The financial system is vital to the functioning of the economy and the welfare of Canadians.

The system includes financial institutions such as banks and credit unions, the financial markets, and clearing and settlement systems. It’s through the financial system that most commercial activity (saving; borrowing; investing and buying and selling by means of debit and credit cards, cheques and e-money) is carried out.

The Bank works with other agencies and market participants to promote and maintain the safe and efficient operation of the system's key elements by:

  • overseeing major clearing and settlement systems, also known as financial market infrastructures (FMIs)
  • providing banking services to these systems and their participants
  • working jointly with other domestic and international bodies involved in financial-stability issues
  • providing liquidity to the system
  • giving policy advice to the federal government on the design and development of the financial system