Bank of Canada year-end balance sheet

Summary#

The Bank of Canada published its unaudited statement of financial position as at December 31, 2022. It reports total assets of $410,710 million and total liabilities of $410,807 million, leaving total equity of $(97) million (amounts are in millions of dollars).

What it does#

• Shows the Bank’s balance sheet at year‑end: total assets $410,710 million and total liabilities $410,807 million.
• Breaks down major asset and liability categories, including:
  • Investments total $378,206 million, which includes Government of Canada bonds carried at amortized cost $108,750 million and bonds at fair value $232,357 million.
  • Bank notes in circulation $119,726 million.
  • Deposits (including government and members of Payments Canada) total $273,333 million.
  • Derivatives under indemnity agreements with the Government of Canada $31,346 million.
  • Securities sold under repurchase agreements $17,396 million and securities lent/repurchase in investments $19,501 million.
• Lists smaller items such as cash and foreign deposits $14 million, loans and receivables $5 million, capital assets $671 million, and other assets $468 million.
• Reports equity items including share capital $5 million, statutory and special reserves $100 million, an investment revaluation reserve $440 million, an actuarial gains reserve $444 million, and an accumulated deficit of $(1,086) million.
• The statement is unsigned in the notice but carries declarations dated January 25, 2023 from Coralia Bulhoes (Chief Financial Officer and Chief Accountant) and Tiff Macklem (Governor).

Who's affected#

• The general public and taxpayers who follow how public institutions manage funds.
• Financial markets, economists, and analysts who track central bank balance sheets and liquidity.
• Government and other depositors (listed in the deposits figure) and institutions that deal with the Bank (e.g., Payments Canada members).
• Researchers and journalists looking for official, recent financial data about the Bank of Canada.

Why it matters#

• The statement gives a snapshot of the size and composition of the central bank’s balance sheet at the end of 2022. That affects how people understand monetary operations, liquidity in the financial system, and the Bank’s holdings of government debt.
• The reported $(1,086) million accumulated deficit and overall negative equity of $(97) million are concrete figures readers may notice; they describe accounting balances on the Bank’s books as of the date shown.
• Large items — such as $119,726 million in bank notes in circulation and $378,206 million in investments — show where most of the Bank’s assets and liabilities are concentrated. This can matter for anyone tracking inflation, money supply, or government-debt holdings.