Archived - Official International Reserves - July 6, 2022

All 2022 Official International Reserves -

The Department of Finance Canada announced today that Canada's official international reserves decreased by an amount equivalent to US$1,611 million during June to US$106,282 million. This was almost entirely driven by reserves management funding operations (US$210 million)Footnote 1 being more than offset by a net loss in investments
(-US$1,803 million)Footnote 2.

Details on the level and composition of Canada's reserves as of June 30, 2022, 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 70,969
Deposits 8,048
Total securities and deposits (liquid reserves): 79,017
Gold 0
Special drawing rights (SDRs) 22,991
Reserve position in the International Monetary Fund (IMF) 4,274
Total:  
June 30, 2022
106,282
May 31, 2022
107,893
Net change: -1,611
Table 2
Details on deposits
  Amount
Millions of US dollars
Other central banks/Bank for International Settlements 8,048
Banks headquartered in Canada 0
Of which: located abroad
0
Banks headquartered abroad 0
Of which: located in Canada
0
Total: 8,048
Table 3
Details of net change
  Amount
Millions of US dollars
Reserves management operationsFootnote 1 210
Gains and losses on gold sales 0
Net investment gains and losses:  
Return on investmentsFootnote 3
-548
Foreign currency debt charges
-63
Revaluation effectsFootnote 4
-1,192
Net government operationsFootnote 5 -18
Official intervention 0
Other transactions 0
Net change: -1,611
Table 4
Currency composition of deposits and securities
  Amount
Millions of US dollars
US dollar 56,690
Euro 9,984
Pound sterling 6,285
Yen 6,058
Total: 79,017
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
-2,271 -1,843 -7,334 -11,448
Interest
-67 -99 -870 -1,035
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: -2,338 -1,942 -8,203 -12,484
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 7,523
Financial derivatives assets (net, marked to market):  
Forwards
46
Swaps
-311
Table 7
Official international reserves (10-year synopsis)
Millions of US dollars
Date US dollars Other currencies Gold SDRs IMF position Total
June 30, 2022 56,690 22,327 0 22,991 4,274 106,282
May 31, 2022 58,218 22,000 0 23,418 4,257 107,893
April 29, 2022 57,074 20,982 0 23,322 4,240 105,618
March 31, 2022 53,114 22,273 0 23,983 4,394 103,764
February 28, 2022 51,290 23,229 0 23,916 4,454 102,889
January 31, 2022 52,841 23,254 0 23,863 4,444 104,402
December 31, 2021 55,378 22,771 0 23,997 4,469 106,615
November 30, 2021 52,102 23,034 0 24,018 4,473 103,627
October 29, 2021 51,726 23,746 0 24,267 4,430 104,169
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
           
December 31, 2021 55,378 22,771 0 23,997 4,469 106,615
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

Future release dates

The next release is August 4, 2022 (covering the period of July 2022).

For further information on the Exchange Fund Account, please consult the Report on the Management of Canada's Official International Reserves—April 1, 2020 – March 31, 2021.

Contacts

For further information, media may contact:

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

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