Government of Canada - Department of Finance
Skip all menus (access key: 2) Skip first menu (access key: 1)
Menu (access key: M)
Français
Contact Us
Help
Search
Canada site
Home
What's New
Site Map
Glossary
HotLinks
About Us
FAQ
Media Room
Publications
Legislation
Budget Information
Economic & Fiscal Information
Financial Institutions and Markets
International Issues
Social Issues
Taxes & Tariffs
Transfer Payments to Provinces

 

Media Room - News Releases
FTP SiteNotices to MediaSpeeches

Ottawa, March 5, 2001
2001-022

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$139 million during February to US$32,692 million.

Details on the level and composition of Canada's reserves as of February 28, 2001, 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 24,329
Deposits 5,002
Gold1 310
Special drawing rights (SDRs) 587
Reserve position in the IMF  2,464
Total:   February 28, 2001 32,692
January 31, 2001 32,553
Net change +139
Details of Net Change
Foreign currency debt2 -28
Gains and losses on gold sales 1
Net investment gains and losses
     Return on investments3 214
     Foreign currency debt charges -121
     Revaluation effects -108
Net government operations4 181
Official intervention 0
Other transactions 0
Net change +139
Details on Deposits
Other central banks/Bank for International Settlements 884
Banks headquartered in Canada 403
          of which: located abroad 303
Banks headquartered abroad 3,715
          of which: located in Canada 401
Total 5,002
Currency Composition of Deposits and Securities
          US dollars 21,942
          Euro 6,853
          Yen 531
          Other 5
Total 29,331
Predetermined Short-Term Drains on Foreign Currency Reserves (Nominal Value)
0-1
month		 1-3
months		 3-12
months		 Total
Foreign currency securities5 Principal -1,764 -1,593 -3,221 -6,578
Interest -119 -139 -1,240 -1,498
Aggregate short forward positions in foreign currencies vis-à-vis Canadian dollar
-875
-321
-290
-1,486
Aggregate long forward positions in foreign currencies vis-à-vis Canadian dollar
    0
    0
    0
    0
Total net drains -2,758 -2,053 -4,751 -9,562
Additional Items (Nominal Value)
Undrawn, unconditional credit lines with banks headquartered outside Canada 6,000
Securities lent under repurchase agreements6 -1,363
Securities held under repurchase agreements7 97
Financial derivatives assets (net, marked to market)
     Forwards -19
     Swaps -507
Notes:
  1. Sales of 20,000 ounces of gold settled in February. On February 28, gold holdings stood at 1.2 million ounces. The valuation is based on the February 28, 2001, London p.m. fix of US$266.70 per ounce.
  2. During February Canada Bills decreased by US$74 million to a level of outstanding bills of $4,037 million. Cross-currency swaps of domestic obligations raised US$46 million equivalent.
  3. "Return on investments" comprises US$112 million of interest earned on investments and a US$102-million increase in the market value of securities resulting from changes in interest rates.
  4. "Net government operations" are the net purchases of foreign currency for government foreign exchange requirements and for additions to reserves.
  5. "Foreign currency securities" include maturities of foreign currency debt, cross-currency swap payments and an estimate of interest payments on foreign currency liabilities.
  6. Securities lent under repurchase agreements are included in total reserves. Collateral provided in securities lending transactions is not included in total reserves.
  7. 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 April 4, 2001 (covering the period March 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
position		 Total
(millions of US dollars)
February 28, 2001 21,942 7,389 310 587 2,464 32,692
January 31, 2001 21,707 7,380 313 572 2,581 32,553
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
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
Last Updated: 2004-02-03

Top

Important Notices