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How is Canadian money printed and what is the way in which it is distributed? My concern is that there might be a system similar to the federal Reserve in the US.

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0 Views: 304 Answers: 1 Posted: 13 years ago

Tags: canadian monetary system

1 Answer

sawali

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Bank of Canada is responsible for money in circulation. Coins are struck at Royal Canadian Mint.

13 years ago. Rating: 0
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Test tube

This I understand but how does the Bank of Canada distribute the money? Like do any institutions other than the Bank of Canada collect any fees, etc for this distribution ?. I would like to know this.

commented 13 years ago

sawali

Banking institutions place their orders with B o Canada. That's how it flows into the mainstream.

commented 13 years ago

Test tube

Do the Banks get to charge Bank of Canada any fees(interest, etc.) for receiving the money and putting it into the mainstream?

commented 13 years ago

sawali

Banks need money for their customers. No they don't pay fees for this purpose and neither do they receive fees from B O C.

commented 13 years ago