Search results
Results from the WOW.Com Content Network
The Canadian banking industry includes 20 domestic banks, 24 foreign bank subsidiaries and 22 foreign bank branches operating in Canada. [9] ATB Financial , a financial institution owned by the Government of Alberta , and Canada's many credit unions, are not included in this list.
The bank regulator is the Office of the Superintendent of Financial Institutions (best known as OSFI), [21] whose authority stems from the Bank Act. [20] The financial groups are also governed by regulatory bodies (bank regulators, securities regulators, insurance regulators, etc.) in each country in which they operate.
Under Section 25, these notes (known as legal tender) could be converted to gold at the head office in Ottawa, in the form of bars containing approximately four hundred ounces of gold. [7] The bank continues in the current Act to be the sole institution to issue notes. The bank must provide an adequate supply as required for circulation in ...
Unemployment and Farm Relief Act, 1931; Bank of Canada Act, 1934; Public Works Construction Act, 1934; Succession to the Throne Act, 1937; National Housing Act, 1938; National Resources Mobilization Act, 1940; Family Allowance Act, 1945; Canadian Citizenship Act, 1946; Canadian Overseas Telecommunication Corporation Act, 1948
the Insurance Companies Act [4] the Trust and Loan Companies Act [5] the Cooperative Credit Associations Act [6] the Green Shield Canada Act; the Payment Card Networks Act [2] the Financial Consumer Agency of Canada Act. [1] In cases of contravention or non-compliance with legislation, FCAC notifies the federally regulated financial entity of a ...
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 Canada Infrastructure Bank was announced by the Finance Minister, Bill Morneau, during the 2016 fall economic update. This was based on a campaign promise made by the Liberal Party during the 2015 Canadian federal election. The bank was officially established in June 2017, when the Canada Infrastructure Bank Act received royal assent. The ...
The Canadian banking system is regulated in part by the Office of the Superintendent of Financial Institutions who can, in an extreme case, close a financial institution. Alongside Canada's mortgage rules, the risk of bank failures similar to the US are slim, but not impossible. [3]