|
|
Release at 8:15 a.m. EST Ottawa, December 5, 2001 2001-115 Official International Reserves - Official
International Reserves 2001 -
The Department of Finance announced today that
Canada’s official international reserves decreased by an amount equivalent
to US$370 million during November to US$34,585 million.
Details on the level and composition of Canada’s reserves as of November 30, 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 |
26,116 |
Deposits |
4,621 |
Gold1 |
305 |
Special drawing rights (SDRs) |
619 |
Reserve position in the IMF |
2,924 |
Total: |
November 30, 2001 |
34,585 |
|
October 31,
2001 |
34,955 |
Net change |
-370 |
Details on Deposits
|
Other central banks/Bank for
International Settlements |
650 |
Banks headquartered in Canada |
725 |
Of which: located abroad |
600 |
|
Banks headquartered abroad |
|
3,246 |
Of which: located in Canada |
502 |
|
Total |
4,621 |
Details of Net Change |
|
Foreign currency debt2 |
-34 |
Gains and losses on gold sales |
0 |
Net investment gains and losses |
|
Return on investments3 |
-86 |
Foreign currency debt
charges |
-158 |
Revaluation effects |
-91 |
Net government operations4 |
85 |
Official intervention |
0 |
Other transactions5 |
-86 |
Net change |
-370 |
Currency Composition of
Deposits and Securities |
|
US dollars |
20,067 |
Euro |
9,755 |
Yen |
910 |
Other |
5 |
Total |
30,737 |
|
Predetermined
Short-Term Drains on Foreign Currency Reserves (Nominal Value) |
|
0-1
month |
1-3
months |
3-12
months |
Total |
|
Foreign currency securities6 |
Principal |
-1,359 |
-1,679 |
-3,136 |
-6,174 |
Interest |
-99 |
-199 |
-975 |
-1,273 |
Aggregate short forward positions in foreign
currencies vis-à-vis Canadian dollar |
-550 |
-916 |
0 |
-1,466 |
Aggregate long forward positions in foreign
currencies vis-à-vis Canadian dollar |
0 |
0 |
0 |
0 |
Total net drains |
-2,008 |
-2,794 |
-4,111 |
-8,913 |
|
Additional Items (Nominal Value) |
Undrawn, unconditional credit lines with
banks headquartered outside Canada |
6,000 |
|
|
Securities lent under repurchase agreements7 |
-827 |
|
|
Securities held under repurchase agreements8 |
101 |
|
|
Financial derivatives assets
(net, marked to market) |
|
|
|
Forwards |
14 |
|
|
Swaps |
-358 |
|
|
|
Notes:
- There were no sales of gold in November. On November 30, gold
holdings stood at 1.1 million ounces. The valuation is based
on the November 30, 2001, London p.m. fix of US$275.50 per ounce.
- During November Canada bills decreased by US$299 million to a
level of outstanding bills of US$3,259 million. Cross-currency
swaps of domestic obligations raised US$265 million equivalent.
- "Return on investments" comprises US$106 million of
interest earned on investments and a US$192-million decrease 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.
- Due to a decrease in the reserve position in the IMF related to
IMF lending operations.
- "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 January 4, 2002 (covering the period December 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) 992-7763 |
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) |
November 30, 2001 |
20,067 |
10,670 |
305 |
619 |
2,924 |
34,585 |
October 31, 2001 |
20,479 |
10,520 |
308 |
610 |
3,038 |
34,955 |
September 30, 2001 |
20,017 |
10,187 |
335 |
616 |
3,064 |
34,219 |
August 31, 2001 |
21,658 |
9,874 |
312 |
615 |
2,571 |
35,030 |
July 31, 2001 |
21,619 |
9,012 |
309 |
588 |
2,276 |
33,804 |
June 30, 2001 |
21,465 |
8,401 |
315 |
582 |
2,252 |
33,015 |
May 31, 2001 |
21,871 |
8,085 |
311 |
586 |
2,408 |
33,261 |
April 30, 2001 |
21,940 |
8,018 |
306 |
575 |
2,368 |
33,207 |
March 31, 2001 |
22,407 |
7,830 |
300 |
573 |
2,403 |
33,513 |
February 28, 2001 |
21,942 |
7,608 |
310 |
587 |
2,464 |
32,911 |
January 31, 2001 |
21,709 |
7,663 |
313 |
572 |
2,581 |
32,838 |
December 31, 2000 |
21,692 |
7,327 |
323 |
574 |
2,508 |
32,424 |
November 30, 2000 |
21,324 |
6,613 |
319 |
565 |
2,256 |
31,077 |
|
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 |
|