Official International Reserves - October 5, 2021

All 2021 Official International Reserves -

The Department of Finance Canada announced today that Canada's official international reserves decreased by an amount equivalent to US$269 million during September to US$106,270 million. This was driven by reserves management funding operations (US$1,067 million)Footnote 1 and a net loss in investments (-US$1,336 million)Footnote 2.

Details on the level and composition of Canada's reserves as of September 29, 2021, 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.

Table 1
Foreign currency reserves
  Amount
Millions of US dollars
Securities 71,671
Deposits 6,264
Total securities and deposits (liquid reserves): 77,935
Gold 0
Special drawing rights (SDRs) 23,910
Reserve position in the International Monetary Fund (IMF) 4,425
Total:  
September 29, 2021
106,270
August 31, 2021
106,539
Net change: -269
Table 2
Details on deposits
  Amount
Millions of US dollars
Other central banks/Bank for International Settlements 6,264
Banks headquartered in Canada 0
Of which: located abroad
0
Banks headquartered abroad 0
Of which: located in Canada
0
Total: 6,264
Table 3
Details of net change
  Amount
Millions of US dollars
Reserves management operationsFootnote 1 1,067
Gains and losses on gold sales 0
Net investment gains and losses:  
Return on investmentsFootnote 3
-609
Foreign currency debt charges
-56
Revaluation effectsFootnote 4
-671
Net government operationsFootnote 5 0
Official intervention 0
Other transactions 0
Net change: -269
Table 4
Currency composition of deposits and securities
  Amount
Millions of US dollars
US dollar 53,264
Euro 13,136
Pound sterling 6,479
Yen 5,056
Total: 77,935
Table 5
Predetermined short-term drains on foreign currency reserves (nominal value)
Millions of US dollars
  0 to 1 month 1 to 3 months 3 to 12 months Total
Foreign currency securities:Footnote 6        
Principal
-3,653 -2,968 -8,137 -14,758
Interest
-90 -141 -482 -714
Aggregate short forward positions in foreign currencies vis-à-vis Canadian dollar 0 0 0 0
Aggregate long forward positions in foreign currencies vis-à-vis Canadian dollar 0 0 0 0
Total net drains: -3,743 -3,109 -8,619 -15,471
Table 6
Additional information (nominal value)
  Amount
Millions of US dollars
Undrawn, unconditional credit lines with banks headquartered outside Canada 0
Securities lent under repurchase agreementsFootnote 7 0
Securities held under repurchase agreementsFootnote 8 3,879
Financial derivatives assets (net, marked to market):  
Forwards
39
Swaps
-1,257
Table 7
Official international reserves (10-year synopsis)
Millions of US dollars
Date US dollars Other currencies Gold SDRs IMF position Total
September 29, 2021 53,264 24,671 0 23,910 4,425 106,270
August 31, 2021 52,526 25,435 0 24,091 4,487 106,539
July 30, 2021 51,555 25,458 0 8,685 4,501 90,199
June 30, 2021 50,835 25,103 0 8,670 4,445 89,053
May 31, 2021 50,458 25,591 0 8,774 4,382 89,205
April 30, 2021 45,429 25,580 0 8,739 4,489 84,237
March 31, 2021 44,708 25,545 0 8,625 4,497 83,375
February 26, 2021 46,707 26,210 0 8,760 4,648 86,325
January 29, 2021 49,007 26,666 0 8,781 4,653 89,107
December 31, 2020 49,236 27,584 0 8,886 4,722 90,428
November 30, 2020 51,179 27,301 0 8,859 4,403 91,742
October 30, 2020 51,276 26,506 0 8,744 4,346 90,872
September 30, 2020 51,347 25,969 0 8,719 4,122 90,157
 
December 31, 2020 49,236 27,584 0 8,886 4,722 90,428
December 31, 2019 48,646 24,967 0 8,527 3,157 85,297
December 31, 2018 49,090 24,189 0 7,941 2,706 83,926
December 29, 2017 51,343 25,308 0 7,975 1,999 86,625
December 30, 2016 52,496 20,453 0 7,578 2,191 82,718
December 31, 2015 48,229 20,848 58 7,899 2,719 79,753
December 31, 2014 43,756 19,000 116 8,164 3,664 74,700
December 31, 2013 39,514 18,916 115 8,675 4,717 71,937
December 31, 2012 35,622 19,621 181 8,754 4,368 68,546
December 30, 2011 32,826 19,985 167 8,966 3,875 65,819
December 31, 2010 26,677 18,211 153 9,054 3,056 57,151

Future release dates

The next release is November 3, 2021 (covering the period of October 2021).

For further information on the Exchange Fund Account, please consult the Report on the Management of Canada's Official International Reserves—April 1, 2019 – March 31, 2020.

Contacts

For further information, media may contact:

Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000

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