Bank of Canada 2025 Financial Statements

Summary#

The Canada Gazette published the audited financial statements of the Bank of Canada for the year ended December 31, 2025 on June 20, 2026. The statements show a small net loss for 2025 ($82 million) but an improvement from 2024, and an accumulated deficit of $9,899 million on the Bank’s balance sheet.

What it does#

• Publishes the Bank’s full, audited accounts (statement of financial position, income, cash flows and notes). The auditors are Ernst & Young LLP and PricewaterhouseCoopers LLP.
• Reports key totals and changes:
  • Total assets: $240,522 million (2025).
  • Total liabilities: $249,044 million (2025).
  • Bank notes in circulation: $124,319 million (up from $121,298 million in 2024).
  • Deposits (total): $124,438 million, including members of Payments Canada at $71,758 million (down from $124,419 million).
  • Investments include Government of Canada bonds carried at fair value of $119,190 million.
• Shows the Bank’s 2025 net loss of $82 million, and a 2025 comprehensive income of $190 million (after some non‑cash remeasurements).
• Describes other financial items that matter in practice:
  • The Bank’s pension plans, which had a surplus and led to a suspension of employer contributions (no contributions expected to resume in 2026 unless valuations change).
  • Indemnity/derivative arrangements with the Government of Canada that cover realized losses on certain bond‑purchase programs.
  • Standing swap and foreign‑currency facilities with other central banks (some with stated maximums).
• Notes that the statements were prepared under the Bank of Canada Act reporting framework and in accordance with IFRS. The Board approved the statements on February 26, 2026.

Who's affected#

• The immediate reader: anyone who follows Canada’s public finances or the central bank’s finances — journalists, researchers and market participants.
• The Government of Canada and taxpayers: the Bank’s income or losses affect how much the Bank remits to the Receiver General. A large accumulated deficit can reduce or delay remittances.
• Banks and payment-system participants: the statements show the size of deposits from members of Payments Canada and the Bank’s role in providing liquidity.
• Bank employees: the published pension results and funding decisions affect employer contributions and future benefits funding.
• Financial markets and counterparties: the statements disclose the Bank’s holdings, indemnities, and swap facilities that relate to market operations.

If you want a list of specific line items (for example every major holding or every figure in the notes), say so and I can extract them.

Why it matters#

• It shows the Bank’s recent financial position and performance in clear numbers. That helps the public and markets judge the central bank’s fiscal health.
• The Bank made a much smaller loss in 2025 than in 2024, which affects whether and how much it can transfer surplus to the federal government.
• The published notes explain exposures that matter in stress periods: some securities losses are covered by indemnities from the Government of Canada, and the Bank has large swap facilities with other central banks. Those arrangements influence who ultimately bears certain risks.
• Pension funding information matters for Bank staff and for future contribution decisions. The Pension Plan had a surplus and employer contributions remained suspended at the time of the report.
• The statements document changes in deposits and bank notes in circulation, which reflect how much liquidity the Bank has put into Canada’s financial system.