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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]
The bank was required to provide to the Minister of Finance each Wednesday a statement of assets and liabilities, which was published the following week in the Canada Gazette. The bank became a government-owned corporation in 1938. [12] Amendments to the Act allowed the Bank of Canada to divide the capital of the bank into one hundred thousand ...
In turn, these are further divided into departments, agencies, and other organizations which support the day-to-day function of the Canadian state. The list includes roughly 130 departments and other organizations, with nearly 300,000 employees, who collectively form the Public Service of Canada. Special Operating Agencies (which are ...
This category includes departments, agencies, and crown corporations created by the government or Parliament of Canada by statute or regulation. It does not include the Governor General of Canada, the Parliament of Canada, or the federal courts of Canada (see Court system of Canada).
In addition to being the head of the Department of Finance, the minister of finance is also the minister responsible for: Bank of Canada; Canada Deposit Insurance Corporation; Canada Development Investment Corporation; Canada Pension Plan Investment Board; Canadian International Trade Tribunal; Office of the Superintendent of Financial Institutions
1925 – the Office of the Inspector General of Banks was established in response to the Home Bank failure and was responsible for regulating Canada's chartered banks. Early 1930s – Royal Commission on Banking and Currency reviewed banking and currency issues in the Canadian financial system.
In 2007, the Government of Canada provided FCAC with an additional $3 million for the creation of the Financial Literacy Initiative. In 2009, new federal legislation gave FCAC oversight over payment card network operators. On July 11, 2010, amendments to the Financial Consumer Agency of Canada Act further expanded FCAC’s role in four areas:
Bank of Canada (1 C, 5 P) C. Directors of Canada Infrastructure Bank (4 P) Canada Pension Plan (2 C, 2 P) Canada Post (3 C, 18 P) Canadian Broadcasting Corporation ...