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Finance committee  What I have in front of me.... I don't have the growth in debt. I have the gross issuance. Is that of value to you informationally?

December 8th, 2020Committee meeting

Soren Halverson

December 8th, 2020Committee meeting

Soren Halverson

Finance committee  I think Nick has said it. The government uses the bank as its fiscal agent, and as it puts together the debt management strategy, as it undertakes consultations with the market, it works with the bank on that aspect of the plan and questions around debt management.

December 8th, 2020Committee meeting

Soren Halverson

Finance committee  I'd ask a question of clarification, if I might. Is it more on debt management or more on the matters that my colleague Mr. Leswick was surfacing around the fiscal plan?

December 8th, 2020Committee meeting

Soren Halverson

Finance committee  The Bank of Canada works as our agent. They provide us with intelligence in terms of what they are hearing from the market. Our officers work in conjunction with theirs on consultations.

December 8th, 2020Committee meeting

Soren Halverson

Finance committee  I can offer an answer.

December 8th, 2020Committee meeting

Soren Halverson

Finance committee  I'm not sure it's as good as yours. Essentially what I can point to is that the maximum point in the data that I've seen in terms of federal debt charges would have been in the early nineties, and at that time you were looking at a multiple of six times what we have today. It was

December 8th, 2020Committee meeting

Soren Halverson

Finance committee  Those are the debt charges that we are paying today on the debt that is currently being issued, which would include the debt that was issued to support the government's COVID-related activities.

December 8th, 2020Committee meeting

Soren Halverson

Finance committee  It's Soren Halverson from the financial sector policy branch. Thank you for the question. The answer to that question is a little more complicated than it would appear to be, in the sense that you have a debt stock, and it depends on how the debt matures.

December 8th, 2020Committee meeting

Soren Halverson

Finance committee  At a very high level, just to do an abstraction of that, you've got about $1 trillion in debt, and so you're looking, on a steady-state basis, at 1% of $1 trillion.

December 8th, 2020Committee meeting

Soren Halverson

Finance committee  If the question is focused on federal debt management, the answer is that the approach the department takes in terms of providing advice on debt management strategy is looking at a range of scenarios. It's an approach that is robust under a range of different interest rate condit

December 8th, 2020Committee meeting

Soren Halverson

Finance committee  You are looking at a multiple between 450% to 600% increase, if you're looking at the 10- or 30-year issues right now, year on year from where they were last year. Those are big increments of debt going into specific sectors. If you were to maintain that, if you kept doing that f

December 8th, 2020Committee meeting

Soren Halverson

Government Operations committee  I can tell you that this program was designed in conjunction with the Canada Mortgage and Housing Corporation. It involved market research undertaken by the CMHC as part of the fact base that went into constructing and sizing the program.

June 16th, 2020Committee meeting

Soren Halverson

Government Operations committee  The program was initially made available on May 25. My understanding is that the funds started to flow on June 1. I think it would be suitable to pose the question to CMHC to be tracking the trajectory of applications, but my understanding is that the trajectory is increasing as

June 16th, 2020Committee meeting

Soren Halverson

Government Operations committee  I do have that information at my fingertips somewhere here, so—

June 16th, 2020Committee meeting

Soren Halverson