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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 ]
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In 1993, it sold its lease financing operations to GE Capital and acquired the assets of General Trust of Canada. A National Bank of Canada sign outside Exchange Tower in Toronto. In 1994, it made a small step outside Canada when it opened two branches in the United States, one in Florida and one in California. As of 2020, its Natbank ...
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It allows online banking customers to send money to anyone with an e-mail address or a cellphone number and a bank account in Canada. Prior to February 2018, this was an Interac-branded service operated by Acxsys Corporation. Interac e-Transfer service is designated as a prominent payment system and is subject to oversight by the Bank of Canada ...