An important routine function of the Bank of Canada is:
A)to help new chartered banks sell capital stock.
B)to supply the economy with paper currency.
C)to advise chartered banks as to the most profitable ways of reinvesting profits.
D)to help chartered banks develop correspondent relationships with foreign banks.

Question

Quizplus · Accepted Answer

The Bank of Canada is responsible for supplying Canada's economy with paper currency, as well as controlling and regulating the money supply. While the Bank of Canada may provide advice to chartered banks and assist in developing relationships with foreign banks, these are not routine functions as outlined in the question.

An Important Routine Function of the Bank of Canada Is