Bank of Canada

Bank of Canada
Banque du Canada



Bank of Canada Building
HeadquartersBank of Canada Building
Ottawa, Ontario
Coordinates45°25′15″N 75°42′11″W / 45.42088°N 75.702968°W / 45.42088; -75.702968
Established3 July 1934 (legal)
11 March 1935 (1935-03-11) (began operations)
OwnershipMinister of Finance
on behalf of the Crown[1]
Governor of the Bank of CanadaTiff Macklem
Central bank ofCanada
CurrencyCanadian dollar
CAD (ISO 4217)
Reserves69 080 million USD[2]
Bank rate5.00%[3]
Interest on reserves3.25%
Websitewww.bank-banque-canada.ca

The Bank of Canada (BoC; French: Banque du Canada) is a Crown corporation and Canada's central bank.[4] Chartered in 1934 under the Bank of Canada Act, it is responsible for formulating Canada's monetary policy,[5] and for the promotion of a safe and sound financial system within Canada.[6] The Bank of Canada is the sole issuing authority of Canadian banknotes,[7][8] provides banking services and money management for the government, and loans money to Canadian financial institutions.[9][10] The contract to produce the banknotes has been held by the Canadian Bank Note Company since 1935.

The Bank of Canada headquarters are located at the Bank of Canada Building, 234 Wellington Street in Ottawa, Ontario. The building also used to house the Bank of Canada Museum, which opened in December 1980 and temporarily closed in 2013. As of July 2017, the museum is now located at 30 Bank Street, Ottawa, Ontario, but is connected to the main buildings through the Bank of Canada's underground meeting rooms.[11]

  1. ^ "Band of Canada Act" (PDF). Archived (PDF) from the original on 23 February 2020.
  2. ^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  3. ^ "Policy interest rate".
  4. ^ "Lender of Last Resort". Bank of Canada. Retrieved 20 March 2013.
  5. ^ OECD. OECD Economic Surveys: Canada 2000. OECD Publishing; 30 August 2000. ISBN 978-92-64-17701-7. p. 45–.
  6. ^ Financial Stability and Central Banks: A Global Perspective. Routledge; November 2002. ISBN 978-1-134-51636-0. p. 41–.
  7. ^ Gene Swimmer. How Ottawa Spends, 1996-97: Life Under the Knife. MQUP; 15 May 1996. ISBN 978-0-7735-9589-7. p. 379–.
  8. ^ "Banknote Printing and Currency Processing". Giesecke & Devrient (G&D). Archived from the original on 30 March 2016. Retrieved 20 March 2013.
  9. ^ "Funds Management". Bank of Canada. Retrieved 20 March 2013.
  10. ^ "Frequently Asked Questions—What does the Bank do?". Bank of Canada. Archived from the original on 11 March 2013. Retrieved 20 March 2013.
  11. ^ "About the Museum". Bank of Canada. Archived from the original on 13 May 2013. Retrieved 20 March 2013.

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