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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 of Canada Act (French: Loi sur la Banque du Canada) is a statute that sets out the governance structure and powers of the Bank of Canada, which was created in 1934 as Canada's central bank. [1] Prior to 1934, Canada had no central bank and fragmented control of the banking system.
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 Montreal has been paying dividends to share holders every year since 1829 (196 years ago), [13] Scotiabank since 1833 (192 years ago), [13] Toronto-Dominion Bank since 1857 (168 years ago), [14] Canadian Imperial Bank of Commerce since 1868 (157 years ago) [15] and Royal Bank of Canada since 1870 (155 years ago) [16] respectively.
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Amendments to the Bank Act in 1991 allowed bank holding companies for the first time to acquire trust companies. Since 1991, most of Canada's major trust companies have been acquired by banks. Canadian trust companies with federal incorporations are regulated by the Trust and Loan Companies Act. [5]
Narcotic Control Act, 1961; Canada Labour Code, 1967; Criminal Law Amendment Act, 1968–69; Arctic Waters Pollution Prevention Act, 1970; Consumer Packaging and Labeling Act, 1970; Weights and Measures Act, 1970; Divorce Act, 1968 - replaced by Divorce Act, 1985; Canada Wildlife Act, 1973; National Symbol of Canada Act, 1975; Anti-Inflation ...
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 ...