Bank of Canada Balance Sheet July 31, 2023

Summary#

This is the Bank of Canada Statement of financial position as at July 31, 2023 (unaudited), published in the Canada Gazette on September 2, 2023. It lists the Bank’s assets, liabilities and reserves, and was signed on August 22, 2023 by Coralia Bulhoes and Tiff Macklem.

What it does#

• Reports the Bank’s totals: $357,830 million in assets and $361,482 million in liabilities, with accounting entries that produce a reported total deficiency of $3,652 million.
• Breaks down major asset categories, including:
  • Investments totaling $326,158 million, made up of items such as Government of Canada bonds recorded at $94,800 million (amortized) and $199,390 million (fair value), $8,058 million in Canada Mortgage Bonds, $9,281 million in other bonds, and $485 million in shares in the Bank for International Settlements.
  • Cash and foreign deposits of $13 million and other receivables of $5 million.
  • A derivatives / indemnity agreement item with the Government of Canada of $30,560 million.
  • Capital assets of $665 million (property, intangible and leased assets) and other assets of $429 million.
• Lists major liability items, including:
  • Bank notes in circulation of $117,739 million.
  • Deposits totaling $230,030 million, including $169,857 million from members of Payments Canada and $49,585 million from the Government of Canada.
  • Securities sold under repurchase agreements of $13,409 million and other liabilities of $304 million.
• Shows reserve and equity items, including share capital $5 million, statutory reserves $100 million, investment revaluation reserve $447 million, actuarial gains reserve $393 million, and an accumulated deficit of $4,597 million.

Who's affected#

• Canadians who follow public finances and monetary policy.
• Financial market participants and analysts tracking the Bank’s balance sheet.
• Journalists, researchers and organizations that report on or monitor central bank transparency and risk exposure.
• It is not a policy change or regulation; it’s an accounting statement, so most everyday banking customers will not feel a direct impact.

Why it matters#

• The statement shows the size and composition of the Bank of Canada’s balance sheet at one point in time. That matters for understanding how the Bank holds government bonds, manages liquidity (notes in circulation, deposits), and records large items such as repurchase agreements and indemnity-related derivatives.
• The reported $4,597 million accumulated deficit and $3,652 million total deficiency are notable accounting figures that people watching central bank finances may want to follow.
• Because the statement is unaudited, it is a snapshot provided by the Bank for transparency and information, but it is not an audited financial report.