2017 at a Glance
A review of some key numbers related to the Bank of Canada’s work in 2017.
Bank of Canada Mandate and Planning Framework
The Bank of Canada is the nation’s central bank. Its mandate, as defined in the Bank of Canada Act, is “to promote the economic and financial welfare of Canada.”
Consistent with the objectives of the government’s debt-management strategy for 2017–18, debt activities focused on refinancing government debt coming to maturity, raising stable and low-cost funding for government programs and services, and maintaining a liquid and well-functioning market for Government of Canada securities.
The Bank continues to provide Canadians with access to secure bank notes while keeping an eye on the transition to digital forms of currency.
Managing the Bank of Canada
Efficient, cost-effective and innovative operations promote employee engagement and productivity and contribute to the achievement of the business objectives established in the Bank’s medium-term plan (MTP).
Communications and Outreach
Communications, outreach and stakeholder engagement activities ensure that the views of individuals, businesses and organizations in Canada are understood and considered by the Bank in the course of conducting its policy actions.
In the face of rapid changes to global financial networks—enabled by new technologies—central banks and related agencies have been working together to improve international financial systems and regulatory frameworks.
Governance of the Bank of Canada
The Bank of Canada Act provides the legal authority and framework for governance of the Bank of Canada.
The Bank maintains a strong risk management culture and implements an enterprise risk management (ERM) framework that promotes consistent management of strategic, operational and financial risks.
2017 Financial Results and Financial Statements
The Bank’s holdings of financial assets are generally driven by its role as the exclusive issuer of Canadian bank notes. The Bank invests the proceeds from the issuance of notes into Government of Canada securities that are acquired on a non-competitive basis.