The Bank of Canada is the nation's central bank. We are not a commercial bank and do not offer banking services to the public. Rather, we have responsibilities for Canada's monetary policy, bank notes, financial system, and funds management. Our principal role, as defined in the Bank of Canada Act, is "to promote the economic and financial welfare of Canada."
The Bank was founded in 1934 as a privately owned corporation. In 1938, it became a Crown corporation belonging to the federal government. Since that time, the Minister of Finance has held the entire share capital issued by the Bank. Ultimately, the Bank is owned by the people of Canada.
The Bank is not a government department and conducts its activities with considerable independence compared with most other federal institutions. For example:
The Bank's Ottawa headquarters were designed by renowned Canadian architect Arthur Erickson in 1969.
In 2012, the Board of Directors approved a plan to renew the Bank’s head office complex 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.
The Bank of Canada opened its doors in 1935.