# data[].attributes.headline
Bank of Canada and Financial Institutions

# data[].attributes.subject
Bank of Canada and Financial Institutions

# data[].attributes.body
By Chelsea Nyblom

# data[].attributes.body
The bank of Canada is the central bank to the nation. It is responsible for formulating the monetary system in Canada. The financial institutions within Canada are responsible for each customers daily banking needs.

# data[].attributes.body
The bank of Canada is the nation's central bank. It is responsible for currency, funds management, financial system and it also conduct/enforce the monetary policies. The principal role the bank of Canada has it to "promote the economic and financial welfare of Canada". The Bank of Canada is operated and run by the Governing Council. The persons in charge of the bank and its operations are committed to publishing documents that describe the processes and acts in which they follow. This ensures a line of communication between those whom run the bank and the citizens of Canada.

# data[].attributes.attachment_link.readable_text
Separate from the Political Process

The Bank of Canada is a special type of Crown corporation, owned by the federal government, but with considerable independence to carry out its responsibilities. For example:

The Governor and Senior Deputy Governor are appointed by the Bank's Board of Directors (with the approval of Cabinet), not by the federal government.

The Deputy Minister of Finance sits on the Board of Directors but has no vote.

The Bank submits its expenditures to its Board of Directors. Federal government departments submit theirs to the Treasury Board.

Bank employees are regulated by the Bank itself, not by federal public service agencies.

The Bank's books are audited by external auditors appointed by Cabinet on the recommendation of the Minister of Finance, not by the Auditor General of Canada.

Having an independent monetary institution allows for the separation of the power to spend money from the power to create money. Separating the central bank from the political process enables it to adopt the medium- and long-term perspectives essential to conducting effective monetary policy.

The Bank is committed to publishing information about how it works.

Reports, statements, public surveys and plans are available in the governance documents section.

# data[].attributes.attachment_link.description
The Bank of Canada is a special type of Crown corporation, owned by the federal government, but with considerable independence to carry out its responsibilities. For example: The Governor and Senior Deputy Governor are appointed by the Bank's Board of Directors (with the approval of Cabinet), not by the federal government.

# data[].attributes.body
This video is the press release of the monetary policy of 2018. Each year the Bank of Canada releases its new monetary policies for Canadians to know. These releases are the communication lines between the Bank of Canada and the citizens of Canada.

# data[].attributes.attachment_link.title
Release of the Monetary Policy Report / Publication du Rapport sur la politique monétaire

# data[].attributes.body
This interview is based on the interest rates and the amount of debt that Canadians are in. This is a growing concern as there is a federal investigation into the Canadian banks and how much they are lending and to whom they are lending to. It is interesting because 85% of Canadian citizens put our trust and money into these 5 major banking institutions.

# data[].attributes.attachment_link.title
Why are the big five Canadian banks being investigated? | Your Morning

# data[].attributes.body
This website include information on the top five financial institutions in Canada. These banks include RBC, Toronto-Dominion, Scotiabank, BMO and Cibc. These banks make up 85% of the Canadian banking industry. These banks rise above others for their assets, deposits and capitalization. These banking institutions rank in order of largest to smallest in regards to assets, deposits, branches and employees.

# data[].attributes.attachment_link.description
The Big Five Banks in Canada - RBC, TD Bank, Scotiabank, BMO, CIBC

# data[].attributes.body
The Bank of Canada is responsible for more then just the logistics of banking, they are also responsible for creating new bank notes. These bank notes have to be difficult to counterfeit yet also easy to authenticate. Whilst trying to maintain the practice of creating currency the Bank of Canada also focuses on the quality of the bank notes throughout its life cycle. This process is watched carefully from the beginning and throughout its life cycle. The Bank of Canada is also the only institution that is able to legally destroy bank notes at the end of their life cycle.

# data[].attributes.attachment_link.readable_text
Issuance of bank notes

Design and production

Through our ongoing research and development, we issue bank notes with improved security features to stay ahead of counterfeiting threats.

It takes several years to design and issue a new bank note. We're guided by a set of design principles that ensures that our new notes:

offer enhanced security

are functional and usable in cash-handling machines

are recognizable, accessible and bilingual

reflect Canada

As part of the design process, we consult Canadians on the visual content-which includes the theme, subject matter and images to appear on a new note. We also work closely with many stakeholder groups to prepare and facilitate a new note's introduction.

Every note is a combination of art and technology. The printing is contracted to Canadian Bank Note Company, a private-sector security printer. Notes are printed 45 to a sheet, cut and inspected, and then delivered to the Bank.

Distribution and quality

Through Canada's Bank Note Distribution System, we supply financial institutions with the bank notes they need to satisfy public demand.

We also control the flow and quality of notes. From printing new bank notes to monitoring those that are already in circulation, we ensure that notes handled in day-to-day transactions are of good quality so that they are easy for Canadians to verify and use.

All bank notes received at our operations centres are inspected on high-speed note-processing equipment. When they become worn or damaged, polymer notes are shredded and then recycled.

Education and awareness

We promote the routine verification of bank notes. To do this, we deliver currency training and education to law enforcement, financial institutions, retailers and the public.

Education and awareness are an important part of the mandate of our regional offices in Vancouver, Calgary, Toronto, Montréal and Halifax. These offices serve as contact points for stakeholders requiring assistance to access the services we offer.

Counterfeit deterrence

We advocate counterfeit deterrence through law enforcement and the courts. Often, we partner with police to teach Canadians why it's important to check their bank notes.

Legal tools are also available to help Crown prosecutors bring counterfeiters to justice.

Research on cash and digital currencies

We undertake research to understand the Canadian payments landscape.

Our research includes ongoing work to understand the demand for and use of cash, as well as the use and evolution of digital currencies and fintech.

# data[].attributes.attachment_link.description
The Bank of Canada is the country's sole authority for issuing bank notes and is responsible for the design, production and distribution of Canada's bank notes.

# data[].attributes.body
With nearly $560 billion in assets, $390 billion in deposits and more than 1100 institutions this makes TD Canada's second largest banking institution. TD Canada Trust was founded on February 1, 1955 in Toronto.

# data[].attributes.body
This video shows the process in which money is made. It is interesting to see the scale in which it is made and to know that the counterfeit measures in which they use in the money can uphold through the process of making it.

# data[].attributes.body
The Bank of Nova Scotia falls 3rd within the big five institutions in Canada, with assets of $500 billion, deposits of $350 billion and 1000 branches. The bank of Nova Scotia was founded in 1832 in Halifax Regional Municipality.

# data[].attributes.body
Royal Bank of Canda is the top institution in Canada. This bank has a total of $655 billion in assets, approx $400 billion in deposits and almost 1200 branches nation wide. It is interesting to see these numbers and how your small amount can contribute to this large amount.

# data[].attributes.attachment_link.title
Bank of Canada and the Financial Institutions