Get quick access to our research papers, public consultations and surveys related to bank notes.
See also our backgrounders and explainers on bank notes.
Research papers
You can browse all our staff research on bank notes. Here's the latest:
Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital Currency
Staff Discussion Paper 2023-22
Alexandra Sutton-Lalani,
Sebastian Hernandez,
John Miedema,
Jiamin Dai,
Badr Omrane
We explore quantitative and qualitative information about Canadians who face barriers to making digital payments. We also consider the implications of ongoing digitalization for modern financial inclusion and a potential central bank digital currency.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Accessibility,
Bank notes,
Central bank research,
Digital currencies and fintech,
Digitalization,
Financial services
JEL Code(s):
A,
A1,
A14,
E,
E4,
E42,
E5,
E50,
I,
I3,
I31,
O,
O3,
O33,
O5,
O51
Unmet Payment Needs and a Central Bank Digital Currency
Staff Discussion Paper 2023-15
Christopher Henry,
Walter Engert,
Alexandra Sutton-Lalani,
Sebastian Hernandez,
Darcey McVanel,
Kim Huynh
We discuss the payment habits of Canadians both in the current payment environment and in a hypothetical cashless environment.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Central bank research,
Digital currencies and fintech,
Financial services
JEL Code(s):
C,
C1,
C12,
C9,
E,
E4,
O,
O5,
O54
Cryptoasset Ownership and Use in Canada: An Update for 2022
Staff Discussion Paper 2023-14
Daniela Balutel,
Christopher Henry,
Doina Rusu
We find that Bitcoin ownership declined from 13% in 2021 to 10% in 2022. This drop occurred against a background of steep price declines and an increasingly tight regulatory atmosphere.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Econometric and statistical methods
JEL Code(s):
C,
C8,
C81,
E,
E4,
O,
O5,
O51
The 2021–22 Merchant Acceptance Survey Pilot Study
Staff Discussion Paper 2023-1
Angelika Welte,
Joy Wu
The rise in digital payment innovations has spurred a discussion about the future of cash at the point of sale. The Bank conducted the 2021–22 Merchant Acceptance Survey Pilot Study to study trends in merchant cash acceptance and monitor conditions for the potential issuance of a central bank digital currency.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Econometric and statistical methods
JEL Code(s):
C,
C8,
D,
D2,
D22,
E,
E4,
L,
L2
Public consultations
Consulting Canadians on visual content is integral to our design process for new bank notes.
Principles for Bank Note Design Consultation
Read the highlights of this consultation, and see how the design principles have been applied to bank notes like these.
Surveys
The Bank regularly surveys Canadian businesses and citizens to better understand how and why cash is used by assessing awareness, attitudes, and behaviours with respect to bank notes.
Survey results allow the Bank to monitor its progress, to identify potential issues or opportunities, and to adapt its programs, tools, and services as needed.
Bank Note Confidence Survey
The Bank of Canada supplies Canadians with bank notes they can use with confidence—notes that are readily accepted and secure against counterfeiting. To monitor and assess public confidence in the authenticity of bank notes, we conduct a survey twice a year. This survey is based on a representative sample of 2,700 residents of Canada.
Methods-of-Payment Survey
The Bank of Canada surveys Canadian consumers to get a better understanding of how they pay for goods and services.
Merchant Acceptance Survey
The Merchant Acceptance Survey (MAS) helps the Bank of Canada understand trends when it comes to the methods of payment accepted by Canadian businesses.
Cash and COVID-19: What happened in 2021
Using data from the Bank Note Distribution System and consumer surveys, we find that bank notes in circulation remained high through 2021. Canadians continued to rely on electronic methods of payment, but a significant share also continued using cash for payments.
Frontiers Series: 2011–12 Awareness Survey
This survey measured Canadians’ awareness of the polymer bank notes. Respondents were asked if they recalled hearing of any upcoming changes to Canadian bank notes, and if so, where they first heard of the polymer bank notes.