Matches in DBpedia 2014 for { ?s ?p The Bank of Canada Act is a piece of Canadian federal legislation, adopted in 1934, which created the Bank of Canada, the cornerstone of the central banking system in Canada.The act is part of the Statutes of Canada.Prior to 1934, Canada had no central bank and fragmented control of the banking system.The Canadian Bankers Association took the role of regulating the bank system since 1891 and the Bank of Montreal was the government's banker.[citation needed]W. F. MacLean, MP for South York MP, presented the idea of a central bank to Parliament in 1913, but the idea was shot down by then Prime Minister Sir Robert Laird Borden.It was initially a private bank and became a government-owned corporation in 1938.Amendments to the act allowed the Bank of Canada to divide the capital of the bank into one hundred thousand shares of a value of fifty dollars each, which were issued to the Minister of finance to be held on behalf of Her Majesty in right of Canada. Canada's provinces and federal government has the right to borrow loans at almost zero % from the bank of Canada.. }
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- Bank_of_Canada_Act abstract "The Bank of Canada Act is a piece of Canadian federal legislation, adopted in 1934, which created the Bank of Canada, the cornerstone of the central banking system in Canada.The act is part of the Statutes of Canada.Prior to 1934, Canada had no central bank and fragmented control of the banking system.The Canadian Bankers Association took the role of regulating the bank system since 1891 and the Bank of Montreal was the government's banker.[citation needed]W. F. MacLean, MP for South York MP, presented the idea of a central bank to Parliament in 1913, but the idea was shot down by then Prime Minister Sir Robert Laird Borden.It was initially a private bank and became a government-owned corporation in 1938.Amendments to the act allowed the Bank of Canada to divide the capital of the bank into one hundred thousand shares of a value of fifty dollars each, which were issued to the Minister of finance to be held on behalf of Her Majesty in right of Canada. Canada's provinces and federal government has the right to borrow loans at almost zero % from the bank of Canada.".