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The Canadian banking industry includes 20 domestic banks, 24 foreign bank subsidiaries and 22 foreign bank branches operating in Canada. [9] ATB Financial, a financial institution owned by the Government of Alberta, and Canada's many credit unions, are not included in this list.
Banking in Canada began to migrate in earnest from colonial overseas banking operations to a local banking system with the founding of the Bank of Montreal in 1817. [6] Other banks soon followed and began business, and after a lengthy approval process began unregulated banking business.
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.
An Act to support and promote electronic commerce by protecting the personal information that is collected, used or disclosed in certain circumstances, by providing for the use of electronic means to communicate or record information or transactions, and by amending the Canada Evidence Act, the Statutory Instruments Act and the Statute Revision Act
Acts of the Parliament of the Dominion of Canada, 1873 to 1900 at Canadiana.org; Acts of the Parliament (of the Dominion) of Canada, 1901 to 1997 at the Internet Archive; Acts of the Parliament of Canada, 1987 to 2022 at the Government of Canada Publications catalogue. Official Justice Laws Website of the Canadian Department of Justice
Canadian securities regulation is managed through the laws and agencies established by Canada's 10 provincial and 3 territorial governments. Each province and territory has a securities commission or equivalent authority with its own provincial or territorial legislation.
Rogers Communications had an outage July 8 that affected many activities, including bank transactions.
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.