Bank of Canada financial position — Mar 31, 2023

Summary#

This is the Bank of Canada’s unaudited statement of financial position as at March 31, 2023. It lists the central bank’s assets, liabilities and equity (all amounts shown are in millions of dollars), including totals and key line items, and is signed by Coralia Bulhoes (Chief Financial Officer) and Tiff Macklem (Governor) on April 26, 2023.

What it does#

• Shows the Bank’s total assets and total liabilities and deficiency as 382,327 (amounts in millions of dollars).
• Breaks down major asset categories, including:
  • Investments of 354,909.
  • Derivatives / indemnity agreements with the Government of Canada of 26,283.
  • Cash and foreign deposits of 14 and loans/receivables of 4.
• Lists key liabilities and funding items, including:
  • Bank notes in circulation of 114,691.
  • Deposits (Government of Canada, Payments Canada members, other) totaling 253,478.
  • Securities sold under repurchase agreements of 15,485.
• Reports capital and reserves, including an accumulated deficit of (2,596) and a total deficiency of (1,632).
• Is a snapshot for the single date March 31, 2023 and is marked “unaudited.”

Who's affected#

• People who watch Canada’s monetary and financial situation: economists, market analysts and journalists.
• Financial institutions and large users of Bank of Canada services (for example, members of Payments Canada).
• Taxpayers and the general public interested in government and central bank finances and transparency.
• Most ordinary banking customers will not see direct day‑to‑day changes from this statement alone.

Why it matters#

• The central bank’s balance sheet shows how it supports the money supply and financial system (for example, through holdings of government bonds and deposits it manages).
• Large totals and the mix of assets/liabilities give clues about how the Bank acted during the period (liquidity operations, market interventions, or other policy tools).
• The reported accumulated deficit of (2,596) million and total deficiency of (1,632) million are notable headline figures that reflect the Bank’s recorded net position at that date.
• Publishing this statement provides public transparency about the Bank’s finances and helps analysts and the public track changes over time.