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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 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.
The Canada Deposit Insurance Corporation was created 4 March 1967 [1] (under Schedule III, Part 1 of the Financial Administration Act and Canada Deposit Insurance Corporation Act). It is similar to the Federal Deposit Insurance Corporation in the United States. Since 1967, 43 financial institutions have failed in Canada and all 43 were members ...
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.
The Provincial Bank of Canada (French: Banque provinciale du Canada) was a Canadian bank that existed from 1861 to 1979. The bank was founded in Montreal as the Banque Jacques-Cartier, and on 7 May 1900 changed its name to the Banque provinciale. [1] [2] [3] [4]
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.