Enterprise Crown corporations and other government business enterprises

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Loans and advances to, and investments in, enterprise Crown corporations and other government business enterprises represent the balance of financial claims held by the government against corporations and enterprises for working capital, capital expenditures and other purposes, investments in the capital stock of corporations, and loans and advances to corporations and enterprises for re-lending.

A Crown corporation means a parent Crown corporation or a wholly-owned subsidiary; a parent Crown corporation is wholly-owned directly by the Crown; a wholly-owned subsidiary is wholly-owned by one or more parent Crown corporations directly or indirectly through any number of subsidiaries.

Enterprise Crown corporations are a type of government business enterprise and are defined as those Crown corporations which are not dependent on parliamentary appropriations and whose principal activity and source of revenue is the sale of goods and services to outside parties. These include select Crown corporations listed in Part I, all the Crown corporations listed in Part II of Schedule III of the Financial Administration Act and the Bank of Canada. Although a Crown corporation, the Canada Pension Plan Investment Board is not part of the government reporting entity since its mandate is to manage an investment portfolio on behalf of the Canada Pension Plan which is itself excluded from the reporting entity.

There are also a number of self-sustaining government business enterprises that are not considered Crown corporations, but which are controlled by the government and in most cases accountable to Parliament through a Minister of the Crown for the conduct of their affairs. These are referred to as "other government business enterprises" and include the various Canada Port Authorities.

Most of the enterprise Crown corporations and other government business enterprises are agents of Her Majesty for the conduct of all or part of their activities. This status is granted in one of the following ways:

Further information on the business and activities of all parent Crown corporations and information on all Crown corporations and other corporate interests of Canada is provided in the annual report entitled Inventory of Federal Organizations and Interests. Audited financial statements of parent Crown corporations are made available and published on their respective websites.

Table 9.2
Enterprise Crown corporations and other government business enterprises
(in dollars)
  April 1, 2020 Payments and other charges Receipts and other credits March 31, 2021
Investments
Investments and accumulated profits/losses, Table 9.4 50,738,738,950 (negative 11,294,812,000) (negative 4,902,318,000) 44,346,244,950
Loans and advancesLink to table note 1
Employment, Workforce Development and Disability Inclusion
Canada Mortgage and Housing Corporation
Housing 1,134,958,490 – 144,505,740 990,452,750
Joint projects 364,841,995 – 17,761,175 347,080,820
Real estate 7,722,868 – 573,435 7,149,433
Sewage treatment projects 5,151,014 – 2,271,179 2,879,835
Student housing projects 15,782,002 – 5,799,539 9,982,463
Subtotal 1,528,456,369 – 170,911,068 1,357,545,301
Finance
Department of Finance
Business Development Bank of Canada 23,405,000,000 22,001,000,000 27,180,000,000 18,226,000,000
Canada Lands Company Limited 431,870,000 7,570,000 – 439,440,000
Canada Mortgage and Housing Corporation 12,848,436,531 9,644,808,000 8,567,108,305 13,926,136,226
Farm Credit Canada 32,653,500,000 13,607,000,000 11,919,000,000 34,341,500,000
Subtotal 69,338,806,531 45,260,378,000 47,666,108,305 66,933,076,226
Global Affairs
Export Development Canada
Canada Development Investment Corporation 6,255,000,000 3,725,000,000 – 9,980,000,000
Total—Loans and advances 77,122,262,900 48,985,378,000 47,837,019,373 78,270,621,527
Less:
Loans expected to be repaid from future appropriations 2,718,499,158 115,566,000 – 2,602,933,158
Unamortized discounts and premiums 34,807,839 21,920,936 7,289,814 20,176,717
Total 2,753,306,997 137,486,936 7,289,814 2,623,109,875
Total 125,107,694,853 37,828,052,936 42,941,991,187 119,993,756,602

Advances to programs

Canada Mortgage and Housing Corporation

The Corporation was incorporated, on January 1, 1946, by the Canada Mortgage and Housing Corporation Act. The Corporation's mandate, as stated in the National Housing Act, is to promote the construction, repair and modernization of housing, the improvement of housing and living conditions, housing affordability and choice, the availability of low-cost financing for housing, and the national well being of the housing sector. Advances have been made to the Canada Mortgage and Housing Corporation to support various programs undertaken by the Corporation.

Housing

Advances made for moderate to low income housing bear interest at rates from 5.61% to 16.10% per annum, and are repayable over 1 to 50 years, with the final instalment due on March 31, 2037.

Joint projects

Advances made to undertake housing projects jointly with the provinces bear interest at rates from 7.44% to 17.96% per annum, and are repayable over 1 to 50 years, with the final instalment due on June 30, 2038.

Real estate

Advances made for the acquisition and development of real estate bear interest at rates from 10.07% to 15% per annum, and are repayable over 50 years, with the final instalment due on June 30, 2036.

Sewage treatment projects

Advances made to assist in the establishment or expansion of sewage treatment projects and the construction of trunk storm sewers bear interest at rates from 7.27% to 7.45% per annum, and are repayable over 20 to 50 years, with the final instalment due on March 31, 2023.

Student housing projects

Advances made for student housing projects bear interest at rates from 7.01% to 10.05% per annum, and are repayable over 20 to 50 years, with the final instalment due on April 1, 2030.

Direct lending to Crown corporations

Business Development Bank of Canada

The Business Development Bank of Canada (BDC) was established in 1974 by the Federal Business Development Bank of Canada Act and was continued under its current name by an act of Parliament on July 13, 1995. The Corporation is a Crown corporation named in Part I of Schedule III to the Financial Administration Act, and is not subject to the requirements of the Income Tax Act.

The role of the Corporation is to promote and assist in the establishment and development of business enterprises in Canada, with specific attention to small and medium-sized businesses. The Corporation provides a wide range of lending, investment and consulting services complementary to those of commercial financial institutions. The Corporation offers Canadian companies' services tailored to meet the current needs of small and medium-sized businesses while earning an appropriate return on investment capital, which is used to further the Corporation's activities.

Pursuant to Section 19 of the Business Development Bank of Canada Act, the federal government, at the request of the Corporation, may lend money to the Corporation on any terms and conditions that the Minister of Finance may fix.

Loans outstanding at year end bear interest at rates from 0.07% to 2.45% per annum.

Canada Lands Company Limited

Canada Lands Company Limited (originally Public Works Lands Company Limited) was incorporated under the Companies Act in 1956 and was continued under the Canada Business Corporations Act. The Corporation is a Crown corporation named in Part I of Schedule III of the Financial Administration Act. The Corporation conducts its business through Canada Lands Company CLC Limited (CLC) and Parc Downsview Park (PDP), its principal wholly-owned subsidiaries. CLC and PDP's objective is to carry out a commercially oriented and orderly disposal program of certain government real properties and the management of certain select properties. In undertaking this objective, CLC and PDP may manage, develop and dispose of real properties, either in the capacity of owner or as agent of the government.

CLC and PDP have acquired an interest in a number of real properties from the government in consideration for the issuance of promissory notes, which bear no interest and are repayable from the proceeds of the sale of the properties in respect of which they were issued. The notes are discounted using the Consolidated Revenue Fund lending rate applicable to Crown corporations and recorded at their discounted value.

During the year, a new note have been issued for an amount of $7.6 million and an amount of $4.1 million was amortized to income. The balance in the account represents the notes receivable net of the corresponding unamortized discount.

Canada Mortgage and Housing Corporation

Pursuant to Section 21(1) of the Canada Mortgage and Housing Corporation Act, the federal government, at the request of the Corporation, may, out of the Consolidated Revenue Fund, lend money to the Corporation on any terms and conditions that the Minister of Finance may fix.

Loans outstanding at year end bear interest at rates from 0.08% to 3.94% per annum.

Farm Credit Canada

The Farm Credit Canada was established in 1959 by the Farm Credit Canada Act as the successor to the Canadian Farm Loan Board, and is a Crown corporation named in Part I of Schedule III to the Financial Administration Act. The Corporation is not subject to the requirements of the Income Tax Act.

The Corporation's role is to enhance rural Canada by providing business and financial solutions for farm families and agribusiness. Additionally, the Corporation may deliver specific programs for the Government of Canada on a cost recovery basis.

Pursuant to Section 12(2) of the Farm Credit Canada Act, the federal government, at the request of the Corporation, may lend money to the Corporation on any terms and conditions that the Minister of Finance may fix.

Loans outstanding at year end bear interest at rates from 0.07% to 3.25% per annum.

Canada Development Investment Corporation

Canada Development Investment Corporation (CDEV) was incorporated in 1982 under the provisions of the Canada Business Corporations Act and is wholly-owned by Her Majesty in Right of Canada. The Corporation is an agent Crown corporation listed in Schedule III, Part II of the Financial Administration Act and is not subject to the requirements of the Income Tax Act.

CDEV has three wholly-owned subsidiaries, Canada Hibernia Holding Corporation (CHHC), Canada Eldor Inc. (CEI), and TMP Finance Ltd. (TMP Finance) which in turn owns Trans Mountain Corporation (TMC) and its subsidiaries.

On August 31, 2018, TMC acquired entities from Kinder Morgan Cochin ULC that own and operate the Trans Mountain pipeline system (TMPL), the Puget Sound pipeline system as well as certain rights, designs and construction contracts related to the expansion of the TMPL known as the Trans Mountain Expansion Project.

Loans outstanding at year-end bear interest at a rate of 4.7% per annum.

Interest paid to the government

Interest paid to the Government of Canada with respect to these loans in the years ended March 31, 2021 and 2020 is as follows:

Interest paid to the government
(in millions of dollars)
  2021 2020
Business Development Bank of Canada 92.4 371.5
Canada Development Investment Corporation 381.4 261.4
Canada Mortgage and Housing Corporation 354.0 303.0
Farm Credit Canada 239.8 512.9
Total 1,067.6 1,448.8

Summary financial statements of enterprise Crown corporations and other government business enterprises

Enterprise Crown corporations and other government business enterprises are categorized as being either agents or non-agents of the Crown. In some situations, agent status may be restricted to certain designated activities of a corporation.

These tables present financial information on parent enterprise Crown corporations and other government business enterprises, as well as financial information on wholly-owned subsidiaries that are considered "deemed parent Crown corporations" and are excluded from the consolidated financial statements of their parent Crown corporations.

The tables summarize the financial transactions and results of operations of each enterprise Crown corporation and other government business enterprise in accordance with its own respective accounting policies. All enterprise Crown corporations and other government business enterprises prepare their financial statements based on International Financial Reporting Standards.

For those corporations having year ends other than March 31, the data are based on unaudited interim financial statements which have been prepared on a basis consistent with the most recent audited financial statements.

Table 9.3 and Table 9.4 present summarized financial information of enterprise Crown corporations and other government business enterprises. Balances reported under government, Crown corporations and other entities represent those between related parties. Of note, borrowings from third parties represent amounts repayable to financial institutions and other investors. Revenues include financial assistance from the government in respect of the current year's operations, when applicable. Equity adjustments include prior period adjustments and other miscellaneous items recorded by the corporations and enterprises. Other comprehensive income or loss comprises certain unrealized gains and losses on financial instruments and certain actuarial gains and losses related to pensions and other employee future benefits which are recognized in comprehensive income but excluded from net income. Other comprehensive income is excluded from the calculation of the government's annual deficit. It is instead recorded directly to the government's accumulated deficit. Upon realization of the gains and losses on financial instruments, the associated amounts are reclassified to the profit or loss of enterprise Crown corporations and other government business enterprises and then, reflected in the government's annual deficit. The actuarial gains and losses related to pensions and other employee future benefits are not reclassified. Equity transactions with the government include dividends declared or transfers of profits to the government, as well as equity contributions provided by the government. Any unrealized inter-organizational gains and losses are eliminated as part of the modified equity accounting adjustment.

Table 9.3
Financial position of enterprise Crown corporations and other government business enterprises
Assets, liabilities and equity as at March 31, 2021
(in thousands of dollars)
Enterprise Crown corporations and other government business enterprisesLink to table note 1 Assets Liabilities Accumulated Profits (losses) Contributed surplus Capital stock Equity of Canada Total liabilities and equity
Financial Non-financial Total assets Third parties Government, Crown corporations, and other entities Total liabilities
Third parties Government, Crown corporations, and other entities Borrowings Other
Atlantic Pilotage Authority 8,008 – 14,391 22,399 4,097 6,135 – 10,232 12,167 – – 12,167 22,399
Bank of Canada 135,070,283 416,578,850 736,379 552,385,512 – 493,377,517 58,446,431 551,823,948 531,564 25,000 5,000 561,564 552,385,512
Business Development Bank of Canada 36,889,341 7,682 251,094 37,148,117 127,662 769,582 18,246,778 19,144,022 6,464,417 27,778 11,511,900 18,004,095 37,148,117
Canada Deposit Insurance Corporation 1,735,888 4,758,119 18,164 6,512,171 – 2,669,429 1,237 2,670,666 3,841,505 – – 3,841,505 6,512,171
Canada Development Investment Corporation 698,180 139,012 11,511,520 12,348,712 – 1,769,432 10,415,445 12,184,877 (negative 439,460) 603,294 1 163,835 12,348,712
Canada Lands Company Limited 528,459 64,612 589,071 1,182,142 29,200 73,738 420,375 523,313 477,659 181,170 – 658,829 1,182,142
Canada Mortgage and Housing Corporation 292,666,183 14,174,709 782,584 307,623,476 265,191,379 9,992,873 19,286,574 294,470,826 13,127,640 25,010 – 13,152,650 307,623,476
Canada Post Corporation 3,765,790 1,465,110 4,920,489 10,151,389 997,554 6,989,405 129,962 8,116,921 879,297 1,155,171 – 2,034,468 10,151,389
Export Development Canada 66,746,703 40,000 297,958 67,084,661 47,531,540 2,628,843 4,280,000 54,440,383 344,278 – 12,300,000 12,644,278 67,084,661
Farm Credit Canada 43,529,110 46,000 285,054 43,860,164 851,864 591,010 34,404,668 35,847,542 7,512,622 500,000 – 8,012,622 43,860,164
Freshwater Fish Marketing Corporation 8,975 – 38,636 47,611 20,886 8,829 17,896 47,611 – – – – 47,611
Great Lakes Pilotage Authority 7,489 – 849 8,338 – 12,024 267 12,291 (negative 3,953) – – (negative 3,953) 8,338
Halifax Port AuthorityLink to table note 2 11,222 – 240,655 251,877 19,559 15,288 813 35,660 165,360 50,857 – 216,217 251,877
Hamilton-Oshawa Port AuthorityLink to table note 2 23,886 – 155,250 179,136 – 20,285 – 20,285 135,811 23,040 – 158,851 179,136
Laurentian Pilotage Authority 22,225 421 17,690 40,336 – 15,245 – 15,245 25,091 – – 25,091 40,336
Montreal Port AuthorityLink to table note 2 225,183 10,551 555,057 790,791 181,674 180,944 988 363,606 193,103 234,082 – 427,185 790,791
Pacific Pilotage Authority 15,064 1,207 14,090 30,361 3,482 12,925 196 16,603 13,758 – – 13,758 30,361
Prince Rupert Port AuthorityLink to table note 2 135,358 – 252,500 387,858 – 90,175 – 90,175 261,470 36,213 – 297,683 387,858
Quebec Port AuthorityLink to table note 2 30,063 5,668 207,086 242,817 35,152 44,047 48,274 127,473 58,082 57,262 – 115,344 242,817
Royal Canadian Mint 129,287 28,530 250,953 408,770 6,006 219,175 2,621 227,802 140,968 – 40,000 180,968 408,770
Saint John Port AuthorityLink to table note 2 23,562 – 114,499 138,061 12,498 16,177 – 28,675 47,727 61,659 – 109,386 138,061
Sept-Iles Port AuthorityLink to table note 2 19,210 210 316,087 335,507 39,453 160,355 – 199,808 123,992 11,707 – 135,699 335,507
Toronto Port AuthorityLink to table note 2 83,133 – 237,693 320,826 30,753 85,091 – 115,844 204,982 – – 204,982 320,826
Vancouver Fraser Port AuthorityLink to table note 2 158,950 9,619 2,179,943 2,348,512 30,876 233,892 2,360 267,128 1,931,125 150,259 – 2,081,384 2,348,512
Other Canada Port AuthoritiesLink to table note 2Link to table note 3 117,258 276 261,982 379,516 35,555 39,249 6,203 81,007 155,439 143,070 – 298,509 379,516
Total 582,648,810 437,330,576 24,249,674 1,044,229,060 315,149,190 520,021,665 145,711,088 980,881,943 36,204,644 3,285,572 23,856,901 63,347,117 1,044,229,060
Elimination adjustments   (negative 18,746,301) (negative 272,560) (negative 19,018,861)     (negative 17,988) (negative 17,988) (negative 19,000,873)     (negative 19,000,873) (negative 19,018,861)
Total 582,648,810 418,584,275 23,977,114 1,025,210,199 315,149,190 520,021,665 145,693,100 980,863,955 17,203,771 3,285,572 23,856,901 44,346,244 1,025,210,199

Table 9.4
Revenues, expenses and other changes in equity of enterprise Crown corporations
and other government business enterprises for the year ended March 31, 2021
(in thousands of dollars)
Enterprise Crown corporations and other government business enterprises Revenues Expenses Net income
(loss)		 Equity beginning of year Equity adjustments and other Other comprehensive income
(loss)		 Equity transactions with the Government Equity end of year
Third parties Government, Crown corporations and other entitiesLink to table note 1 Total Third parties Government, Crown corporations and other entities Total Dividends Capital
Atlantic Pilotage Authority 24,844 – 24,844 26,137 2 26,139 (negative 1,295) 13,563 – (negative 101) – – 12,167
Bank of Canada 1,095,764 2,695,557 3,791,321 1,409,706 192,201 1,601,907 2,189,414 582,589 – 85,908 (negative 2,296,347) – 561,564
Business Development Bank of Canada 2,498,235 – 2,498,235 752,299 98,288 850,587 1,647,648 8,891,660 – (negative 38,213) – 7,503,000 18,004,095
Canada Deposit Insurance Corporation 770,237 58,877 829,114 455,017 12,179 467,196 361,918 3,479,691 – (negative 104) – – 3,841,505
Canada Development Investment Corporation 544,049 199 544,248 458,986 171,383 630,369 (negative 86,121) 354,289 42,021 (negative 38,354) (negative 108,000) – 163,835
Canada Lands Company Limited 136,974 – 136,974 158,983 (negative 4,992) 153,991 (negative 17,017) 685,846 – – (negative 10,000) – 658,829
Canada Mortgage and Housing Corporation 7,456,344 5,880,440 13,336,784 10,253,072 1,115,562 11,368,634 1,968,150 15,430,287 – (negative 350,787) (negative 3,895,000) – 13,152,650
Canada Post Corporation 9,553,640 241,799 9,795,439 10,231,484 24,385 10,255,869 (negative 460,430) 2,204,561 – 290,337 – – 2,034,468
Export Development Canada 2,540,808 – 2,540,808 2,393,202 (negative 3,184) 2,390,018 150,790 8,721,661 (negative 9) 85,036 (negative 7,280,000) 10,966,800 12,644,278
Farm Credit Canada 1,601,985 – 1,601,985 541,461 247,808 789,269 812,716 7,252,469 – (negative 52,563) – – 8,012,622
Freshwater Fish Marketing Corporation 59,427 – 59,427 59,581 – 59,581 (negative 154) – 154 – – – –
Great Lakes Pilotage Authority 38,122 18 38,140 37,423 1,421 38,844 (negative 704) (negative 3,249) – – – – (negative 3,953)
Halifax Port Authority 43,177 – 43,177 30,005 1,917 31,922 11,255 205,697 – (negative 735) – – 216,217
Hamilton-Oshawa Port Authority 33,064 – 33,064 24,438 – 24,438 8,626 151,798 – (negative 1,573) – – 158,851
Laurentian Pilotage Authority 92,065 – 92,065 95,164 – 95,164 (negative 3,099) 28,190 – – – – 25,091
Montreal Port Authority 115,885 763 116,648 96,614 4,462 101,076 15,572 414,001 (negative 35) (negative 2,353) – – 427,185
Pacific Pilotage Authority 84,880 – 84,880 84,215 667 84,882 (negative 2) 13,827 – (negative 67) – – 13,758
Prince Rupert Port Authority 69,342 – 69,342 34,564 3,376 37,940 31,402 267,436 – (negative 1,155) – – 297,683
Quebec Port Authority 37,689 3,420 41,109 36,901 1,829 38,730 2,379 117,073 – (negative 4,108) – – 115,344
Royal Canadian Mint 2,845,615 87,770 2,933,385 2,821,330 62,250 2,883,580 49,805 151,757 – (negative 594) (negative 20,000) – 180,968
Saint John Port Authority 18,085 – 18,085 14,789 458 15,247 2,838 108,145 (negative 1,088) (negative 509) – – 109,386
Sept-Iles Port Authority 36,556 – 36,556 19,678 – 19,678 16,878 118,821 – – – – 135,699
Toronto Port Authority 31,920 – 31,920 45,696 – 45,696 (negative 13,776) 224,943 – (negative 6,185) – – 204,982
Vancouver Fraser Port Authority 278,512 1,471 279,983 151,273 7,854 159,127 120,856 1,963,376 – (negative 2,848) – – 2,081,384
Other Canada Port Authorities 48,858 1,075 49,933 43,199 529 43,728 6,205 292,937 99 (negative 732) – – 298,509
Total 30,056,077 8,971,389 39,027,466 30,275,217 1,938,395 32,213,612 6,813,854 51,671,368 41,142 (negative 39,700) (negative 13,609,347) 18,469,800 63,347,117
Elimination adjustments               (negative 932,630) (negative 18,468,744) 382,657 17,844   (negative 19,000,873)
Total net results 30,056,077 8,971,389 39,027,466 30,275,217 1,938,395 32,213,612 6,813,854 50,738,738 (negative 18,427,602) 342,957 (negative 13,591,503) 18,469,800 44,346,244
Less equity adjustments             (negative 18,451,623)   18,451,623       –
Share of annual loss             (negative 11,637,769) 50,738,738 24,021 342,957 (negative 13,591,503) 18,469,800 44,346,244

Borrowings by enterprise Crown corporations and other government business enterprises

Table 9.5
Borrowings by enterprise Crown corporations and other government business enterprises
(in thousands of dollars)
  April 1, 2020 Borrowings and other credits Repayments and other charges March 31, 2020
Agent enterprise Crown corporations
Business Development Bank of Canada 141,621 (negative 15) 13,944 127,662
Canada Mortgage and Housing Corporation 244,642,588 54,920,677 34,371,886 265,191,379
Canada Post Corporation 997,339 215 – 997,554
Export Development Canada 63,249,217 29,145,375 44,863,052 47,531,540
Farm Credit Canada 833,152 7,584,139 7,565,427 851,864
Freshwater Fish Marketing Corporation 35,964 20,886 35,964 20,886
Royal Canadian Mint 8,995 170 3,159 6,006
Total—Agent enterprise Crown corporations 309,908,876 91,671,447 86,853,432 314,726,891
Non-agent enterprise Crown corporations and other government business enterprises
Atlantic Pilotage Authority 4,779 – 682 4,097
Canada Lands Company LimitedLink to table note 1 37,500 12,500 20,800 29,200
Halifax Port AuthorityLink to table note 2 21,624 16,904 18,969 19,559
Montreal Port AuthorityLink to table note 2 13,158 210,000 41,484 181,674
Pacific Pilotage Authority 1,317 2,573 408 3,482
Quebec Port AuthorityLink to table note 2 11,986 35,152 11,986 35,152
Saint John Port AuthorityLink to table note 2 – 12,498 – 12,498
Sept-Iles Port AuthorityLink to table note 2 38,379 7,000 5,926 39,453
Toronto Port AuthorityLink to table note 2 32,463 – 1,710 30,753
Vancouver Fraser Port AuthorityLink to table note 2 103,034 28,242 100,400 30,876
Other Canada Port AuthoritiesLink to table note 2 38,843 1,908 5,196 35,555
Total—Non-agent enterprise Crown corporations and other government business enterprises 303,083 326,777 207,561 422,299
Total 310,211,959 91,998,224 87,060,993 315,149,190
Borrowings expected to be repaid by enterprise Crown corporations and other government business enterprises 310,211,959 – – 315,149,190
Allowance for borrowings of enterprise Crown corporations and other government business enterprises expected to be repaid by the government and reported on the Consolidated Statement of Financial Position – – – –

In accordance with section 54 of the Financial Administration Act, the payment of all money borrowed by agent enterprise Crown corporations and interest thereon is a charge on and payable out of the Consolidated Revenue Fund. Such borrowings therefore constitute obligations of the government and are recorded as such net of borrowings expected to be repaid directly by these corporations.

Borrowings by non-agent enterprise Crown corporations and other government business enterprises are not on behalf of Her Majesty, but may, at times, be guaranteed by the government.

Maturity and currency of borrowings by enterprise Crown corporations and other government business enterprises

Table 9.6
Maturity and currency of borrowings by enterprise Crown corporations
and other government business enterprises
(in thousands of dollars)
Year of maturity Agent Non-agent Total
2022 63,732,003 152,704 63,884,707
2023 52,920,262 10,100 52,930,362
2024 53,488,761 10,132 53,498,893
2025 47,559,270 10,605 47,569,875
2026 41,189,232 9,410 41,198,642
Subsequent years 55,837,363 229,348 56,066,711
Total 314,726,891 422,299 315,149,190Link to table note 1

Contingent liabilities of enterprise Crown corporations and other government business enterprises

The table below presents disclosed contingent liabilities of enterprise Crown corporations and other government business enterprises, which are not included in the Government of Canada's provision for contingent liabilities.

Table 9.7
Contingent liabilities of enterprise Crown corporations and other government business enterprises
(in thousands of dollars)
  2021
Loan guarantees 4,352,238
Letters of credit 265,935
Performance guarantees and callable shares 95,848
Pending and threatened litigation and other claims 3,681
Total 4,717,702

Contractual obligations of enterprise Crown corporations and other government business enterprises

A contractual obligation represents a legal obligation to third party organizations or individuals as a result of a contract.

Table 9.8
Contractual obligations of enterprise Crown corporations and other government business enterprises as at March 31, 2021
(in thousands of dollars)
  Transfer payment agreements Loans Capital expenditures Operating leases and other Total
Bank of Canada – – 23,715 150,803 174,518
Business Development Bank of Canada – 4,727,325 – 185,360 4,912,685
Canada Deposit Insurance Corporation – – 558 13,411 13,969
Canada Development Investment Corporation – – 150,421 69,204 219,625
Canada Lands Company Limited – – 72,800 1,200 74,000
Canada Mortgage and Housing Corporation 9,304,000 5,709,298 – 182,000 15,195,298
Canada Post Corporation – – – 3,000 3,000
Export Development Canada – 16,909,049 – 424,000 17,333,049
Farm Credit Canada – 9,903,700 1,800 175,916 10,081,416
Great Lakes Pilotage Authority – – – 1,226,482 1,226,482
Halifax Port Authority – – 3,541 – 3,541
Pacific Pilotage Authority – – 4,050 – 4,050
Prince Rupert Port Authority – – 38 – 38
Royal Canadian Mint 5,769 – – 126,756 132,525
Vancouver Fraser Port Authority – – 392,811 14,935 407,746
Total 9,309,769 37,249,372 649,734 2,573,067 49,781,942

Financial assistance to enterprise Crown corporations and other government business enterprises

Table 9.9 presents charges to appropriations or authorities approved by Parliament. It should be read in conjunction with Table 9.4.

Table 9.9
Financial assistance to enterprise Crown corporations and other government business enterprises for the year ended March 31, 2021
(in thousands of dollars)
  Financial assistance
Canada Mortgage and Housing Corporation 5,530,500
Canada Post Corporation 22,210
Total 5,552,710

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