Français	Contact Us	Help	Search	Canada site

Home	What's New	Site Map	Glossary	HotLinks

About Us	FAQ	Media Room	Publications	Legislation

Ottawa, January 4, 2001
2001-002

Official International Reserves

- Official International Reserves 2001 -

The Department of Finance announced today that Canada's official international reserves increased by an amount equivalent to US$1,269 million during December to US$32,246 million.

Details on the level and composition of Canada's reserves as of December 31, 2000, 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.

Foreign Currency Reserves

Securities		24,733
Deposits		4,108
Gold¹		323
Special drawing rights (SDRs)		574
Reserve position in the IMF		2,508
Total:	December 31, 2000	32,246
	November 30, 2000	30,977*
Net change		+1,269
Details of Net Change
Foreign currency debt²		655
Gains and losses on gold sales		0
Net investment gains and losses
Return on investments³		441
Foreign currency debt charges		-186
Revaluation effects		371
Net government operations⁴		-12
Official intervention		0
Other transactions		0
Net change		+1,269
Details on Deposits
Other central banks/Bank for International Settlements		290
Banks headquartered in Canada		503
of which: located abroad		302
Banks headquartered abroad			3,315
of which: located in Canada		402	____
Total			4,108
Currency Composition of Deposits and Securities
US dollars		21,692
Euro		6,620
Yen		523
Other		6
Total		28,841

* Please note the change in the total foreign currency reserves figure for November 30, 2000. The US$100-million decrease is due to reconciliation of the reserve position in the IMF.

Predetermined Short-Term Drains on Foreign Currency Reserves (Nominal Value)
	0-1 month	1-3 months	3-12 months	Total
Foreign currency securities⁵
Principal	-2,171	-1,451	-2,671	-6,293
Interest	-115	-254	-1,266	-1,635
Aggregate short forward positions in foreign currencies vis-à-vis Canadian dollar	-1,261	-225	0	-1,486
Aggregate long forward positions in foreign currencies vis-à-vis Canadian dollar	0	0	0	0
Total net drains	-3,547	-1,930	-3,937	-9,414

Additional Items (Nominal Value)
Undrawn, unconditional credit lines with banks headquartered outside Canada		6,000
Securities lent under repurchase agreements⁶		-2,217
Securities held under repurchase agreements⁷		395
Financial derivatives assets (net, marked to market)
Forwards		+23
Swaps		-362

Notes:
There were no sales of gold in December. On December 31, gold holdings stood at 1.2 million ounces. The valuation is based on December 31, 2000, London p.m. fix of US$272.65 per ounce. During December, Canada bills increased by US$478 million to a level of outstanding bills of $3,776 million. Cross-currency swaps of domestic obligations raised US$177 million equivalent. "Return on investments" comprises US$106 million of interest earned on investments and a US$335-million increase in the market value of securities resulting from changes in interest rates. "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.

Future Release Dates

The next release is February 5, 2001 (covering the period January 2001).

A list of upcoming release dates is posted on the Department of Finance Web site located at: www.fin.gc.ca/invest_x/releaseDates_e.asp

___________________
For further information:

Nigel Stephens
Financial Markets Division
(613) 943-1944

Jean-Michel Catta
Public Affairs and Operations Division
(613) 996-8080

If you would like to receive automatic e-mail notification of all news releases, please visit the Department of Finance Canada Web site at http://www.fin.gc.ca/scripts/register_e.asp

Official International Reserves (10-Year Synopsis)

	US dollars	Other currencies	Gold	SDRs	IMF	Total*


	(millions of US dollars)
December 31, 2000	21,692	7,149	323	574	2,508	32,246
November 30, 2000	21,324	6,513	319	565	2,256	30,977
October 31, 2000	21,230	6,137	313	546	2,292	30,518
September 30, 2000	21,163	6,307	324	554	2,325	30,673
August 31, 2000	21,197	6,159	328	557	2,337	30,578
July 31, 2000	20,645	6,173	344	543	2,517	30,222
June 30, 2000	20,326	6,277	358	553	2,646	30,160
May 31, 2000	19,862	6,100	364	545	2,612	29,483
April 30, 2000	21,066	5,839	387	526	2,616	30,434
March 31, 2000	21,020	6,089	411	537	3,050	31,107
February 29, 2000	20,091	5,773	457	534	3,032	29,887
January 31, 2000	19,353	5,600	466	519	3,031	28,969

Dec. 31, 1999	18,838	5,594	524	526	3,164	28,646
Dec. 31, 1998	15,907	4,004	122	1,097	2,297	23,427
Dec. 31, 1997	14,630	492	146	1,126	1,575	17,969
Dec. 31, 1996	17,521	507	155	1,168	1,227	20,578
Dec. 31, 1995	12,127	502	178	1,177	1,243	15,227
Dec. 31, 1994	9,693	526	199	1,148	910	12,475
Dec. 31, 1993	9,950	521	292	1,064	949	12,776
Dec. 31, 1992	7,864	1,518	478	1,039	1,010	11,909
Dec. 31, 1991	9,440	4,639	649	1,582	592	16,901
Dec. 31, 1990	11,476	4,326	735	1,526	517	18,581
Dec. 31, 1989	11,489	2,661	741	1,377	528	16,796

* Please note that the total official international reserves figures for April to November 2000 have been restated due to reconciliation of the reserve position in the IMF.



		Last Updated: 2004-02-03			Important Notices