High Quality Content by WIKIPEDIA articles! The Bank of Canada (French: Banque du Canada) is Canada`s central bank and "lender of last resort". The Bank was created by an Act of Parliament (the Bank of Canada Act) on July 3, 1934 as a privately owned corporation. In 1938, the Bank became a Crown corporation belonging to the Government of Canada. The Minister of Finance (on behalf of Her Majesty in right of Canada) holds the entire share capital issued by the Bank. "Ultimately, the Bank is owned by the people of Canada."