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Ottawa, May 3, 2000
2000-036
Official
International Reserves
The Department of Finance announced today that Canada's official international reserves decreased by an amount equivalent to US$677 million during April to US$30,430 million.
Details on the level and composition of Canada's reserves as of April 30, 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 |
|
21,857 |
Deposits |
|
5,048 |
Gold1 |
|
387 |
Special
drawing rights (SDRs) |
|
526 |
Reserve
position in the IMF |
|
2,612 |
Total: |
April 30, 2000 |
|
30,430 |
|
March 31, 2000 |
|
31,107 |
Net change
|
|
-677 |
Details
of Net Change |
Foreign
currency debt2 |
|
-241 |
Gains and
losses on gold sales |
|
-1 |
Net
investment gains and losses |
|
|
Return on investments3
|
|
-88
|
Foreign currency debt charges
|
|
-87 |
Revaluation effects
|
|
-356 |
Net
government operations4 |
|
96 |
Official
intervention |
|
- |
Other
transactions |
|
- |
Net change
|
|
-677
|
Details
on Deposits |
Other central banks/Bank for International Settlements |
|
1,140
|
Banks
headquartered in Canada |
|
701 |
of which: located abroad
|
301
|
|
Banks
headquartered abroad |
|
3,207 |
of which: located in Canada
|
201
|
____ |
Total
|
|
5,048 |
Currency
Composition of Deposits and Securities
|
US dollars
|
|
21,066
|
Euro
|
|
5,288
|
Yen
|
|
545
|
Other
|
|
6
|
Total
|
|
26,905
|
|
Predetermined
Short-Term Drains on Foreign Currency Reserves (Nominal Value) |
|
|
0-1
month |
1-3
months |
3-12
months |
Total |
Foreign currency securities5 |
Principal |
-2,658 |
-2,423 |
-765 |
-5,846 |
|
Interest |
-136 |
-443 |
-1,235 |
-1,814 |
Aggregate
short forward positions in foreign currencies vis-à-vis Canadian dollar |
-701 |
-875 |
0 |
-1,576 |
Aggregate
long forward positions in foreign currencies vis-à-vis Canadian dollar |
40 |
20 |
0 |
60 |
Total net
drains |
-3,455 |
-3,721 |
-2,000 |
-9,176 |
|
Additional
Items (Nominal Value) |
|
|
|
|
Undrawn,
unconditional credit lines |
|
|
|
|
With
banks headquartered
in Canada |
|
1,000 |
|
|
With banks headquartered
outside Canada
|
|
6,000 |
|
|
Securities
lent under repurchase agreements6 |
|
1,599 |
|
|
Securities
held under repurchase agreements7 |
|
117 |
|
|
Financial
derivatives assets (net, marked to market)8 |
|
|
|
|
Forwards |
|
-21 |
|
|
Swaps |
|
-474 |
|
|
|
Notes: |
-
A sale of 80,000 ounces of gold settled in April. On April 30, gold holdings stood at
1.4 million ounces. The valuation is based on April 30, 2000, London p.m. fix of US$275.05
per ounce.
-
During April, Canada bills decreased by US$317 million, to a level of outstanding bills
of US$3,828 million. Cross-currency swaps of domestic obligations raised US$76 million
equivalent.
-
"Return on investments" comprises US$109 million of interest earned on
investments and a US$197-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.
-
"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 June 5, 2000 (covering the period May 2000).
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: Michael Keenan
Financial Markets Division
(613) 992-4013
Jean-Michel Catta Public Affairs and Operations Division (613) 996-808
Official International Reserves (10-Year Synopsis)
|
|
US
dollars |
Other
currencies |
Gold |
SDRs |
IMF
position |
Total |
|
|
(millions of US dollars) |
April 30, 2000 |
21,066 |
5,839 |
387 |
526 |
2,612 |
30,430 |
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 |
December 31, 1999 |
18,838 |
5,594 |
524 |
526 |
3,164 |
28,646 |
November 30, 1999 |
19,263 |
5,428 |
526 |
510 |
3,170 |
28,897 |
October 31, 1999 |
17,127 |
5,410 |
540 |
496 |
3,195 |
26,768 |
September 30, 1999 |
16,872 |
5,114 |
540 |
499 |
3,211 |
26,236 |
August 31, 1999 |
16,731 |
4,883 |
495 |
493 |
3,111 |
25,713 |
July 31, 1999 |
16,728 |
4,845 |
540 |
474 |
3,025 |
25,612 |
June 30, 1999* |
17,335 |
4,472 |
572 |
464 |
2,963 |
25,806 |
May 31, 1999 |
17,550 |
4,098 |
103 |
467 |
2,982 |
25,201 |
April 30, 1999 |
17,610 |
4,152 |
104 |
454 |
2,997 |
25,317 |
|
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 |
Dec. 31, 1988 |
12,608 |
908 |
807 |
1,369 |
505 |
16,198 |
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* Starting with June 30, 1999,
securities and gold are reported at month-end closing market value.
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