Section 8 - Foreign Exchange Accounts

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Table of Contents

Foreign Exchange Accounts

Foreign exchange accounts represent financial claims and obligations of the Government as a result of Canada's foreign exchange operations. Financial claims and obligations denominated in foreign currencies are reported at Canadian dollar equivalents at March 31. Investment income from the foreign exchange accounts and net gains and losses resulting from the translation of the net assets denominated in foreign currencies, to Canadian dollar equivalents as at March 31, are recorded in foreign exchange net revenues on the Consolidated Statement of Operations and Accumulated Deficit.

Table 8.1 presents the continuity of each foreign exchange account, by showing the opening and closing balances, as well as payments and other charges and receipts and other credits. It should be noted, however, that this table excludes unmatured debt payable in foreign currencies, amounting to $20,267 million as at March 31, 2015 ($16,030 million as at March 31, 2014); details relating to these obligations are presented in Section 6 of this volume. A narrative description is provided for accounts reported in some tables. Such descriptions follow the same presentation order as their respective tables.

Table Summary

The table presents, to the nearest dollar, the Foreign Exchange Accounts. It consists of five columns: a detailled listing of components; April 1 of the current year; Payments and other charges; Receipts and other credits; March 31 of the current year. The first series of rows presents the different foreign exchange accounts followed by a subtotal. The second series of rows lists the notes payable and special drawing rights allocations followed by a subtotal. The final row presents the total.

Table 8.1
Foreign Exchange Accounts

  April 1, 2014
Payments and other charges
Receipts and other credits
March 31, 2015
International reserves held in the Exchange Fund Account, Table 8.2 77,365,078,160 34,153,961,890 19,558,262,746 91,960,777,304
International Monetary Fund — Subscriptions 10,882,988,348 245,660,044   11,128,648,392
International Monetary Fund — Loans 1,665,220,926 609,022,035 920,776,052 1,353,466,909
Subtotal 89,913,287,434 35,008,643,969 20,479,038,798 104,442,892,605
International Monetary Fund — Notes payable 7,419,018,280 898,484,732 2,441,306,252 8,961,839,800
Special drawing rights allocations 10,231,773,099   230,960,262 10,462,733,361
Subtotal 17,650,791,379 898,484,732 2,672,266,514 19,424,573,161
Total 72,262,496,055 35,907,128,701 23,151,305,312 85,018,319,444

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