debt charges related to other liabilities | 6,050,610,227 | 267,468,728 | |
| Consolidated specified purpose accounts (interest) | |||
| The National Battlefields Commission—Trust fund | various | 1,308,432 | 14,208 |
| Ship-Source Oil Pollution Fund | various | 411,993,318 | 5,196,197 |
| Mackenzie King trust account | various | 225,000 | 3,308 |
| Endowments for health research | various | 75,000 | 39,615 |
| Social Sciences and Humanities Research Council Queen's Fellowship fund | various | 250,000 | 2,639 |
| Non-interest bearing accounts | 4,883,084,663 | – | |
| Total public debt charges related to consolidated specified purpose accounts | 5,296,936,413 | 5,255,967 | |
| Total public debt charges before consolidation adjustment | 1,090,072,798,406 | 24,452,325,334 | |
| Accumulated consolidation adjustments (current year transactions are shown with the revenues and expenditures of the Government) | (negative 5,296,936,413) | (negative 5,255,967) | |
| Total public debt charges | 1,084,775,861,993 | 24,447,069,367 | |
| Comprised of: | |||
| Total public debt charges under statutory authorities before accrual and other adjustments and consolidation adjustments | 23,789,205,673 | ||
| Accrual and other adjustments | 663,119,661 | ||
| Consolidation adjustments | (negative 5,255,967) | ||
| Total public debt charges | 24,447,069,367 | ||
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