The Bank of Canada (French: Banque du Canada) is Canada's central bank.[1] The bank was founded by the Bank of Canada Act[2] on July 3, 1934, as a privately owned corporation. In 1938, the bank became a Crown corporation, belonging to the monarch in right of Canada.[3] The Minister of Finance holds the entire share capital issued by the bank. "Ultimately, the Bank is owned by the Minister of Finance on behalf of Her Majesty in right of Canada."