EC223 Lecture Notes - Lecture 6: Money Supply, Debt Management Plan, Payments Canada
Document Summary
Board of directors board of 15 members (including the governor) that is responsible for the management of the bank of canada. Governing council council with six members (including the governor) that is responsible for the management of the bank of canada. Preserve integrity and safety of canadian currency: funds management. Debt management services for the federal government. Exchange fund account fund that holds canadas official foreign exchange assets: financial system. Base money su(cid:373) of the ba(cid:374)k of ca(cid:374)ada"s (cid:373)o(cid:374)etary lia(cid:271)ilities ((cid:374)otes outsta(cid:374)di(cid:374)g a(cid:374)d. Lender of last resort bank settlement balances) and coins outstanding: monetary policy. Open market buyback operations ba(cid:374)k of ca(cid:374)ada"s (cid:271)uyi(cid:374)g or selli(cid:374)g of (cid:271)o(cid:374)ds i(cid:374) the open market. Instrument independence ability of the central bank to set monetary policy instruments. Goal independence ability of the central bank to set the goals of monetary policy. Central bank oversees banking system and is responsible for the conduct of monetary policy in canada and the bank of canada.
