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Country or currency union Central bank interest rate (%) Change Effective date of last change Average inflation rate 2017–2021 (%) by WB and IMF [1] [2] as in the List Central bank interest rate
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 ]
Provincial Bank of Canada: 1861 1979 Founded as la Banque Jacques Cartier, [155] before renaming in 1900 as la Banque Provinciale du Canada in 1900. [156] Merged with Banque Canadienne Nationale to become National Bank of Canada. [82] Provincial Bank of Canada in Stanstead 1856 1863 Closed. [157] Quebec Bank: 1818 1917 Merged into the Royal ...
The Banque et Caisse d'Épargne de l'État (French pronunciation: [bɑ̃k e kɛs depaʁɲ də leta], State Bank and Savings Bank), also known by its Luxembourgish name Spuerkeess (lit. ' Savings Bank ' ), is the leading national financial institution founded in 1856 and governed by the law of 24 March 1989.
In 1998, the Bank of Montreal proposed a merger with the Royal Bank of Canada around the same time that CIBC proposed to combine with the Toronto-Dominion Bank. [23] The banks argued that these mergers would enable them to compete globally with other financial institutions. [33] This would have left Canada with only three major national banks.
In 1970, the bank acquired the Banque populaire, which had been founded in 1848 as the Caisse d'économie de Notre-Dame de Québec. In 1977 it acquired the Unity Bank of Canada, a small Toronto bank founded in 1972. It merged with the Banque Canadienne Nationale to form the National Bank of Canada in 1979. [5]
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.
Louis Vachon CM (French: [lu.i vaʃɔ̃]; born 1962) is a Canadian banker, financier, and business executive.He is currently the chief executive officer of National Bank of Canada, the 6th largest bank in Canada.