Lynn Patterson

Deputy Governor

Lynn Patterson was appointed Deputy Governor, effective May 2014. In this capacity, she is one of two deputy governors responsible for overseeing the Bank’s analysis and activities in promoting a stable and efficient financial system. As a member of the Bank’s Governing Council, she shares responsibility for decisions with respect to monetary policy and financial system stability, and for setting the strategic direction of the Bank.

Before her appointment, Ms. Patterson served as Special Adviser to the Governor and Senior Representative (Financial Markets) at the Bank’s Toronto Regional Office, a position to which she was appointed in June 2013.

Ms. Patterson has an honours degree in Business Administration from the University of Western Ontario and is a Chartered Financial Analyst. Ms. Patterson has more than 25 years’ experience in capital markets, risk oversight, and senior management roles, including as President and Country Head for Bank of America Merrill Lynch Canada. In that role she was responsible for developing and implementing the company’s strategy for growing its franchise in all products and services in Canada.  Prior to her appointment as President and Country Head, she held a variety of positions at the firm within the fixed income and equity sales and trading platforms.

Before joining Merrill Lynch in 1999, Ms. Patterson held a number of senior positions with several leading organizations including Goldman Sachs Canada, where she was National Sales Manager of Fixed Income, and the Ontario Teachers' Pension Plan Board, where she was a fixed income portfolio manager. She also held various trading positions with JP Morgan Canada and CIBC Wood Gundy.

Ms. Patterson has served on the Government of Ontario’s Economic Advisory Panel and is a recipient of the Diamond Jubilee Medal as a builder and innovator in Canada’s investment industry.

Biographical note: Lynn Patterson


Lynn Patterson

Deputy Governor

Bank of Canada
150 King Street West, Suite 2000
Toronto, ON, M5H 1J9


May 16, 2019

Financial System Review Summary - 2019

In our Financial System Review, we identify the main vulnerabilities and risks to financial stability in Canada and explain how they have evolved over the past year. This issue reflects the Bank’s judgment that the vulnerabilities associated with high household debt and imbalances in the housing market have declined modestly but remain significant. The Financial System Review is a product of the Governing Council of the Bank of Canada: Stephen S. Poloz, Carolyn A. Wilkins, Timothy Lane, Lawrence Schembri, Lynn Patterson and Paul Beaudry.
March 7, 2019

Economic Progress Report: Sensible Shifts in Household Spending

Remarks Lynn Patterson Hamilton Chamber of Commerce Hamilton, Ontario
Deputy Governor Lynn Patterson discusses updates on the economy and reviews the latest interest rate decision.
March 7, 2019

Spending Shifts and Consumer Caution

Lynn Patterson Hamilton Chamber of Commerce Hamilton, Ontario
Speaking a day after we decided to hold interest rates unchanged, Deputy Governor Lynn Patterson discussed the key points Governing Council considered in their decision.
June 18, 2018

Rebooting Reference Rates

Remarks Lynn Patterson Investment Industry Association of Canada and Institute of International Finance Toronto, Ontario
Deputy Governor Lynn Patterson discusses the efforts in multiple jurisdictions to strengthen LIBOR and similar benchmarks and work underway in Canada to consider a new risk-free benchmark for the Canadian dollar market.
June 28, 2017

Markets Calling: Intelligence Gathering at the Bank of Canada

Remarks Lynn Patterson CFA Society Calgary Calgary, Alberta
Deputy Governor Lynn Patterson discusses how the Bank gathers financial market intelligence and what it is learning.

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