May 18, 2015 Bank of Canada to issue a commemorative bank note marking the historic reign of Queen Elizabeth II As announced by the Prime Minister’s Office, the Bank of Canada will contribute to the Government of Canada’s plans to commemorate the historic reign of Her Majesty Queen Elizabeth II by issuing a commemorative bank note in 2015. Content Type(s): Press, Announcements Topic(s): Bank notes
May 14, 2015 The Use of Cash in Canada Bank of Canada Review - Spring 2015 Ben Fung, Kim Huynh, Gerald Stuber The Bank of Canada’s 2013 Methods-of-Payment Survey indicates that the share of cash in the overall number of retail transactions has continued to decrease, mainly because of increased use of contactless credit cards. The share of cash in the total value of retail transactions was virtually unchanged from 2009 to 2013. In particular, the value share of cash transactions above $50 increased. Automated banking machines (ABMs), still the major source of cash for Canadians, were used less often in 2013 than in 2009. Cash use in Canada is broadly similar to that in Australia and the United States. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods, Financial system regulation and policies, Payment clearing and settlement systems JEL Code(s): C, C8, C83, E, E4, E42, G, G2, G21, L, L8, L81
2013 Methods-of-Payment Survey Results Staff Discussion Paper 2015-4 Christopher Henry, Kim Huynh, Rallye Shen As the sole issuer of bank notes, the Bank of Canada conducts methods-of-payment (MOP) surveys to obtain a detailed and representative snapshot of Canadian payment choices, with a focus on cash usage. Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes, Digital currencies and fintech JEL Code(s): E, E4
The Efficiency of Private E-Money-Like Systems: The U.S. Experience with National Bank Notes Staff Working Paper 2015-3 Warren E. Weber Beginning in 1864, in the United States notes of national banks were the predominant medium of exchange. Each national bank issued its own notes. E-money shares many of the characteristics of these bank notes. Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Financial services JEL Code(s): E, E4, E41, E42, E5, E58
Demographics and the Demand for Currency Staff Working Paper 2014-59 Geoffrey R. Dunbar I use data from the Bank of Canada’s Bank Note Distribution System and exploit a natural experiment offered by the timing of Easter in the Gregorian calendar to analyze the effects of demographic change for currency demand. Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Econometric and statistical methods JEL Code(s): C, C3, C31, C36, E, E4, E41
December 16, 2014 Bank of Canada publishes results of consultation on bank note design principles Media Relations Ottawa, Ontario The Bank of Canada today published a summary of the comments it received in an online consultation on the principles guiding the design of the country’s bank notes. Content Type(s): Press, Press releases Topic(s): Bank notes
December 5, 2014 Bank of Canada invites Canadians to propose design ideas for a bank note marking Canada’s 150th anniversary Media Relations Ottawa, Ontario The Bank of Canada is inviting Canadians to propose ideas for the design of a new bank note to celebrate the 150th anniversary of Confederation in 2017. Content Type(s): Press, Press releases Topic(s): Bank notes
October 8, 2014 Bank of Canada invites Canadians to comment on bank note design principles Media Relations Ottawa, Ontario The Bank of Canada announced that it is inviting Canadians to comment on the principles that guide the design of the country’s bank notes. Content Type(s): Press, Press releases Topic(s): Bank notes
The Role of Card Acceptance in the Transaction Demand for Money Staff Working Paper 2014-44 Kim Huynh, Philipp Schmidt-Dengler, Helmut Stix The use of payment cards, either debit or credit, is becoming more and more widespread in developed economies. Nevertheless, the use of cash remains significant. Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods, Financial services JEL Code(s): C, C3, C35, C8, C83, E, E4, E41
August 26, 2014 Bank of Canada Announces the Recipient of its 2014 Law Enforcement Award of Excellence for Counterfeit Deterrence Ottawa, Ontario This award was established in 2004 to recognize the work of Canadians in the field of law enforcement in deterring and preventing the counterfeiting of Canada’s bank notes. Content Type(s): Press, Press releases Topic(s): Bank notes