234 Wellington Street
Located at 234 Wellington Street, across from Parliament Hill, this site has been the Bank’s home since 1938. Highly specialized duties essential to the functioning of the Canadian economy are performed at the Bank’s head office, including $15 billion in payments processed daily by the Bank within the large-value payments system, and the management of more than $600 billion in federal government debt and $68 billion in foreign reserves.
Staff based at the head office also perform leading-edge economic and financial analysis to guide the conduct of monetary policy and promote financial stability, contributing to the Bank’s fulfillment of its mandate to promote the economic and financial welfare of Canada.
Head Office Renewal Program
In 2012, the Board of Directors approved a plan to renew the Bank’s head office complex in Ottawa. Demolition and construction began in 2014 and is expected to be finished in 2016. While construction is under way, Bank staff have relocated to 234 Laurier Avenue West in Ottawa.
The Head Office Renewal Program is the Bank’s largest infrastructure project since the two glass office towers were built in the 1970s. It involves the modernization of the Bank of Canada’s head office complex, including a complete overhaul of all systems, as well as renovation of the building, over a three-year construction period. The project follows an ambitious timeline, and the Bank is committed to meeting this timeline with effective governance, sound financial management, and in a way that preserves the architectural heritage and integrity of the original buildings.
Comprehensive analysis by both Bank staff and external experts determined that the head office facility was in need of extensive renovation and upgrading to align with modern requirements for health and safety standards and seismic stability, and to better meet the Bank’s evolving security and business requirements. Renewing the head office is also an opportunity to make it more energy efficient, cost effective and environmentally sustainable. The estimated cost of the construction is $460 million.
Canada’s central bank was founded in 1934. Since then, the Bank of Canada Act has been amended many times, but the preamble to the Act has not changed. The Bank still exists "to regulate credit and currency in the best interests of the economic life of the nation." Find out more about the Bank’s past, how it has worked and who shaped it in the history section.
Find out about past Governors, find links to our historical photos and explore the history of the Bank's head office, and download our souvenir books.