Banking Law in Canada

Tue, 07 Jul 2026 00:00:00 +0000

Introduction

Banking law in Canada governs the establishment, regulation, supervision, and resolution of banks and other deposit-taking institutions. The primary legislative framework is the Bank Act, SC 1991, c 46, a federal statute that sets out the legal architecture for Canada’s banking system. The Canadian banking sector is characterised by a high degree of concentration — the “Big Six” banks (Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce, and National Bank of Canada) hold approximately 90% of total banking assets — and a robust regulatory infrastructure designed to ensure stability, competitiveness, and consumer protection. This article examines the key components of Canadian banking law, including prudential regulation, monetary policy, payment systems, and the resolution framework.

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Banking Law in Canada

Introduction