Bank of Canada assets and liabilities: Month-end (formerly B1)

View or download the latest monthly data. For metadata and background information, see the notes.

Typically published between the 8th and 13th business day of the month. December data are typically published in February.

Monthly Series

Month-end, Millions of dollars1 2CANSIM2020‑062020‑072020‑082020‑092020‑10
Assets
Government of Canada direct and guaranteed securities
Treasury BillsV36653129,526133,808106,97193,61370,184
Government of Canada Bonds
3 years and underV3665580,79393,444101,834123,702137,696
3-5 yearsV3665634,87942,15146,28643,51650,469
5-10 yearsV3665726,79932,13640,97935,34240,530
Over 10 yearsV3665824,18629,91632,74136,63740,042
Total Government of Canada BondsV36654166,658197,648221,839239,198268,738
Real Return BondsV11609145471,2831,3271,3342,6792,661
Canada Mortgage BondsV10381006577,4488,1778,7399,1339,645
TotalV36652304,914340,959338,883344,623351,228
Provincial Money Market Securitiesv11460672657,6297,3727,3777,0365,355
Provincial BondsV11609145485,1307,0078,4169,88211,652
Bankers’ Acceptancesv11460672661,7090000
Commercial Paperv11460672671,6270000
Corporate BondsV1160914549139141141157168
Loans and receivables
Advances to members of Payments CanadaV366636066267121501
Securities purchased under resale agreementsV36670205,186185,554185,751169,951155,096
Other loans and receivablesV4155017245455
Other investmentsV36660490502500506505
Cash and foreign currency depositsV3666188777
Derivatives: Indemnity agreements with the Government of CanadaV1210799372 510277
All other assetsV36659754731728725725
Total assetsV36651528,197542,905542,571533,041525,021
Liabilities and capital
Notes in circulationV36672100,066102,058102,393102,984103,601
Canadian dollar deposits
Government of CanadaV36677146,573148,231123,24081,766106,176
Members of Payments CanadaV41886561269,228281,972307,540337,195303,454
OtherV3668110,6798,2597,7918,3909,010
Securities sold under repurchase agreementsV41886562043325321,087
Derivatives: Indemnity agreements with the Government of CanadaV121079811645196404160
Foreign currency liabilitiesV3668200000
All other liabilitiesV366846197859831,1601,095
CapitalV41886563582594592597597
Total liabilities and capitalV36671528,197542,905542,571533,041525,021

Notes

Source: Bank of Canada

Bank of Canada assets and liabilities: Month-end (formerly B1) was previously named Bank of Canada: Monthly series (B1).

The Bank of Canada (The Bank) commenced operations in March 1935 under the terms of the Bank of Canada Act of 1934. Data for the month-end series (Bank of Canada assets and liabilities: Month-end (formerly B1)) are available from the commencement of operations and for the Wednesday series (Bank of Canada assets and liabilities: Weekly (formerly B2)), from 1954. The statement of assets and liabilities presented in the tables follows in general the form presented in the Bank of Canada Act. In compliance with the 1991 Bank Act, the statutory requirement on chartered banks to hold reserves against certain of their deposit liabilities was reduced to zero in July 1994. Positions of members of Payments Canada with the Bank of Canada (formally B3) presents information consistent with the new framework for monetary policy implementation in the period after the inception of the Large Value Transfer System on 4 February 1999.

The Bank’s financial statements and accompanying notes are prepared in accordance with International Financial Reporting Standards (IFRS) and are presented in Canadian dollars. The Bank transitioned to reporting under IFRS effective 1 January 2011.

Additional information about the Bank’s assets and liabilities, including significant accounting policies, can be found in the notes to the financial statements which are included in the Annual Reports and Quarterly Financial Reports.

Government of Canada direct and guaranteed securities held by the Bank are purchased in the open market from investment dealers and chartered banks, or directly from the Receiver General for Canada. Prior to 10 November 1999, this category includes the amount of securities held under purchase and resale agreements (PRAs).

Provincial Money Market Securities consist of holdings acquired under the Provincial Money Market Purchase Program, an asset purchase facility that acquires provincially-issued money market securities through the primary issuance market.

Provincial Bonds consist of holdings acquired under the Provincial Bond Purchase Program, an asset purchase facility that acquires provincial bonds through a tender process in the secondary market.

Bankers’ Acceptances consist of holdings acquired under the Bankers’ Acceptance Purchase Facility, an asset purchase facility that acquires Bankers’ Acceptances in the secondary market.

Commercial Paper consist of holdings acquired under the Commercial Paper Purchase Program, an asset purchase facility that acquires commercial paper in the primary and secondary market.

Corporate Bonds consist of holdings acquired under the Corporate Bond Purchase Program, an asset purchase facility that acquires corporate bonds through a tender process in the secondary market.

Advances consist of overnight and long-term advances outstanding with members of Payments Canada. Prior to 1 December 1980, these were made only to chartered banks and Quebec savings banks.

Securities purchased under resale agreements (PRAs) is composed of overnight repurchase (repo) operations and term repo operations, in which the Bank purchases securities from designated counterparties with an agreement to sell them back at a predetermined price on an agreed transaction date.

Other investments consist mainly of investments in the shares of the Bank for International Settlements, and holdings of U.S. dollar-denominated securities.

All other assets consist of bank note inventory (production materials, including the polymer substrate, ink and foil), property, plant and equipment, intangible assets, any net defined-benefit asset related to the Bank of Canada Pension Plan, and all other non-financial assets, including prepaid expenses. This category also includes other bills, advances to the Government of Canada, and investment in the Inter-American Development Bank. Between 10 November 1999 and 27 December 2006, this category includes securities held under purchase and resale agreements (PRAs). Prior to 10 November 1999, PRAs are included in Government of Canada direct and guaranteed securities. Beginning 3 October 2007, PRAs are included in Securities purchased under resale agreements.

Notes in circulation include notes held by the chartered banks and by the general public. The total includes a small amount of notes issued by governments and banks before the Bank of Canada became the sole issuer of notes in circulation in Canada and took over the liability for these early notes from their original issuers.

Government of Canada deposits consist of operational balances as well as balances held for the prudential liquidity-management plan. Receipts and disbursements made by the Bank of Canada in performing its fiscal agency functions for the government are handled through this account. The Receiver General for Canada also maintains deposit accounts with the participants in the Large Value Transfer System (LVTS) and the direct clearers of Payments Canada.

Members of Payments Canada deposits is composed of the settlement account balances of Payments Canada members who are direct participants of the LVTS.

Other deposits is composed of deposits of other financial institutions, other organizations, and unclaimed balances remitted to the Bank in accordance with governing legislation. Unclaimed balances represent privately owned balances transferred by the chartered and savings banks because they have been unclaimed for 10 years.

Securities sold under repurchase agreements is composed of overnight reverse repurchase (repo) operations in which the Bank sells securities to designated counterparties with an agreement to repurchase them back at a predetermined price on an agreed transaction date. Beginning 27 July 2020, this category includes amounts related to the Securities Repo Operations program.

Derivatives – Indemnity agreements with the Government of Canada were entered into to address market fluctuations resulting from the Bank’s operations under the Government of Canada Bond Purchase Program, Provincial Bond Purchase Program, and Corporate Bond Purchase Program. Losses resulting from the sale of assets within these programs will be indemnified by the Government of Canada, whereas gains will be remitted. These gains and losses are calculated as the difference between the fair value of these instruments and their amortized cost.

Foreign currency liabilities include balances maintained by the federal government and by other central banks.

All other liabilities include the net defined-benefit liabilities for both the pension benefit plans and the other employee benefit plans, the lease liabilities, the net revenue payable to the Receiver General for Canada, and all other liabilities. Effective 1 January 2010, based on an agreement with the Minister of Finance, the Bank will deduct from its remittances an amount equal to unrealized losses on available-for-sale assets.

Capital includes the total of the paid-up capital ($5 million), statutory reserve ($25 million), special reserve, and investment revaluation reserve. At 31 December 1955, the statutory reserve had reached the maximum permitted under the Bank of Canada Act of five times the paid-up capital. Since then all of the net revenue has been remitted to the Receiver General for Canada. Following an amendment to section 27.1 of the Bank of Canada Act, the special reserve was created in 2007 to offset potential unrealized valuation losses due to changes in the fair value of the Bank’s investment portfolio. An initial amount of $100 million was established at that time, and the reserve is subject to a ceiling of $400 million.

  1. 1. The Bank accounts for all financial instruments using settlement-date accounting.[]
  2. 2. Includes Overnight Repo and Term Repo Operations.[]