International reserves held in the Exchange Fund Account Fund Account

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This account records the moneys advanced from the government to the Exchange Fund Account (EFA), in Canadian and other currencies, for the purchase of foreign currencies and securities, and special drawing rights (SDRs).

The EFA is operated under the provisions of the Currency Act. The unaudited financial statements as at and for the year ended March 31, 2025, are found at the end of this section.

In 2025, payments and other charges for the international reserves held in the Exchange Fund Account consisted of advances to the EFA in the amount of $39,415 million, an adjustment of $4,149 million to recognize the net income of the EFA for the year ended March 31, 2025, a net foreign exchange revaluation adjustment of $10,431 million and the trade-date recognition of $316 million in purchases of securities that were unsettled at year end. Receipts and other credits consisted of repayments of advances of $33,185 million and a credit to the Consolidated Revenue Fund of $2,951 million for the EFA's net income for the year ended March 31, 2024. For the Exchange Fund Account's liabilities, receipts and other credits consisted of payables of $316 million incurred for purchases of securities that were unsettled at year end.

Table 8.3
International reserves held in the Exchange Fund AccountLinks to footnote * in Table 8.3
(in millions of dollars)
  March 31, 2025 March 31, 2024
US dollar deposits 8,706 11,710
US dollar marketable securities 92,964 77,649
Euro deposits 107 552
Euro marketable securities 20,299 18,344
British pound sterling deposits 743 431
British pound sterling marketable securities 13,595 12,128
Japanese yen deposits 282 93
Japanese yen marketable securities 6,517 6,298
Short-term deposits 1,603 218
Special drawing rights holdings 32,775 31,992
Total 177,591 159,415
Advances from the Consolidated Revenue Fund were denominated as follows:
US dollar 113,505 99,824
Euro 20,890 19,315
British pound sterling 14,114 12,176
Japanese yen 6,667 6,315
Special drawing rights 26,761 25,092
Canadian dollar (negative 8,811) (negative 6,258)
Total advances from the Consolidated Revenue Fund 173,126 156,464
Total net income from April 1 to March 31 4,149 2,951
Total due to the Consolidated Revenue Fund 177,275 159,415
Due to broker 316 –
Total 177,591 159,415

Table 8.3 notes

Table note *

The dash means that the amount is 0 or is rounded to 0.

Return to table note * referrer in Table 8.3

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