ADMS 1010 Lecture Notes - Investment Banking, Fiscal Policy, Money Supply
Document Summary
More intrrested in large banks that are centrally regulated then small banks that can fail easily. After the bank act of 1871 the bank act was a proposal. The big banks didn"t want a central banker, controlling banking they thought they can handle it themselves. Why we needed the cdn national railroad ww1 move troops and supplies, etremly expensive. Real risk of bank failures big nationalize of railroad. Great big booms and recessions like late 90s and early 20th century. Idea central bank take responsibility for regulation, intresest rates and managing money supply. Bank act approves 1934 started working 1935-->mckenzie king passed this policy. Responsibilties of the bank monetrary policy; sole issuer of cdn bank notes and currency, promotion of a safe finical system within canada, funds management and central banking services, for the federal govt, bank and other clienets.