International reserves held in the Exchange Fund Account
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This account records the moneys advanced from the Government to the Exchange Fund Account, in Canadian and other currencies, for the purchase of gold, foreign currencies and securities, and special drawing rights (SDRs).
The Exchange Fund Account is operated under the provisions of the Currency Act. The financial statements at March 31, 2016 are found at the end of this section.
Table 8.2 shows international reserves held in and advances to the Exchange Fund Account as at March 31, 2016.
In 2015–2016, payments and other charges consisted of advances to the Exchange Fund Account in the amount of $34,127 million, an adjustment of $2,187 million to recognize the net income of the Exchange Fund Account for the period April 1, 2015 to March 31, 2016, and a net valuation adjustment of $2,641 million. Receipts and other credits consisted of repayments of advances of $29,536 million.
The table presents, in millions of dollars, a two-year comparative of the International reserves held in the Exchange Fund Account. It consists of three columns: a detailed listing of components; March 31 of the current year; March 31 of the previous year. The first series of rows presents the international reserves in different denominations, followed by a total. The second series of rows presents the advances by the Consolidated Revenue Fund in different denominations, followed by a total. The following row presents the total net revenue for the year. A final row presents the total for this table.
|March 31, 2016||March 31, 2015|
|US dollar cash and cash equivalents||5,303||441|
|US dollar marketable securities||56,638||60,558|
|Euro cash and cash equivalents||304||189|
|Euro marketable securities||20,162||17,685|
|British pound sterling cash and cash equivalents||114||48|
|British pound sterling marketable securities||7,534||2,405|
|Japanese yen cash and cash equivalents||181||17|
|Japanese yen marketable securities||712||794|
|Special drawing rights||10,431||9,818|
|Advances by the Consolidated Revenue Fund were denominated as follows:|
|British pound sterling||7,653||2,440|
|Special drawing rights (2016, SDR 3,435 million; 2015, SDR 4,599 million)||6,285||8,035|
|Canadian dollar||562||(negative 274)|
|Total advances from the Consolidated Revenue Fund||99,192||91,121|
|Total net revenue for the year||2,187||840|
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