Which of the following is a duty of the Bank of Canada?

Question

Quizplus · Accepted Answer

Engaging in open-market operations is a duty of the Bank of Canada. This involves buying and selling government securities in order to manage the money supply and interest rates in the economy. The other options listed are not duties of the Bank of Canada - regulating banks' reserve ratios is the responsibility of the Office of the Superintendent of Financial Institutions, extending loans to households is not within the Bank of Canada's mandate, and offering deposit insurance is the responsibility of the Canada Deposit Insurance Corporation.

Which of the Following Is a Duty of the Bank