Section 8—Foreign exchange accounts

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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 $22,482 million as at March 31, 2016 ($20,267 million as at March 31, 2015); 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, in dollars, 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 foreign exchange accounts. The second series of rows presents the subtraction of notes payable and special drawing rights allocations. A final row presents the total for the table.

Table 8.1
Foreign exchange accounts

(in dollars)

  April 1, 2015 Payments and other charges Receipts and other credits March 31, 2016
International reserves held in the Exchange Fund Account, Table 8.2 91,960,777,304 38,954,679,588 29,535,995,741 101,379,461,151
International Monetary Fund—Subscriptions 11,128,648,392 9,048,217,276 7,207,510 20,169,658,158
International Monetary Fund—Loans 1,353,466,909 188,723,131 264,189,523 1,278,000,517
Subtotal 104,442,892,605 48,191,619,995 29,807,392,774 122,827,119,826
International Monetary Fund—Notes payable 8,961,839,800 237,839,800 9,608,452,000 18,332,452,000
Special drawing rights allocations 10,462,733,361 493,238,183 10,955,971,544
Subtotal 19,424,573,161 237,839,800 10,101,690,183 29,288,423,544
Total 85,018,319,444 48,429,459,795 39,909,082,957 93,538,696,282

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