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Finance Minister (Canada)
The minister of finance (french: ministre des Finances) is the minister of the Crown in the Canadian Cabinet who is responsible for overseeing the Department of Finance and presenting the federal government's budget each year. It is one of the most important positions in the Cabinet. Chrystia Freeland serves as the 40th and current finance minister, assuming the role in August 2020 following the resignation of Bill Morneau. She concurrently serves as the deputy prime minister of Canada. Because of the prominence and responsibility of this cabinet position, it is not uncommon for former ministers of finance to later become prime minister. Charles Tupper, R. B. Bennett, John Turner, Jean Chrétien, and Paul Martin all became prime minister after previously serving as minister of finance. Responsibilities In addition to being the head of the Department of Finance, the minister of finance is also the minister responsible for: *Bank of Canada *Canada Deposit Insurance Corpor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chrystia Freeland
Christina Alexandra Freeland (born August 2, 1968) is a Canadian politician serving as the tenth and current deputy prime minister of Canada since 2019 and the Minister of Finance (Canada), minister of finance since 2020. A member of the Liberal Party of Canada, Liberal Party, Freeland represents the Toronto riding of University—Rosedale in the House of Commons of Canada, House of Commons. She was first appointed to Cabinet of Canada, Cabinet following the 2015 Canadian federal election, 2015 federal election and is the first woman to hold the finance portfolio. Born in Peace River, Alberta, Freeland completed a bachelor's degree at Harvard University, studying Russian history and literature before earning a master's degree in Slavic studies, Slavonic studies from University of Oxford, Oxford University. She began her career in journalism working in editorial positions at the ''Financial Times'', ''The Globe and Mail'' and Reuters, becoming managing director of the latter. F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasury Board Of Canada
The Treasury Board of Canada (french: Conseil du Trésor du Canada) is the Cabinet committee of the Privy Council of Canada which oversees the spending and operation of the Government of Canada and is the principal employer of the core public service. The committee is supported by the Treasury Board of Canada Secretariat, its administrative branch and a department within the government itself. The committee is chaired by the president of the Treasury Board, currently Mona Fortier, who is also the minister responsible for the Treasury Board of Canada Secretariat. Role The Canadian Cabinet is arranged into several committees with varying responsibilities, but all other ones are informal structures and frequently change. Currently organized under the ''Financial Administration Act'', the Treasury Board is the only one created by law and is officially a committee of the Privy Council. Its role in government makes it far more powerful than most Cabinet committees as it is responsib ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Transactions And Reports Analysis Centre Of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC; french: Centre d'analyse des opérations et déclarations financières du Canada) is the national financial intelligence agency of Canada. FINTRAC was established in 2000 under the Proceeds of Crime (Money Laundering) Act to facilitate detection and investigation of money laundering, FINTRAC's mandate was expanded in December 2001 following amendments to the Proceeds of Crime Act to also disclose financial intelligence to other Canadian intelligence and law enforcement agencies with respect to suspected terrorist financing. FINTRAC's mandate was further expanded in 2006 under Bill C-25 to enhance the client identification, record-keeping and reporting measures, established a registration regime for money services businesses and foreign exchange dealers, and created new offences for not registering. FINTRAC has been a member of the Egmont Group of Financial Intelligence Units, an international organization o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of The Superintendent Of Financial Institutions
The Office of the Superintendent of Financial Institutions (OSFI; french: Bureau du surintendant des institutions financières, BSIF) is an independent agency of the Government of Canada reporting to the Minister of Finance created "to contribute to public confidence in the Canadian financial system". It is the sole regulator of banks, and the primary regulator of insurance companies, trust companies, loan companies and pension plans in Canada. The current Superintendent is Peter Routledge, who was appointed in June 2021. He replaced Jeremy Rudin, who retired. The term of the appointment is seven years. Mandate The Office of the Superintendent of Financial Institutions (OSFI) was created to contribute to public confidence in the Canadian financial system. OSFI's mandate is to protect depositors, policyholders, financial institution creditors and pension plan members, while allowing financial institutions to compete and take reasonable risks. Specifically OSFI achieves this th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian International Trade Tribunal
The Canadian International Trade Tribunal is an independent quasi-judicial body operating in Canada's trade system. The administrative tribunal reports to Parliament through the Minister of Finance. The Tribunal was established on December 31, 1988, and is based in Ottawa, Ontario. The Tribunal is composed of a chairperson and up to six permanent members appointed by the Governor-in-council. Temporary members may also be appointed. The Tribunal is mandated to act within five key areas: * Anti-dumping Injury Inquiries: To inquire into and decide whether dumped and/or subsidized imports have caused, or are threatening to cause, injury to a domestic industry * Procurement Inquiries: To inquire into complaints by potential suppliers concerning procurement by the federal government and decide whether the federal government breached its obligations under certain trade agreements to which Canada is party * Customs and Excise Appeals: To hear and decide appeals of decisions of the Canada B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada Pension Plan Investment Board
The Canada Pension Plan Investment Board (CPPIB; french: Office d'investissement du régime de pensions du Canada), operating as CPP Investments (french: Investissements RPC), is a Canadian Crown corporation established by way of the 1997 ''Canada Pension Plan Investment Board Act'' to oversee and invest the funds contributed to and held by the Canada Pension Plan (CPP). CPP Investments is one of the world's largest investors in private equity, having invested over US$28.1 billion between 2010 and 2014 alone. Despite being a Crown corporation, CPPIB is not considered a sovereign wealth fund because it operates at arm's length from the Government of Canada and solely manages CPP contributions paid by workers and employers, not public funds. As of June 30, 2022, the CPP Investment Board manages over C$523 billion in assets under management for the Canada Pension Plan on behalf of 20 million Canadians. History The Canada Pension Plan was first established in 1966. For much of i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada Development Investment Corporation
The Canada Development Investment Corporation (CDEV; french: Corporation de développement des investissements du Canada) is a Canadian Crown corporation responsible for managing investments and corporate interests held by the Government of Canada, including making purchases and sales of assets on behalf of the Queen-in-Council. CDEV was incorporated under the Canada Business Corporations Act in 1982 and was initially intended to be a temporary entity, with legislation passed in 1998 directing the corporation's mandate to be focussed solely on orderly dissolution and divestment of its holdings. However, the Government of Canada announced in 2007 that CDEV would continue operations. Owned in full by the Crown and managed by a Toronto-based board of directors, CDEV is accountable to the Parliament of Canada through the Minister of Finance. Any changes in corporate structure or purchases of new assets must be directed by the Queen-in-Council. Holdings , CDEV's current holdings con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada Deposit Insurance Corporation
The Canada Deposit Insurance Corporation (CDIC; french: Société d'assurance-dépôts du Canada) is a Canadian federal Crown Corporation created by Parliament in 1967 to provide deposit insurance to depositors in Canadian commercial banks and savings institutions. CDIC insures Canadians' deposits held at Canadian banks (and other member institutions) up to C$100,000 in case of a bank failure. CDIC automatically insures many types of savings against the failure of a financial institution. However, the bank must be a CDIC member and not all savings are insured. CDIC is also Canada's resolution authority for banks, federally regulated credit unions, trust and loan companies as well as associations governed by the ''Cooperative Credit Associations Act'' that take deposits. History The Canada Deposit Insurance Corporation was created 4 March 1967 (under Schedule III, Part 1 of the '' Financial Administration Act'' and ''Canada Deposit Insurance Corporation Act''). It is simila ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Canada
The Bank of Canada (BoC; french: Banque du Canada) is a Crown corporation and Canada's central bank. Chartered in 1934 under the ''Bank of Canada Act'', it is responsible for formulating Canada's monetary policy,OECD. OECD Economic Surveys: Canada 2000'. OECD Publishing; 30 August 2000. . p. 45–. and for the promotion of a safe and sound financial system within Canada.Financial Stability and Central Banks: A Global Perspective'. Routledge; November 2002. . p. 41–. The Bank of Canada is the sole issuing authority of Canadian banknotes,Gene Swimmer. How Ottawa Spends, 1996-97: Life Under the Knife'. MQUP; 15 May 1996. . p. 379–. provides banking services and money management for the government, and loans money to Canadian financial institutions. The contract to produce the banknotes has been held by the Canadian Bank Note Company since 1935. The Bank of Canada headquarters are located at the Bank of Canada Building, 234 Wellington Street in Ottawa, Ontario. The building als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Martin
Paul Edgar Philippe Martin (born August 28, 1938), also known as Paul Martin Jr., is a Canadian lawyer and politician who served as the 21st prime minister of Canada and the leader of the Liberal Party of Canada from 2003 to 2006. The son of former secretary of state for external affairs Paul Martin Sr., Martin was a lawyer from Ontario before he became president and the chief executive officer of Canada Steamship Lines in 1973. He held that position until his election as a member of Parliament for the Montreal riding of LaSalle—Émard in 1988. Martin unsuccessfully ran for leader of the Liberal Party in 1990, losing to Jean Chrétien. Martin would become Chrétien's longtime rival for the leadership of the party, though was appointed his minister of finance after the Liberal victory in the 1993 federal election. Martin oversaw many changes in the financial structure of the Canadian government, and his policies had a direct effect on eliminating the country's chronic fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
