International reserves held in the Exchange Fund Account

Public Accounts of Canada 2024 Volume I—Top of the page Navigation

This account records the moneys advanced from the government to the Exchange Fund Account (EFA), in Canadian and other currencies, for the purchase of foreign currencies and securities, and special drawing rights (SDRs).

The EFA is operated under the provisions of the Currency Act. The unaudited financial statements as at and for the year ended March 31, 2024, are found at the end of this section.

In 2024, payments and other charges consisted of advances to the EFA in the amount of $41,514 million and an adjustment of $2,951 million to recognize the net income of the EFA for the year ended March 31, 2024. Receipts and other credits consisted of repayments of advances of $32,271 million, credit to the Consolidated Revenue Fund of $836 million for the EFA's net income for the year ended March 31, 2023, and a net foreign exchange valuation adjustment of $809 million.

Table 8.3
International reserves held in the Exchange Fund AccountLinks to footnote * in table 1
(in millions of dollars)
  March 31, 2024 March 31, 2023
US dollar deposits 11,710 8,306
US dollar short-term deposits 218 –
US dollar accounts receivable – 134
US dollar marketable securities 77,649 73,074
Euro deposits 552 630
Euro marketable securities 18,344 15,780
British pound sterling deposits 431 161
British pound sterling marketable securities 12,128 10,034
Japanese yen deposits 93 96
Japanese yen marketable securities 6,298 8,883
Special drawing rights holdings 31,992 31,768
Total 159,415 148,866
Advances by the Consolidated Revenue Fund were denominated as follows:
US dollar 99,824 90,650
Euro 19,315 16,815
British pound sterling 12,176 9,852
Japanese yen 6,315 8,907
Special drawing rights (2024, SDR 14,001 million; 2023, SDR 14,001 million) 25,092 25,456
Canadian dollar (negative 6,258) (negative 3,650)
Total advances from the Consolidated Revenue Fund 156,464 148,030
Total net income from April 1 to March 31 2,951 836
Total 159,415 148,866

Public Accounts of Canada 2024 Volume I—Bottom of the page Navigation

Date modified: