Banking System:-Banking is the network of central chartered, savings, and specialized

banks that provide financial services, including accepting deposits and providing loans
and credit, money transmission and investment facilities.

Canadian banking system:- Canadian banking system is a subset of the larger

system –the financial system- which consist of the following institutions:-

Canadian Banking
system

Other Finanacial
The Bank of Canada Chartered Banks Near Banks
Institutions

1.The Bank of Canada :- The Bank of Canada  is Canada's central bank. It opened in

1935 after the passing of the Bank of Canada Act, which, among other things, gave the
bank a monopoly on the issuance of banknotes. Its stated purpose is to "promote the
economic and financial well-being of Canada. “ The bank's headquarters are located in
the Bank of Canada Building at the corner of Wellington and Bank Streets in downtown
Ottawa.
2. Chartered banks :- A chartered bank is an institution whose primary business is
financial intermediation, meaning the bringing together of borrowers and lenders.
Chartered banks offer a range of other financial services to their customers including
cheque clearing, credit cards and safekeeping as well as investment and insurance
services. Banks' profits come from the spread between interest paid to depositors by the
bank and the interest paid to the bank by borrowers.
 Top 4Chartered
Banks In canada

Royal Bank Of Bank Of Montreal Bank of Nova

td Canada Trust
Canada RBC (BMO) Scotia

3 Near Banks :- Near banks are financial institutions other than chartered banks that
accept deposits from public. They include caisses populaires and credit unions, trust
companies and mortgage loan companies