Archived - 1999 Annual Report to Parliament on the Operations of the Exchange Fund Account

by the Minister of Finance and Report of the Auditor General to the Minister of Finance on the Examination of the Accounts and Financial Statements of the Exchange Fund Account

• PDF Version

Table of Contents

Introduction

• Objectives
• Governance
• Key Principles
• Management of the EFA: Recent Developments
• Enhanced Foreign Exchange Reserves Disclosure

Foreign Exchange Market Developments

• International Financial Developments During 1999
• (I) First Half of 1999 - Economic Conditions Begin to Show Signs of Improvement
• (II) Second Half of 1999 - Stronger Growth Raises Concerns About Inflation

Financial Review

• Foreign Exchange Market Intervention
• Canada's Official International Reserves
• Term Structure of EFA Investment and Liabilities
• The Exchange Fund Account's Revenues
• Financing of EFA Assets
• Cost of the EFA
• Risk Management and Financial Instruments

Financial Statements

• Management Responsibility for the Financial Statements

Exchange Fund Account

• Balance Sheet
• Statement of Revenue

Notes to Financial Statement - December 31, 1999

• Authority and Objective
• Significant Accounting Policies
• Official Government Operations
• Marketable Securities Denominated in US Dollars
• Assets Denominated in Other Foreign Currencies
• Special Drawing Rights (SDRs)
• Gold and Gold Loans
• Due to the Consolidated Revenue Fund (CRF) - Advances
• Commitments
• Uncertainty Due to the Year 2000 Issue