Bank of Canada

  • 14 Feb 2014 at 10:10 AM

Mark Carney Ditches Clotted Cream For Maple Syrup

When the Bank of England handed over the reins to Mark Carney, it presumably did so, at least in part, as a recognition of his success at his native Bank of Canada. But what is good for the former dominion may not be so great for the former imperial power, and certain people are not impressed. Read more »

  • 28 May 2013 at 4:14 PM

Bank of Canada Has No Idea Who It’s Dealing With

The smell of success is particularly sweet in Canada as an unending stream of residents swear that the new $100 bill is the scent of maple syrup. The national treasury released a new plastic bank note in November 2011, and they have received hundreds of emails from residents who are convinced that the bills have an added fragrance. ‘They all have a scent which I’d say smells like maple? Please advise if this is normal?’ wrote one concerned citizen. Media liaisons for the Bank of Canada have repeatedly denied that there is any particular scent to the money, but that didn’t stop concerned citizens. The Canadian Press submitted a request for all of the emails the bank received from the public in regards to the issue, and there are enough to fill a maple syrup vat. ‘I would like to know…once and for all if these bills are in fact scented, as I do detect a hint of maple when smelling the bill,’ another such email read. While some of the emails were focused on the question of whether or not they were scented, others were more concerned that their notes were defective since they had lost ‘the scent’. ‘The note…lost its maple smell. I strongly suggest the Bank increases the strength of the… maple smell,’ one person wrote. [DM]

Jamie Dimon of JPMorgan Chase launched a tirade at Mark Carney, Bank of Canada governor, in a closed-door meeting in front of more than two dozen bankers and finance officials, underscoring mounting tensions between bankers and officials over financial regulation. The JPMorgan chief executive’s remarks to Mr Carney, who is touted as a potential next head of the Financial Stability Forum, the international group of regulators, were focused on a capital surcharge for the largest banks, according to several people who attended the meeting of about 30 bank chiefs…Mr Dimon told Mr Carney that many of the rules discriminated against US banks and he was going to continue to use the phrase “anti-American” because it seemed to resonate with people who might be able to modify the reforms. The atmosphere was so bad after the meeting that Lloyd Blankfein, chief executive of Goldman Sachs and head of the Financial Services Forum bankers’ group which arranged the session, emailed the central banker to try to smooth relations, people familiar with the matter said. [FT via BI]