Bank of Canada: Not a Commercial Bank

Introduction

The Bank of Canada (BOC) is the nation's central bank, with a mandate to regulate the financial system and maintain economic stability. It does not offer banking services to the public.

Key Points

* The BOC is responsible for monetary policy, including setting interest rates and managing the money supply. * It also regulates the financial system, including banks and credit unions. * The BOC does not offer banking services such as savings accounts, mortgages, or credit cards. * Canadian banking services are provided by commercial banks and credit unions. * The BOC's primary focus is to ensure the health and stability of the financial system.