Governance Documents

The Bank is committed to publishing information about how it works. Reports, statements, public surveys and plans are available in this section.

The mandate of the Bank of Canada is spelled out in the Bank of Canada Act. Under this Act, the Bank of Canada is required to submit each year its audited financial statements accompanied by a report by the Governor to the Minister of Finance. The Annual Report is presented to Parliament by the Minister and a copy is published in the Canada Gazette.

The Payment Clearing and Settlement Act gives the Bank of Canada responsibility for the oversight of payments and other clearing and settlement systems in Canada, for the purpose of controlling systemic risk and payments system risk.

The Governing Council's main tool for implementing monetary policy is the target for the overnight rate. This rate is normally set on eight fixed dates per year. The Council arrives at its decisions about the rate by consensus, rather than by individual votes, as is the case at some other central banks.

Financial Reporting

Annual Reports and Quarterly Financial Reports

The Bank of Canada’s Annual Report, including audited financial statements, and the Bank of Canada's Quarterly Financial Reports.

The Bank's Statement of Financial Position / Balance Sheet

Medium-Term Plan

Strategy Documents

Other Reports

Employment Equity

The Bank is committed to providing an inclusive, equitable and respectful work environment for its employees.

Operation of the Canadian Multiculturalism Act

Annual reports on the Bank's observance of the Canadian Multiculturalism Act.

Privacy Act

Annual reports on the Bank's observance of the Privacy Act.

Access to Information Act

Annual reports on the Bank's Access to Information activities.

Official Languages Act

Annual reports on the Bank’s observance of the Official Languages Act.

Policies and Guidelines

Statement of Policy Governing the Acquisition and Management of Financial Assets for the Bank of Canada's Balance Sheet

This document sets out the policy governing the acquisition and management of domestic financial assets for the Bank of Canada's balance sheet. This policy does not apply to the assets of the Bank's pension trust fund and supplementary trust fund.

Bank of Canada Policy for Buying and Selling Securities Under Subsection 18.1(1) of the Bank of Canada Act

This policy sets out the range of securities and instruments that the Bank will use for certain types of transactions.

Code of Business Conduct and Ethics

The Bank of Canada is justifiably proud to have gained a high level of public trust and a reputation for high ethical standards. This Code of Business Conduct and Ethics is designed to ensure that we maintain these standards.

Code of Business Conduct and Ethics for Directors

The Bank of Canada Code of Business Conduct and Ethics for Directors is designed to assist the Bank’s independent directors in understanding, and to promote adherence to, the standards of conduct and ethical behaviour expected of them in the performance and exercise of their responsibilities.

Disclosure of Wrongdoing

This policy supports the Bank's policy framework by providing staff with an additional method for disclosing serious concerns of wrongdoing in the workplace.

Procurement Policy Statement

The Bank of Canada requires that its resources be used effectively and efficiently to obtain appropriate value for money.

Principles for External Communication by Members of Governing Council

To uphold public confidence in the transparency and integrity of its work on behalf of Canadians, the Bank adheres to these principles for Governing Council’s external communications.

Blackout Guidelines

"Blackout" Guidelines for Communications around Fixed Announcement Dates.

Accountability and Disclosure

Access to Information and Privacy (ATIP)

The Bank of Canada is subject to the Access to Information Act and the Privacy Act.

Info Source

The purpose of Info Source is to assist individuals in exercising their rights under the Access to Information Act and the Privacy Act.

External Audit

The Governor in Council (the Cabinet) appoints two firms of accountants (currently KPMG LLP and PricewaterHouseCoopers LLP) to audit the affairs of the Bank, as stated in Section 28 (1) of the Bank of Canada Act. A copy of every report submitted by the auditors to the Bank is contained in the Bank's Annual Report and is submitted to the Minister of Finance.

Travel and Hospitality Expense Reports

The Bank publishes monthly reports on travel and hospitality expenses for the Chief Operating Officer and all members of the Bank's Governing Council and Board of Directors.

Disclosure of Contracts

Four times per year, the Bank publishes summaries of contracts over $100,000 that it has entered into.

Public Awareness Surveys

The Bank periodically surveys the public to understand how awareness of our actions and policies has evolved over time.