Top Canadian Banks
The first Canadian bank – the Bank of Montreal was established in 1817, and this marked the beginning of the modern Canadian banking system. In the following years many new financial institutions opened for business. These new banks were issuing their own banknotes. The amendment done to the British North America Act in 1866, allowed both provincial and local governments to issue notes. The banknotes issued by the private Canadian banks were phased out, once the Canadian dollar was introduced in 1871. In 1935 the Canada established its own central bank, the Bank of Canada.
Jun 9th, 2010
by Steven Milton
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Categories : Financial
