The Bank of Canada is the central bank of Canada, whose current governor is Mike Carney. It was founded in 1934 by the Bank of Canada Act of the same year. The country's banking system was fairly stable even before the creation of the Bank of Canada, primarily through its bank branch structure, and showed little interest in central banks in the early 1900s. Additionally, the banking system was somewhat regulated by the Canadian Bankers Association. However, as the Great Depression took Canada by storm, discussions about its then-financial situation were brewing. Some have even questioned the country's ability to meet greater demands. The central bank was established by law in 1934 and began operating in 1935, but as a private institution. Then, when William Mackenzie King was re-elected prime minister after a full term by Richard Bennet, the new government made an amendment to the Bank of Canada Act, making the bank public in 1938, as it is today ( Bank of Canada). : History). Its main objective was to be able to support the financial and economic well-being of our country (Go Currency: Bank of Canada). It thus assumes many roles and functions as a central bank, which I will develop in the next paragraphs. To begin, it is essential to know what the objective of the Bank of Canada is, as set out in the Bank of Canada Act of 1934, although I briefly touched on it in the introductory paragraph. In precise terms: “[…] it is desirable to establish a central bank in Canada to regulate credit and currency in the best interest of the economic life of the nation, to control and protect the external value of the monetary unit national and to attenuate through its influence fluctuations in the general level of production, trade, p......middle of paper......men." Cyberpresse. March 1, 2010. La Presse. April 13 2010 "Bank of Canada". Wikipedia. April 13, 2010. "Bank of Canada. April 13, 2010." Bank of Canada. HH and Peter S. Sephton. Money, banking and the financial system Nelson, 2001. (part of the course file) “Office of the Superintendent of Financial Institutions”. 2010