Ottawa, March 5, 2014

Archived - Official International Reserves

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The Department of Finance announced today that Canada’s official international reserves increased by an amount equivalent to US$4,391 million during February to US$77,169 million.

Details on the level and composition of Canada’s reserves as of February 28, 2014, 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.

 millions of US dollars 63,071 650 63,721 127 8,718 4,603 77,169 72,778 4,391
 millions of US dollars 650 0 0 0 0 650
 millions of US dollars 3,826 0 81 -76 560 0 0 0 4,391
 millions of US dollars 44,297 19,074 350 63,721
 millions of US dollars     0-1 month -1,329 -1,167 -6,963 -9,459 -115 -143 -1,004 -1,262 0 -46 0 -46 0 0 0 0 -1,444 -1,356 -7,967 -10,768
 millions of US dollars 0 0 325 -44 -2,315

NOTES:

1. There were no sales of gold settled in February. On February 28, gold holdings stood at 95,895 ounces. The valuation is based on the February 28, 2014, London p.m. fix of US$1,326.50 per ounce. 2. Net change in securities and deposits resulting from foreign currency funding activities of the Government. (Issuance of foreign currency liabilities used to acquire assets increases reserves, while maturities decrease reserves). During February, Canada bills increased by US$389.6 million to a level of outstanding bills of US$2,332.9 million and Canada issued a 5-year US$3-billion global bond. In addition, a total of US$535.8 million of cross-currency swaps of domestic obligations was raised and an equivalent of US$99.3 million in foreign exchange swaps matured during the month.
3. “Return on investments” comprises US$93 million of interest earned on investments and a US$12-million decrease in the market value of securities resulting from changes in interest rates.
4. “Revaluation effects” reflect changes in the market value of reserve assets resulting from movements in exchange rates. In February, the revaluation effect was mainly due to the appreciation of the euro.
5. “Net government operations” are the net purchases of foreign currency for government foreign exchange requirements and for additions to reserves.
6. “Foreign currency securities” include maturities of foreign currency debt, cross-currency swap payments and an estimate of interest payments on foreign currency liabilities.
7. “Securities lent under repurchase agreements” are included in total reserves. Collateral provided in securities lending transactions is not included in total reserves.
8. Cash invested under repurchase agreements is included in total reserves. Collateral provided in securities lending transactions is not included in total reserves.
 millions of US dollars   Date US dollars Other currencies Gold 44,297 19,424 127 8,718 4,603 77,169 40,411 18,917 120 8,642 4,688 72,778 39,514 18,916 115 8,675 4,717 71,937 39,852 18,813 122 8,648 4,603 72,038 39,152 18,821 130 8,663 4,731 71,497 39,190 18,656 130 8,641 4,775 71,392 38,667 17,938 139 8,583 4,601 69,928 38,392 18,066 133 8,571 4,595 69,757 38,090 17,634 121 8,528 4,513 68,886 38,787 18,868 142 8,499 4,399 70,695 39,200 19,286 150 8,594 4,405 71,635 38,253 18,860 165 8,534 4,396 70,208 37,049 19,115 166 8,629 4,399 69,358 39,514 18,916 115 8,675 4,717 71,937 35,622 19,621 181 8,754 4,368 68,546 32,826 19,985 167 8,966 3,875 65,819 26,677 18,211 153 9,054 3,056 57,151 23,879 18,723 119 9,212 2,424 54,357 22,804 18,733 95 991 1,249 43,872 19,257 20,057 91 1,015 661 41,081 15,608 17,590 69 963 833 35,063 16,842 13,822 56 897 1,401 33,018 14,426 15,740 48 925 3,327 34,466 15,575 15,961 45 838 3,848 36,267

Future Release Dates

The next release is April 3, 2014 (covering the period March 2014).

For further information on the Exchange Fund Account, please consult the Report on the Management of Canada's Official International Reserves—April 1, 2012 - March 31, 2013.