Ottawa, June 5, 2013
Archived - Official International Reserves
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- Monthly Official International Reserves Results Archive -
The Department of Finance announced today that Canada’s official international reserves decreased by an amount equivalent to US$940 million during May to US$70,695 million.
Details on the level and composition of Canada’s reserves as of May 31, 2013, as well as the major factors underlying the change in reserves, are provided below. All figures are in millions of US dollars unless otherwise noted.
Millions of US dollars | |
---|---|
Securities | 54,773 |
Deposits | 2,882 |
Total securities and deposits (liquid reserves): | 57,655 |
Gold1 | 142 |
Special drawing rights (SDRs) | 8,499 |
Reserve position in the IMF | 4,399 |
Total: | |
May 31, 2013 | 70,695 |
April 30, 2013 | 71,635 |
Net change: | -940 |
Millions of US dollars | |
---|---|
Other central banks/Bank for International Settlements | 2,882 |
Banks headquartered in Canada | 0 |
Of which: located abroad | 0 |
Banks headquartered abroad | 0 |
Of which: located in Canada | 0 |
Total: | 2,882 |
Millions of US dollars | |
---|---|
Reserves management operations2 | 125 |
Gains and losses on gold sales | 0 |
Net investment gains and losses: | |
Return on investments3 | -598 |
Foreign currency debt charges | -78 |
Revaluation effects4 | -350 |
Net government operations5 | -39 |
Official intervention | 0 |
Other transactions | 0 |
Net change: | -940 |
Millions of US dollars | |
---|---|
US dollars | 38,787 |
Euro | 18,579 |
Yen | 289 |
Total: | 57,655 |
Millions of US dollars | |||||
---|---|---|---|---|---|
0-1 month | 1-3 months | 3-12 months | Total | ||
Foreign currency securities6: | |||||
Principal | -2,378 | -986 | -2,172 | -5,536 | |
Interest | -251 | -203 | -807 | -1,261 | |
Aggregate short forward positions in foreign currencies vis-à-vis Canadian dollar | -46 | -24 | 0 | -71 | |
Aggregate long forward positions in foreign currencies vis-à-vis Canadian dollar | 0 | 0 | 0 | 0 | |
Total net drains: | -2,676 | -1,213 | -2,979 | -6,868 |
Millions of US dollars | |
---|---|
Undrawn, unconditional credit lines with banks headquartered outside Canada | 0 |
Securities lent under repurchase agreements7 | 0 |
Securities held under repurchase agreements8 | 1,789 |
Financial derivatives assets (net, marked to market): | |
Forwards | 21 |
Swaps | 1,840 |
NOTES:
- On behalf of the Government of Canada, the Royal Canadian Mint sold 615 ounces of gold coins for settlement in May. On May 31, gold holdings stood at 101,820 ounces. The valuation is based on the May 31, 2013, London p.m. fix of US$1,394.5 per ounce.
- Net change in securities and deposits resulting from foreign currency funding activities of the Government. (Issuance of foreign currency liabilities used to acquire assets increases reserves, while maturities decrease reserves). During May, Canada bills decreased by US$299 million to a level of outstanding bills of US$2,282.5 million. A total of US$400 million of cross-currency swaps of domestic obligations was raised. In addition, an equivalent of US$24.5 million in foreign exchange swaps was transacted during the month.
- “Return on investments” comprises US$102 million of interest earned on investments and a US$700-million decrease in the market value of securities resulting from changes in interest rates.
- “Revaluation effects” reflect changes in the market value of reserve assets resulting from movements in exchange rates. In May, the revaluation effect was mainly due to the depreciation of the euro.
- “Net government operations” are the net purchases of foreign currency for government foreign exchange requirements and for additions to reserves.
- “Foreign currency securities” include maturities of foreign currency debt, cross-currency swap payments and an estimate of interest payments on foreign currency liabilities.
- “Securities lent under repurchase agreements” are included in total reserves. Collateral provided in securities lending transactions is not included in total reserves.
- Cash invested under repurchase agreements is included in total reserves. Collateral provided in securities lending transactions is not included in total reserves
Millions of US dollars | ||||||
---|---|---|---|---|---|---|
Date | US dollars | Other currencies | Gold | SDRs | IMF position | Total |
May 31, 2013 | 38,787 | 18,868 | 142 | 8,499 | 4,399 | 70,695 |
April 30, 2013 | 39,200 | 19,286 | 150 | 8,594 | 4,405 | 71,635 |
March 31, 2013 | 38,253 | 18,860 | 165 | 8,534 | 4,396 | 70,208 |
February 28, 2013 | 37,049 | 19,115 | 166 | 8,629 | 4,399 | 69,358 |
January 31, 2013 | 35,772 | 19,668 | 179 | 8,779 | 4,492 | 68,890 |
December 31, 2012 | 35,622 | 19,621 | 181 | 8,754 | 4,368 | 68,546 |
November 30, 2012 | 35,746 | 19,283 | 188 | 8,722 | 4,283 | 68,222 |
October 31, 2012 | 35,619 | 19,182 | 187 | 8,754 | 4,311 | 68,053 |
September 28, 2012 | 35,851 | 19,017 | 194 | 8,764 | 4,315 | 68,141 |
August 31, 2012 | 35,524 | 18,662 | 180 | 8,649 | 4,167 | 67,182 |
July 31, 2012 | 35,169 | 18,275 | 177 | 8,570 | 4,130 | 66,321 |
June 29, 2012 | 34,784 | 18,489 | 174 | 8,623 | 4,148 | 66,218 |
May 31, 2012 | 36,397 | 19,500 | 170 | 8,581 | 4,051 | 68,699 |
December 31, 2012 | 35,622 | 19,621 | 181 | 8,754 | 4,368 | 68,546 |
December 30, 2011 | 32,826 | 19,985 | 167 | 8,966 | 3,875 | 65,819 |
December 31, 2010 | 26,677 | 18,211 | 153 | 9,054 | 3,056 | 57,151 |
December 31, 2009 | 23,879 | 18,723 | 119 | 9,212 | 2,424 | 54,357 |
December 31, 2008 | 22,804 | 18,733 | 95 | 991 | 1,249 | 43,872 |
December 31, 2007 | 19,257 | 20,057 | 91 | 1,015 | 661 | 41,081 |
December 31, 2006 | 15,608 | 17,590 | 69 | 963 | 833 | 35,063 |
December 31, 2005 | 16,842 | 13,822 | 56 | 897 | 1,401 | 33,018 |
December 31, 2004 | 14,426 | 15,740 | 48 | 925 | 3,327 | 34,466 |
December 31, 2003 | 15,575 | 15,961 | 45 | 838 | 3,848 | 36,267 |
December 31, 2002 | 17,946 | 14,739 | 205 | 712 | 3,567 | 37,169 |
Future Release Dates
The next release is July 4, 2013 (covering the period June 2013).
For further information on the Exchange Fund Account, please consult the Report on the Management of Canada’s Official International Reserves—April 1, 2011 – March 31, 2012.
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For further information, media may contact:
Jack Aubry
Media Relations
Department of Finance
613-996-8080