With these new notes, Canadians can have full confidence in their currency. Delivering confidence in our funds management The second area of our focus is much less visible to most Canadians. As the fiscal agent of the federal government, the Bank of Canada provides advice and administers the government’s debt and reserves – and demonstrates global leadership in these realms.
Innovative work is being done, for example, to reduce the reliance on external credit-rating agencies in the management of the government’s assets and liabilities. There is a lot of money at stake. In 2012, the Bank managed Government of Canada daily cash balances averaging about $ billion. We also managed, on behalf of the government, official international reserves amounting to about $ billion.