Background materials

At the Bank of Canada, our balance sheet reflects the unique role we play as Canada’s central bank. Get an overview of how it’s used to acquire assets and support our core functions, and learn about the types of assets and liabilities we hold.

This review looks at the effectiveness of the Bank’s exceptional policy actions during the pandemic. It also draws several lessons that will help shape future decisions should these tools be needed again.

In the first quarter of 2023, Bank staff removed the question on past sales growth from the BOS questionnaire. This backgrounder outlines the reasons for the change and discusses its implications.

At the Bank of Canada, we assessed the life cycle of bank notes to confirm that polymer notes have a smaller environmental footprint than paper notes. Polymer notes have a longer life and then are recycled.

The Bank of Canada’s balance sheet reflects the unique role it plays as Canada’s central bank. It is different from the balance sheets of other financial institutions—the assets and liabilities on the Bank’s balance sheet are intended to support its core functions rather than to generate profit.

The Bank of Canada thanks the International Monetary Fund (IMF) for undertaking its thorough and thoughtful pilot review of the Bank under the new Central Bank Transparency Code (CBTC). We welcome the publication of this final review report by the IMF Mission Team and the associated recommendations.

This document provides an overview of Lynx—Canada’s high-value payment system—and summarizes the system’s design. It explains the development and purpose of Lynx as well as the legal and regulatory framework governing its operation. It also describes the various settlement mechanisms and processes Lynx uses to allow system participants to meet their diverse payment needs while ensuring that risks that arise in the system are managed appropriately.

Firms participating in the Business Outlook Survey (BOS) are asked several questions about labour markets. One such question is whether they expect wage growth to increase or decrease over the next 12 months. The responses to this question, combined with related confidential comments, give a picture of the state of wage pressures in the economy. This, along with wage data and several labour market indicators, inform the Bank about labour market conditions.

Commentary and technical data relating to the 2021 renewal.

We’re taking steps to better understand the impacts of climate change on the economy and to reduce our environmental footprint.

Every quarter, the Bank of Canada surveys about 100 firms and publishes the resulting narrative and related data in the Business Outlook Survey (BOS). Firms are asked to participate based on several criteria—most importantly, their region, sector and size.

Find out what “legal tender” means, why legal tender status changes, and how to redeem older bank notes.

Starting with the 2020 autumn survey, the results from a question on labour cost growth are being included in the Business Outlook Survey. This document describes the question and presents the correlations between the responses and various measures of wages and employment.

Learn about the publication of, and calculation methodology for, the foreign exchange (FX) rate data on the Bank of Canada’s website.

This background note explains the Bank’s official position on CBDC. It outlines the public policy, design, technology and risk management issues the Bank is considering as it builds its capacity to issue a CBDC in case it is needed in the future.

The Bank of Canada regularly reviews its Framework for Market Operations and Liquidity Provision to ensure it remains in line with the evolution of the Canadian financial system.

Since the 2016 summer survey, the results from a question on future sales indicators (FSI) have been included in the Business Outlook Survey (BOS). This backgrounder briefly describes the question and presents the correlations between the responses and various measures of business activity.

Commentary and technical data relating to the 2016 target renewal.

This document outlines a series of monetary policy measures that could be deployed in a very low interest rate environment.

Starting with the 2015 spring survey, the results from a question on the intensity of labour shortages are being included in the Business Outlook Survey (BOS). This backgrounder briefly describes the question and presents the correlations between the responses and various measures of pressures on production capacity and labour market conditions.

Commentary and technical data relating to the 2011 target renewal.

Starting with the winter 2007–08 survey, the results of two additional questions became included in the Business Outlook Survey (BOS) publication: the balance of opinion on past sales and the balance of opinion on credit conditions. This backgrounder briefly describes the two questions and presents the correlations between the responses and relevant economic data.

Commentary and technical data relating to the 2006 target renewal.

This paper provides a comprehensive overview of Canada’s Large Value Transfer System (LVTS).

Commentary relating to the 2001 target renewal.