Bank of Canada balance sheet — May 31, 2023

Summary#

On May 31, 2023, the Bank of Canada published an unaudited statement of financial position. The statement shows total assets and matching liabilities of 365,950 (amounts are in millions of dollars) and a reported total deficiency of (2,639).

What it does#

• Presents the Bank’s balance sheet as at May 31, 2023 (unaudited).
• Lists main asset totals, including:
  • Investments: 336,546
    • Government of Canada bonds — amortized cost: 98,041
    • Government of Canada bonds — fair value: 205,990
    • Canada Mortgage Bonds: 8,103
    • Other bonds: 10,243
    • Securities lent or sold under repurchase agreements: 13,670
    • Shares in the Bank for International Settlements (BIS): 499
  • Derivatives / indemnity agreements with Government of Canada: 28,284
  • Cash and foreign deposits: 9
  • Other receivables: 5
  • Capital assets total: 662 (property and equipment 517, intangible assets 103, right‑of‑use leased assets 42)
  • Other assets: 444
• Lists main liabilities and equity items:
  • Bank notes in circulation: 116,687
  • Deposits total: 238,508 (Government of Canada 56,142; members of Payments Canada 171,695; other deposits 10,671)
  • Securities sold under repurchase agreements: 13,097
  • Other liabilities: 297
  • Total liabilities shown: 368,589
  • Deficiency items include an accumulated deficit of (3,614) and a total deficiency of (2,639)
• The statement is signed by Coralia Bulhoes (Chief Financial Officer) and Tiff Macklem (Governor) on June 20, 2023.

Who's affected#

• People who follow central‑bank finances: economists, market analysts and investors.
• Federal finance officials and Parliamentarians who oversee public finances.
• Participants in the payments system, including members of Payments Canada, shown in the deposits breakdown.
• The general public interested in transparency about the central bank’s holdings and liabilities.
• If it’s unclear who else is affected, this statement is mainly informational rather than a policy change.

Why it matters#

• It gives a snapshot of the scale and composition of the central bank’s balance sheet at a specific date.
• The numbers show how much the Bank holds in Government of Canada bonds, the amount of bank notes in circulation, and how deposits are distributed — all useful for understanding money supply and financial plumbing.
• The reported accumulated deficit and total deficiency are accounting figures that may be cited in discussions about the Bank’s finances and fiscal transparency.
• This is a routine financial disclosure, not a policy announcement.