Bank of Canada balance sheet

Summary#

This is the Bank of Canada unaudited statement of financial position as at August 31, 2022. It shows total assets and total liabilities and equity of $439,151 million (amounts are in millions of dollars). The statement was signed on September 20, 2022 and published in the Canada Gazette on October 1, 2022.

What it does#

• Presents a snapshot of the Bank of Canada’s balance sheet (amounts in millions of dollars).
• Shows total assets of $439,151 million and total liabilities and equity of $439,151 million.
• Breaks down major asset categories:
  • Cash and foreign deposits: $10 million
  • Loans and receivables (including securities purchased under resale agreements): $434 million
  • Investments (total): $406,807 million, including:
    • Government of Canada bonds — amortized cost: $117,397 million
    • Government of Canada bonds — fair value through profit and loss: $246,246 million
    • Canada Mortgage Bonds: $9,194 million
    • Other bonds: $10,595 million
    • Securities lent or sold under repurchase agreements: $22,915 million
    • Shares in the Bank for International Settlements (BIS): $460 million
  • Derivatives — indemnity agreements with the Government of Canada: $30,786 million
  • Capital assets (property, equipment, intangibles, right-of-use): $669 million
  • Other assets: $445 million
• Lists major liabilities and equity items:
  • Bank notes in circulation: $116,620 million
  • Total deposits: $299,319 million, including:
    • Government of Canada deposits: $95,815 million
    • Members of Payments Canada deposits: $191,779 million
    • Other deposits: $11,725 million
  • Securities sold under repurchase agreements: $21,487 million
  • Total liabilities: $438,190 million
  • Total equity: $962 million, including share capital $5 million, statutory and special reserves $125 million, investment revaluation reserve $421 million, and actuarial gains reserve $411 million
• Signed by Coralia Bulhoes, Chief Financial Officer and Chief Accountant, and Tiff Macklem, Governor (both declarations dated September 20, 2022).

Who's affected#

• The statement is primarily of interest to:
  • Financial markets and analysts watching central bank balance-sheet size and composition.
  • Federal government and public-sector accountants (the Bank holds large government bond positions and holds government deposits).
  • Members of Payments Canada and other banks that interact with the Bank’s deposit and settlement systems.
  • Journalists, researchers, and members of the public who follow central bank policy and transparency.
• Everyday consumers are not directly affected by this single statement, but it informs the public record of how the central bank manages money and assets.

Why it matters#

• It provides transparency about how the Bank of Canada is investing and managing public money, including large holdings of Government of Canada bonds and the amount of currency in circulation ($116,620 million).
• The size and composition of the Bank’s balance sheet can influence financial conditions and interest-rate operations, which can affect borrowing costs and the economy more broadly.
• Publishing an unaudited statement gives a timely view of the Bank’s position; the declarations by senior officials show the Bank’s accounting snapshot as of August 31, 2022.