Bank of Canada balance sheet — Jan 31, 2023

Summary#

• The Bank of Canada published its Statement of financial position as at January 31, 2023 (unaudited).
• The statement lists the central bank’s main assets, liabilities and reserves, with amounts shown in millions of dollars, and was signed on February 17, 2023.

What it does#

• Presents the bank’s balance sheet (assets, liabilities and equity-type items) as of January 31, 2023. Key line items shown include:
  • Total assets: $410,803 million.
  • Total investments (mainly Government of Canada bonds and other securities): $382,625 million.
  • Derivatives / indemnity agreements with the Government of Canada: $27,020 million.
  • Cash and foreign deposits: $15 million.
  • Capital assets (property, equipment, intangible, leased assets): $667 million.
  • Bank notes in circulation: $115,616 million.
  • Total deposits (Government of Canada, Payments Canada members and other deposits): $280,690 million.
  • Securities sold under repurchase agreements: $14,745 million.
  • Total liabilities reported: $411,372 million.
  • Components of the “deficiency” (equity and reserves), including accumulated deficit: -$1,560 million, and total deficiency: -$569 million.
• The statement is labelled unaudited and is certified by Coralia Bulhoes, Chief Financial Officer and Chief Accountant, and Tiff Macklem, Governor.

Who's affected#

• The general public who want transparency about Canada’s central bank finances.
• Economists, financial market participants, journalists and researchers who track central-bank balance sheets and public-sector financial positions.
• Government fiscal analysts and other regulators who review central-bank exposures and reserves.

Why it matters#

• The balance sheet shows how large the Bank of Canada’s financial operations are and what form they take (e.g., government bonds, loans, repurchase agreements, and bank notes in circulation).
• The figures help people understand the size of monetary operations and the central bank’s financial position, which can be relevant to discussions about monetary policy, financial stability and public finances.
• Because the statement is unaudited, it should be treated as the bank’s internal reporting rather than an independent audit.