Corporate report

Exchange Equalisation Account: report and accounts 2020 to 2021

The Exchange Equalisation Account report and accounts for 2020 to 2021 have been published.

• From: HM Treasury
• Published: 15 July 2021

This was published under the 2019 to 2022 Johnson Conservative government

Documents

Exchange Equalisation Account: report and accounts 2020 to 2021

Ref: ISBN 978-1-5286-2724-5, 3144, HC 449

PDF, 850 KB, 64 pages

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Details

The Exchange Equalisation Account (EEA) is the account that holds the UK’s reserves of gold, foreign currencies and International Monetary Fund (IMF) Special Drawing Rights (SDRs). It was established in 1932 to provide a fund which could be used for checking undue fluctuations in the exchange value of sterling. Legislation since has extended the possible use of this fund; and under the consolidating Exchange Equalisation Account Act 1979, it may also be used:

• to secure the conservation or disposition in the national interest of making payments abroad
• for certain purposes arising out of the UK’s membership of the IMF, including the holding, purchase and sale of SDRs

Published 15 July 2021