DCHP-3

Canada Savings Bond

DCHP-2 (Mar 2016)

Spelling variants:
CSB

n. — Finance

a bond issued by the Bank of Canada.

Type: 1. Origin — Canada Savings Bonds were first issued in 1946, replacing Victory Bonds (see the second 1946 quotation). Their traditional 10-year term of maturity was shortened to 3 years in 2012, when a number of other product changes occurred. See also Canada Savings Bonds reference.
See also COD-2, s.v. "Canada Savings Bond".
See: CSB

Quotations

1946
The 2.75 per cent yield on the Canada Savings Bond makes it a slightly better investment than the nearest comparable Dominion of Canada bond, 3 per cent maturing 1959 and callable 1936.
1946
The issue of War Savings Certificates and Stamps to the general public will be discontinued on September 30th, and final instalments on the last Victory Bond issue will have been completed in the near future. Canada Savings Bonds, therefore, will provide an opportune means for citizens to carry on their regular savings habits without interruption.
1958
From the point of view of the Government and the Bank of Canada, the Canada Savings Bond is the ideal way to raise the Federal funds necessary to meet this year's deficit without feeding inflationary pressures. The banks cannot buy the bonds for their portfolios and sales are limited, as they were last year, to $10,000 per individual.
1968
The new Canada Savings Bond rate of 6.75 per cent, if held to maturity, compares with the recent U.S. Savings Bond rate of 4.25 per cent. The spread between these two rates is out of line with the historical spread and indicates the degree of sophistication coming into the Canada Savings Bond market.
1977
Mr. Tharby cashed in all but $200 of his Canada Savings Bonds last September to pay an unexpected repair bill of $900 on his furnace.
1989
For example, if you cash a CSB before owning it three months, you forego all interest. As a result, CSBs can be compared to three-month Treasury Bills also issued by Ottawa.
1997
The lame results of this year's Canada Savings Bond campaign were used yesterday as a launching pad for news that the federal government will develop a new family of CSB-like investments.
2008
Such investments could include, for example, guaranteed investment certificates, publicly traded stocks, corporate bonds, Canada Savings Bonds and mutual funds.
2013
How and where you choose to save often depends on the length of your goal. Cash and cash equivalents provide low-risk investment and easy access to your money. Such products include a high-interest savings account, Guaranteed Investment Certificate (GIC) and Canada Savings Bond, among others.
2016
Most of their wealth is in real estate -- aside from about $90,000 in GICs and Canada Savings Bonds. Besides their home, they own two investment properties: a rental, and a fixer-upper they hope to sell. The total market value of all properties is almost $1 million.

References