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Statement by Mark Carney, Governor of the Bank of Canada to the Standing Senate Committee on Banking, Trade and Commerce

The market in which short-term capital is raised, invested, and traded using financial instruments such as treasury bills, bankers' acceptances, commercial paper, and bonds maturing in one year or less.

This tool allows you to make side-by-side comparisons of changes to the Bank Rate and the target for the overnight rate over time.

Here are the agencies and initiatives that help ensure the integrity and stability of the financial system and allow market participants to comply with mandated clearing requirements.

Learn what a payment system is, how payments are processed and how the payment system is being modernized.

The Bank of Canada, as Canada's central bank, is the ultimate source of liquid funds to the financial system. Learn about this role, known as “lender of last resort".

Learn about the Bank’s role in overseeing financial market infrastructure (FMIs), its oversight responsibilities and powers under Canada’s Payment Clearing and Settlement Act, and which FMIs are considered systemically important.

Canada's financial system consists of financial institutions, such as banks and credit unions; the financial markets; and payments systems.

At year-end 2009, there were 1.8 billion bank notes in circulation, with a total value of $55.5 billion – approximately $1,630 per Canadian. The Bank of Canada is not responsible for coins. Decisions on coinage rest with the federal government, in particular, the Department of Finance, and with the Royal Canadian Mint.

Access links to media activities by the Governor, Senior Deputy Governor and Deputy Governors.