Canada Savings Bond

Then-finance minister Ralph Goodale rejected the recommendation as the program remained popular, especially with first-time investors, and opted to have the program changed to be more competitive and attract investors.

Despite this recommendation, the Department of Finance ruled out cancellation despite the program's estimated $58 million annual cost.

On March 22, 2017, the federal budget announced its decision to end the sale of new CSBs, saying they would be discontinued in 2017.

These bonds, introduced in 1997, differ from the regular savings bonds in that they were sold with a higher interest rate fixed through the third year; the interest rate would fluctuate for the remaining 7 years with market conditions until its maturity.

This greater interest rate stability was considered a premium feature.