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Release at 8:15 a.m. EDT Ottawa, April 4, 2002 2002-029
Official International Reserves
- Official International Reserves 2002 -
The Department of Finance announced today that Canada’s official international reserves decreased by an amount equivalent to US$151 million during March to US$34,029 million.
Details on the level and composition of Canada’s reserves as of March 31, 2002, 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 |
27,298 |
Deposits |
2,876 |
Gold1 |
288 |
Special drawing rights (SDRs) |
621 |
Reserve position in the IMF |
2,946 |
Total: |
March 31, 2002 |
34,029 |
|
February 28,
2002 |
34,180 |
Net change |
-151 |
Details on Deposits |
Other central banks/Bank for International Settlements |
213 |
Banks headquartered in Canada |
300 |
Of which: located abroad |
0 |
|
Banks headquartered abroad |
2,363 |
Of which: located in Canada |
400 |
|
Total
|
2,876 |
Details of Net Change
|
|
Foreign currency debt2
|
128 |
Gains and losses on gold sales
|
0 |
Net investment gains and losses
|
|
Return on investments3
|
-229 |
Foreign currency debt charges
|
-93 |
Revaluation effects
|
47 |
Net government operations4
|
1 |
Official intervention
|
0 |
Other transactions5
|
-5 |
Net change
|
-151 |
Currency Composition of Deposits and Securities
|
|
US dollars
|
18,495 |
Euro
|
10,828 |
Yen
|
846 |
Other
|
5 |
Total
|
30,174 |
|
Predetermined Short-Term Drains on Foreign Currency Reserves
(Nominal Value) |
|
0-1
month |
1-3
months |
3-12
months |
Total |
|
Foreign currency securities6 |
Principal |
-1,023 |
-1,201 |
-5,121 |
-7,345 |
Interest |
-50 |
-277 |
-1,017 |
-1,344 |
Aggregate short forward positions in foreign
currencies vis-à-vis Canadian dollar |
-301 |
-1,165 |
0 |
-1,466 |
Aggregate long forward positions in foreign
currencies vis-à-vis Canadian dollar |
0 |
0 |
0 |
0 |
Total net drains |
-1,374 |
-2,643 |
-6,138 |
-10,155 |
|
Additional Items (Nominal Value) |
Undrawn, unconditional credit lines with
banks headquartered outside Canada |
6,000 |
|
|
Securities lent under repurchase agreements7 |
-512 |
|
|
Securities held under repurchase agreements8 |
107 |
|
|
Financial derivatives assets (net, marked to market) |
|
|
|
Forwards |
-4 |
|
|
Swaps |
-631 |
|
|
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Notes: |
-
There were no sales of gold settled in March. On March 31 gold
holdings stood at 1.0 million ounces. The valuation is based on
the March 31, 2002, London p.m. fix of US$301.40 per ounce.
-
During March Canada bills decreased by US$375 million to a level of
outstanding bills of US$2,105 million. Cross-currency swaps of
domestic obligations raised US$503 million equivalent.
-
"Return on investments" comprises US$99 million of
interest earned on investments and a US$328-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.
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"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.
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Future Release Dates
The next release is May 3, 2002 (covering the period April 2002). 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) |
March 31, 2002 |
18,495 |
11,679 |
288 |
621 |
2,946 |
34,029 |
February 28, 2002 |
19,051 |
11,308 |
284 |
619 |
2,918 |
34,180 |
January 31, 2002 |
19,147 |
10,767 |
297 |
607 |
2,826 |
33,644 |
December 31, 2001 |
19,748 |
10,736 |
291 |
614 |
2,859 |
34,248 |
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 |
|
Dec. 31, 2000 |
21,692 |
7,327 |
323 |
574 |
2,508 |
32,424 |
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 |
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