Bank of Canada to Upgrade $10 Bank Note

As part of its ongoing efforts to improve the security of Canadian bank notes, the Bank of Canada will issue a $10 note with upgraded security features beginning 18 May 2005.

The upgraded note will have the same security features found on the $20, $50, and $100 Canadian Journey series notes issued in 2004. The improved features include a metallic holographic stripe, a watermark portrait, a windowed colour-shifting thread woven into the paper, a see-through number, and enhanced fluorescence under ultraviolet lighting. These features are reliable and quick and easy to use, and are designed to help Canadians protect themselves from accepting counterfeit notes. The illustrations on the front and back of the note will be the same as those on the $10 note issued in 2001.

The Bank continues to work with the retail and financial sectors as well as law enforcement agencies to inform cash-handlers about the anti-counterfeiting features found on Canadian notes. "To minimize opportunities for counterfeiters, it is important for cash-handlers and consumers alike to take the few seconds that are needed to check the new easy-to-use security features," said David Dodge, Governor of the Bank of Canada.

The Bank of Canada will work with the financial industry to remove previous versions of the $10 note from circulation and expects that most of the older $10 notes will be withdrawn in approximately one year. All Canadian bank notes remain legal tender.

The Bank of Canada is also collaborating with its partners to ensure the smooth introduction of the upgraded $10 note into daily cash exchanges. The Bank is providing manufacturers of bank note handling equipment—such as automated banking machines (ABMs), change-makers, and automated ticket dispensers—with the necessary information to make the required adjustments to their equipment. "In order to ensure that bills are not rejected by bank note handling equipment, it is important for the owners and manufacturers of this equipment to be ready for the upgraded note on 18 May 2005," said Roy Poppe, President of the Canadian Automatic Merchandising Association. "This simply makes good business sense."

For more information on Canadian bank notes, their security features, and education and training materials, visit https://www.bankofcanada.ca/en/banknotes/.

Note to Editors:

• A CD with images of the front and back of the upgraded $10 bank note is available to the media upon request. Anyone wishing to publish bank note images must first obtain written permission from the Bank of Canada.