TERMIUM Plus^®

Record 1,  Textual support,  English

Record number: 1, Textual support number: 1 DEF

A special account established in the name of the Minister of Finance to aid in the control and protection of the external value of the [Canadian dollar].  3, record 1, English, - Exchange%20Fund%20Account

Record number: 1, Textual support number: 1 CONT

The Exchange Fund Account(EFA), managed by the Minister of Finance on behalf of the Government of Canada, represents the largest component of Canada's official international reserves. It is a portfolio of Canada's liquid foreign exchange reserves and special drawing rights available to aid in the control and protection of the external value of the Canadian dollar and as a source of liquidity to the government, if needed.  2, record 1, English, - Exchange%20Fund%20Account

Record number: 1, Textual support number: 1 OBS

Exchange Fund Account: designation extracted from the "Glossaire de l’économie" and reproduced with permission of the Organisation for Economic Co-operation and Development.  4, record 1, English, - Exchange%20Fund%20Account

Record 1,  Textual support,  French

Record number: 1, Textual support number: 1 DEF

Compte spécial ouvert au nom du ministre des Finances en vue d'aider à contrôler et à préserver la valeur externe du dollar canadien sur les marchés internationaux.  3, record 1, French, - Compte%20du%20fonds%20des%20changes

Record number: 1, Textual support number: 1 CONT

Le Compte du fonds des changes (CFC), géré par le ministre des Finances au nom du gouvernement du Canada, représente la plus importante composante des réserves officielles de liquidités internationales du Canada. Il s'agit d'un portefeuille des réserves officielles de liquidités internationales du Canada et des droits de tirage spéciaux pouvant servir à favoriser le contrôle et la protection de la valeur externe du dollar canadien et à fournir une source de liquidités au gouvernement, au besoin.  2, record 1, French, - Compte%20du%20fonds%20des%20changes

Record number: 1, Textual support number: 1 OBS

Compte du fonds des changes : désignation extraite du «Glossaire de l'économie» et reproduite avec l'autorisation de l'Organisation de coopération et de développement économiques.  4, record 1, French, - Compte%20du%20fonds%20des%20changes

Record 1,  Textual support,  Spanish

Record 2,  Textual support,  English

Record number: 2, Textual support number: 1 DEF

Entries in a nation's balance of payments account showing financial flows related to international direct investment, investment in government and private securities, international bank transactions, and changes in official gold holdings and foreign exchange reserves.  2, record 2, English, - capital%20account

Record number: 2, Textual support number: 1 CONT

The capital account records the values of the non-financial assets that are acquired, or disposed of, by resident institutional units by engaging in transactions, and shows the change in net worth due to saving and capital transfers or internal bookkeeping transactions linked to production (changes in inventories and consumption of fixed capital).  3, record 2, English, - capital%20account

Record 2,  Textual support,  French

Record number: 2, Textual support number: 1 DEF

Compte statistique de la balance des paiements récapitulant les flux financiers liés aux investissements étrangers directs, les investissements dans les titres publics et privés, les transactions bancaires internationales et les mouvements dans les stocks publics d'or et les réserves de devises.  3, record 2, French, - compte%20de%20capital

Record number: 2, Textual support number: 1 CONT

Le solde du compte capital constitue la différence entre les investissements nationaux à l'étranger et les investissements étrangers au pays.  4, record 2, French, - compte%20de%20capital

Record 2,  Textual support,  Spanish

Record number: 2, Textual support number: 1 DEF

Cuenta de la balanza de pagos que refleja los movimientos de capitales correspondientes a las inversiones directas en el extranjero, las inversiones en títulos públicos y privados, las operaciones bancarias internacionales y las variaciones de las reservas públicas en oro y divisas.  2, record 2, Spanish, - cuenta%20de%20capital

Record 3,  Textual support,  English

Record number: 3, Textual support number: 1 DEF

Stocks of foreign exchange assets(e. g., interest earning bonds) held by sovereign states to support the value of the domestic currency. Canada's foreign exchange reserves are held in a special account called the Exchange Fund Account.  4, record 3, English, - foreign%20exchange%20reserve

Record number: 3, Textual support number: 2 DEF

Gold and currencies held by a central bank.  5, record 3, English, - foreign%20exchange%20reserve

Record number: 3, Textual support number: 1 PHR

Depletion of foreign exchange reserves, falling foreign exchange reserves, strong foreign exchange reserves.  5, record 3, English, - foreign%20exchange%20reserve

Record number: 3, Textual support number: 1 OBS

Foreign exchange reserve, exchange reserve and reserve of foreign exchange: terms usually used in the plural.  6, record 3, English, - foreign%20exchange%20reserve

Record 3,  Textual support,  French

Record number: 3, Textual support number: 1 DEF

Avoirs libellés en devises étrangères (p. ex., obligations portant intérêt) que détiennent les États souverains pour soutenir la valeur de la monnaie nationale. Les réserves de change du Canada sont détenues dans un compte spécial appelé Compte du Fonds des changes.  4, record 3, French, - r%C3%A9serve%20de%20change

Record number: 3, Textual support number: 2 DEF

L'or et les devises détenues par une banque centrale.  5, record 3, French, - r%C3%A9serve%20de%20change

Record number: 3, Textual support number: 1 OBS

Réserve de change, réserve de devises, réserve en devises : termes habituellement au pluriel.  6, record 3, French, - r%C3%A9serve%20de%20change

Record number: 3, Textual support number: 1 PHR

Épuisement des réserves, affaiblissement des réserves de devises étrangères, importantes réserves de devises.  5, record 3, French, - r%C3%A9serve%20de%20change

Record 3,  Textual support,  Spanish

Record number: 3, Textual support number: 1 DEF

Las reservas de oro y monedas extranjeras que conserva un país para financiar cualquier reclamación que soliciten sus acreedores para el pago de una deuda.  3, record 3, Spanish, - reserva%20de%20divisas

Record number: 3, Textual support number: 1 CONT

agotamiento de la reserva de divisas, disminución de la reserva de divisas, importantes reservas de divisas  3, record 3, Spanish, - reserva%20de%20divisas

Record 4,  Textual support,  English

Record number: 4, Textual support number: 1 CONT

WTO [World Trade Organization] members may use [the article on] restrictions to safeguard the balance of payments... to impose import restrictions to shore up deteriorating foreign exchange reserves.  2, record 4, English, - safeguard%20the%20balance%20of%20payments

Record 4,  Textual support,  French

Record number: 4, Textual support number: 1 CONT

[Les] membres de l'OMC [Organisation mondiale du commerce] peuvent recourir à l'article [portant sur les] restrictions destinées à protéger l'équilibre de la balance des paiements [...] pour imposer des restrictions à l'importation en vue de consolider des réserves en devises qui se détériorent.  2, record 4, French, - prot%C3%A9ger%20l%27%C3%A9quilibre%20de%20la%20balance%20des%20paiements

Record 4,  Textual support,  Spanish

Record 5,  Textual support,  English

Record number: 5, Textual support number: 1 DEF

Currency with an international foreign exchange rate that is higher than expected, in light of macroeconomic parameters(inflation, balance of payments, level of reserves, interest rates, etc.).  1, record 5, English, - overvalued%20currency

Record number: 5, Textual support number: 1 CONT

So long as our dollar costs tended to be high all around, the American currency could be called an "overvalued currency". A country with an overvalued currency tends to incur international deficits, to be undersold in most goods, to have capital outflow, and to be threatened with high unemployment and excess capacity.  2, record 5, English, - overvalued%20currency

Record number: 5, Textual support number: 1 OBS

overvalued currency: term and definition reproduced from the CAPITAL Business Dictionary with the permission of LID Editorial Empresarial.  3, record 5, English, - overvalued%20currency

Record 5,  Textual support,  French

Record number: 5, Textual support number: 1 DEF

Devise dont le taux de change sur les marchés internationaux de devises est supérieur à celui dont on pourrait s'attendre étant donné les paramètres macro-économiques du pays en question (taux d'inflation relatif, solde de la balance des paiements, niveau des réserves, taux réels d'intérêts, etc.).  2, record 5, French, - monnaie%20sur%C3%A9valu%C3%A9e

Record number: 5, Textual support number: 1 OBS

monnaie surévaluée : terme et définition extraits du CAPITAL Business Dictionary et reproduits avec l'autorisation de LID Editorial Empresarial.  3, record 5, French, - monnaie%20sur%C3%A9valu%C3%A9e

Record 5,  Textual support,  Spanish

Record number: 5, Textual support number: 1 DEF

Divisa cuyo tipo de cambio en los mercados internacionales de divisas es superior al que se podría esperar dados los parámetros macroeconómicos del país en cuestión (tase de inflación relativa, saldo de la balanza de pagos, nivel de reservas, tipos reales de interés, etc.).  1, record 5, Spanish, - moneda%20sobrevalorada

Record number: 5, Textual support number: 1 OBS

moneda sobrevalorada: término y definición extraídos del CAPITAL Business Dictionary con la autorización de LID Editorial Empresarial.  2, record 5, Spanish, - moneda%20sobrevalorada

Record 6,  Textual support,  English

Record number: 6, Textual support number: 1 CONT

An increase in the foreign interest rate reduces the demand for domestic bond... As long as the domestic interest rate is constant, an increase in the foreign interest rate raises the public' s demand for foreign currency and leids either to depreciation or to loss of foreign exchange reserves...  3, record 6, English, - foreign%20interest%20rate

Record 6,  Textual support,  French

Record number: 6, Textual support number: 1 CONT

Confrontée par exemple à une hausse soudaine des taux d'intérêts à l'étranger, une banque centrale pouvait être forcée de vendre des actifs intérieurs et d'élever son propre taux d'intérêt pour assurer la stabilité de ses réserves internationales.  2, record 6, French, - taux%20d%27int%C3%A9r%C3%AAt%20%C3%A0%20l%27%C3%A9tranger

Record 6,  Textual support,  Spanish

Record 7,  Textual support,  English

Record number: 7, Textual support number: 1 CONT

Pegging the exchange rate to the dollar does not make monetary policy credible, as the resounding disaster in Mexico makes clear.... monetary policy was too loose in 1994 and was inconsistent with the peso pegged at 3. 5 to the dollar. Foreign reserves left the country until the peg had to be abandoned.  1, record 7, English, - peg%20the%20exchange%20rate%20to%20the%20dollar

Record 7,  Textual support,  French

Record 7,  Textual support,  Spanish

Record 8,  Textual support,  English

Record number: 8, Textual support number: 1 OBS

Asian Clearing Union(ACU) is the simplest form of payment arrangements whereby the members settle payments for intra-regional transactions among the participating central banks on a multilateral basis. The main objectives of a clearing union are to facilitate payments among member countries for eligible transactions, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.  1, record 8, English, - Asian%20Clearing%20Union

Record 8,  Textual support,  French

Record 8,  Textual support,  Spanish

Record 9,  Textual support,  English

Record number: 9, Textual support number: 1 CONT

... a former Bank of England economist who now runs his own forex consultancy, traitorously bit the hand that once used to feed him. Through London's Centre for the Study of Financial Innovation, he expounded a plan for stripping central banks of all those gold and foreign exchange reserves... which they use to finance secretive, and sometimes costly, forays into the foreign exchange markets.  1, record 9, English, - forex%20consultancy

Record 9,  Textual support,  French

Record number: 9, Textual support number: 1 CONT

Un ancien économiste de la Banque d'Angleterre, qui dirige maintenant sa propre société de conseil dans le domaine des changes, s'est, lui aussi, montré d'une grande ingratitude envers cette institution. Il a exposé au Centre d'études d'innovation financière de Londres un plan destiné à dépouiller les banques centrales des réserves en or et en devises [...] qu'elles utilisent pour financer des incursions discrètes et quelquefois coûteuses sur les marchés de change.  1, record 9, French, - soci%C3%A9t%C3%A9%20de%20conseil%20dans%20le%20domaine%20des%20changes

Record 9,  Textual support,  Spanish

Record 10,  Textual support,  English

Record number: 10, Textual support number: 1 DEF

The accounts recording the financial claims and financial obligations identified with the foreign exchange operations of the Government of Canada.  2, record 10, English, - foreign%20exchange%20accounts

Record number: 10, Textual support number: 1 OBS

Foreign exchange accounts include : International reserves held in the Exchange Fund Account, International Monetary Fund-Subscriptions; less International Monetary Fund-Notes payable, and Special Drawing Rights allocations.  3, record 10, English, - foreign%20exchange%20accounts

Record number: 10, Textual support number: 2 OBS

foreign exchange accounts: Officially approved by the Study Group on Accounting Terminology (SGAT).  4, record 10, English, - foreign%20exchange%20accounts

Record 10,  Textual support,  French

Record number: 10, Textual support number: 1 DEF

Comptes dans lesquels on enregistre les créances et les dettes nées des opérations de l'État canadien concernant les monnaies étrangères.  2, record 10, French, - comptes%20d%27op%C3%A9rations%20de%20change

Record number: 10, Textual support number: 1 OBS

Sont compris dans les comptes d'opérations de change : Réserves internationales détenues dans le Compte du fonds des changes, Fonds monétaire international - Souscriptions; Moins : Fonds monétaire international - Effets à payer, et Répartition de Droits de tirage spéciaux.  3, record 10, French, - comptes%20d%27op%C3%A9rations%20de%20change

Record number: 10, Textual support number: 2 OBS

comptes d'opérations de change : Terme uniformisé par le GETC, Groupe d'étude de la terminologie comptable.  4, record 10, French, - comptes%20d%27op%C3%A9rations%20de%20change

Record 10,  Textual support,  Spanish

Record 11,  Textual support,  English

Record number: 11, Textual support number: 1 CONT

Problems arising from the short-lived currency union with Slovakia have resulted in a depletion of foreign exchange reserves which should prove temporary.  2, record 11, English, - depletion%20of%20reserves

Record 11,  Textual support,  French

Record number: 11, Textual support number: 1 CONT

Les problèmes posés par la brève union monétaire avec la Slovaquie ont engendré un épuisement, probablement temporaire, des réserves.  2, record 11, French, - ass%C3%A8chement%20des%20r%C3%A9serves

Record 11,  Textual support,  Spanish

Record 12,  Textual support,  English

Record number: 12, Textual support number: 1 CONT

The level of foreign reserves is a measure of foreign exchange liquidity. An increase in the reserves shows a positive overall balance.  1, record 12, English, - foreign%20exchange%20liquidity

Record 12,  Textual support,  French

Record number: 12, Textual support number: 1 CONT

Les réserves en devises permettent de mesurer les liquidités du pays en devises. Une augmentation de ces réserves donne une balance globale positive.  1, record 12, French, - liquidit%C3%A9%20en%20devises

Record 12,  Textual support,  Spanish

Record 13,  Textual support,  English

Record number: 13, Textual support number: 1 CONT

Despite strong foreign exchange reserves, the government sought some bilateral deferral of external debt payments for 1992 and 1993.  1, record 13, English, - external%20debt%20payment

Record 13,  Textual support,  French

Record number: 13, Textual support number: 1 CONT

Malgré d'importantes réserves de devises, le gouvernement a sollicité un report bilatéral des paiements de la dette extérieure pour 1992 et 1993.  1, record 13, French, - paiement%20de%20la%20dette%20ext%C3%A9rieure

Record 13,  Textual support,  Spanish

Record 14,  Textual support,  English

Record number: 14, Textual support number: 1 CONT

Despite strong foreign exchange reserves, the government sought some bilateral deferral of external debt payments for 1992 and 1993.  1, record 14, English, - bilateral%20deferral

Record 14,  Textual support,  French

Record number: 14, Textual support number: 1 CONT

Malgré d'importantes réserves de devises, le gouvernement a sollicité un report bilatéral des paiements de la dette extérieure pour 1992 et 1993.  1, record 14, French, - report%20bilat%C3%A9ral

Record 14,  Textual support,  Spanish

Record 15,  Textual support,  English

Record number: 15, Textual support number: 1 CONT

[Bulgaria] has ended multiple currency practices, created an interbank foreign exchange market, and its reserves have increased dramatically.  1, record 15, English, - interbank%20foreign%20exchange%20market

Record 15,  Textual support,  French

Record number: 15, Textual support number: 1 CONT

Les pratiques de taux de change multiples ont été abandonnées, un marché des changes interbancaire a été créé et les réserves de la Bulgarie se sont considérablement accrues.  1, record 15, French, - march%C3%A9%20de%20changes%20interbancaire

Record 15,  Textual support,  Spanish

Record 16,  Textual support,  English

Record number: 16, Textual support number: 1 CONT

During World War I most countries suspended the redeemability of their currencies into gold..., withdrew gold coins from circulation, and concentrated gold holdings in official reserves. The currencies of most belligerent countries did not, however, depreciate by much in terms of gold and the dollar because of official pegging operations supported by gold sales, foreign borrowing, liquidation of assets abroad, and imposition of some import and exchange controls. At the end of the war the United States was virtually the only country on a full gold standard.  1, record 16, English, - full%20gold%20standard

Record 16,  Textual support,  French

Record 16,  Textual support,  Spanish

Record 17,  Textual support,  English

Record number: 17, Textual support number: 1 CONT

In order to isolate the direct effects of intervention operations on the exchange market from those of monetary policy operations, the Working Group considered the distinction between sterilised and unsterilised intervention... If, on the other hand, the change in the authorities’ net foreign currency assets is accompanied by a corresponding change in their monetary liabilities(so that, for instance, a reduction in foreign currency reserves would result in a reduction in the monetary base), the intervention is said to be unsterilised.  1, record 17, English, - unsterilised%20intervention

Record 17,  Textual support,  French

Record number: 17, Textual support number: 1 CONT

Afin d'isoler les effets directs des interventions sur le marché des changes, de ceux produits par les actions de politique monétaire, le groupe de travail a examiné la distinction entre interventions stérilisées et non stérilisées. (...) Si, au contraire, la modification des avoirs nets en devises s'accompagne d'une modification correspondante des engagements de caractère monétaire des autorités monétaires (par exemple, une diminution des réserves de change se traduisant par une diminution de la base monétaire), on dit que l'intervention est «non stérilisée».  1, record 17, French, - intervention%20non%20st%C3%A9rilis%C3%A9e

Record 17,  Textual support,  Spanish

Record 18,  Textual support,  English

Record number: 18, Textual support number: 1 OBS

(assets) official holdings of gold and foreign exchange; réserves officielles d’or et de change étranger  1, record 18, English, - canadian%20dollar%20holdings%20of%20foreigners

Record 18,  Textual support,  French

Record number: 18, Textual support number: 1 OBS

BM 31 mai/67  1, record 18, French, - avoirs%20en%20dollars%20canadiens%20des%20%C3%A9trangers

Record 18,  Textual support,  Spanish