Bank of Canada and financial Institutions by Dhvani and Celene https://padlet.com/dhvani_bhayani/8qlzbkryq0za Learn about Bank of Canada and different types of financial institutions. en-us 2017-04-02 19:10:54 UTC 2025-05-15 18:57:13 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Growing.png Post #1 dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164187642 Information on Bank of Canada and financial Institutions by Dhvani Bhayani and Celene Mohammed]]> 2017-04-02 19:16:58 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164187642 Post #2 - Welcome Message dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164189320 Hello, our names are Dhvani Bhayani and Celene Mohammed. We will be touching on  various topics and information on Bank of Canada and the financial institutions. We will pose various images and videos talking about our topic which will give, if not a lot, at least a little bit of information on our topic. When we talk about Bank of Canada and the financial institutions the first thing that comes to our mind is financial system and the contribution it makes to Canada's economy.]]> 2017-04-02 19:35:56 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164189320 Post #3 - Image #1: First Bank of Canada (http://www.bankofcanada.ca/about/history/) dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164190125 Canada's central bank was found in 1934 and the Bank of Canada first opened in March 1935. This is the first office of the Bank of Canada located in Victoria Building, 140 Wellington Street, Ottawa. This image is relevant to our topic because the image shows how the first building of the Bank of Canada looked like. ]]> 2017-04-02 19:46:19 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164190125 Post #4 - Bank of Canada website (http://www.bankofcanada.ca/) dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164191655 This website gives you the information on what the bank does and who runs the Bank. It also gives you the information on who the governor is and the responsibilities they hold. It also has notices on how the market is running in Canada. For example, Ban of Canada publishes results of the Canadian Fixed-Income forum survey. It also talks about what E-money is how it is related to the Bank of Canada. One piece of information that i found useful on this website was that the basic information that you may want to know about Bank of Canada is on one website. ]]> 2017-04-02 20:05:34 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164191655 Post #5 - Core Functions (http://www.bankofcanada.ca/core-functions/) dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164199520 The core functions that The Bank of Canada provides are ;
  • Monetary Policy 
  • Financial System 
  • Currency 
  • Funds Management 
We will touch of the basic idea of each of the core functions.
]]> 2017-04-02 21:52:20 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164199520 Post #6 - About the Core Functions (http://www.bankofcanada.ca/core-functions/) dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164200364
  • Monetary Policy - The idea of monetary policy, is to keep inflation rates low by safeguarding the value of money. Canada's monetary policy uses to agencies the Inflation Control Target and Flexable Exchange Rate. 
    1. Inflation Control Rate - Helps The Bank make the best decision for setting the interest rates. By deciding the most appropriate interest rate, they are also aiming to maintain a balanced price environment. 
    2. Flexible Exchange Rate - It allows The Bank of Canada to go after the finest independent policy for Canada's economic circumstances by achieving the inflation rate 
  • Financial System - The Bank works with other agencies and market participants to promote and maintain the safe and efficient operation of the key elements of the financial system,They do so by; 
    1. Overseeing major clearing and settlement systems, also known as financial market infrastructures 
    2. Providing banking services to these systems and their participants 
    3. Giving policy advice to the federal government on the design and development of the financial systems 
  • Currency - The Bank of Canada is " the country's cold authority" for the design, production, and distribution of Canada's bank notes (money).
  • Funds Management - The Bank has many responsibilities, such as ; 
    1. Bank and Treasury Manager - The majority of money collected and spent by the government, goes through Canada's Receiver General. The Bank needs to establish that every account has enough cash in order meet their daily requirements. 
    2. Foreign Exchange Reserves - The Bank also manages foreign exchange reserves. "These reserves provide general liquidity for the government and help to promote orderly conditions in the Canadian-dollar foreign exchange market."
    3. Debt Management - Also know as domestic debt or federal debt. This is where The Bank advices the government on management of debt and selling the securities. 
    4. Retail Debt - Needs to provide information for the Department of Finance. Also responsible for implementing programs such as ; system support services, accounting, sales and marketing and including operations.
    • ]]>     2017-04-02 22:06:00 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164200364     Post #8 - Image #2: Financial Institution (http://www.investopedia.com/terms/f/financialinstitution.asp) dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164201706 What is Financial Institution? Financial Institutions is where dealing with monetary transactions, such as deposits, loans, investments, and currency exchange takes place. In financial institutions there are various operations within the financial services sector like banks, trust companies, insurance companies, investment dealers and etc. ]]> 2017-04-02 22:32:23 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164201706 Post #9 - Image #3: Types of financial Institutions (http://finance.mapsofworld.com/financial-institutions/types.html) dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164201744 This image names the type of financial institutions. Every institution has its own importance to it. the services that one financial institution provides may vary from one to another. Just to give an example, the types of services that are provided by the commercial banks would include insurance services, mortgages, loans, credit cards, and etc. ]]> 2017-04-02 22:33:24 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164201744 Post #7 - Video #1: (http://www.bankofcanada.ca/multimedia/bank-of-canada-count-on-us/) dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164201839 In this video, it explains the functions of The Bank of Canada. We like how it simply demonstrates how money works. Also the fact that they include people such as The Governor, Mark Carney to say some facts on The Bank of Canada. ]]> 2017-04-02 22:35:31 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164201839 Post # 10 - Video #2 dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164208512 When handling bank notes, you should know the key point on the note to insure whether the bill is fake or not. 
    For example the key points are;
    • Transparency of the bill through the windows 
    • Feel the smooth and texture of the polymer note, the raised ink n the shoulders, the large number, and The Bank of Canada text.
    • Frosted Maple leaf ( by looking through, using a light, you can see the amount of the bill)
    • Metallic symbols that matches the large portrait (changes in colour, while tilting up and down.)

    ]]>     2017-04-03 00:16:29 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164208512     Post #11 - Video #3 (https://www.youtube.com/watch?v=AKVPBrqhpRM) - Canadian Financial Institutions dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164211034 This video talks about what the bank act is. The Bank Act is the law that was passed by Parliament to regulate Canada's Chartered banks. There are 29 domestic banks, 24 foreign bank subsidiaries, 27 full-service foreign bank branches and 3 foreign bank lending branches operating in Canada. The financial institutions are parted int schedule I and schedule II banks. Schedule I includes banks that are domestic and are authorized under the bank act to accept deposits. Schedule II includes banks that are foreign bank subsidiaries authorized under the bank act to accept deposits. When talking about assets, deposits and capitalization, there are 5 banks that come first in the Canadian banking industry. All these banks come under the schedule I category of financial institutions. The five banks are, Scotiabank, Royal Bank of Canada (RBC), TD banks, CIBC bank, and BMO bank. One piece of information that i found useful in this video was to know how many domestic and foreign banks are in Canada. ]]> 2017-04-03 00:47:21 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164211034 Post #12: Word file with reflective questions answered dhvani_bhayani https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164303435 2017-04-03 12:22:21 UTC https://padlet.com/dhvani_bhayani/8qlzbkryq0za/wish/164303435