Bank of Canada (commercial)

Bank of Canada (commercial)

Location: Toronto, Ontario, Canada

First President:

Existed: August 16, 1858-1866

renamed the Canadian Bank of Commerce, later modern-day Canadian Imperial Bank of Commerce (CIBC)

The Bank of Canada was granted a charter on August 16, 1858. The charter was granted to the Honorable William Cayley, the Honorable Joseph Curran Morrison, Angus Morrison Esq., the Honorable John Ross, William Henry Boulton Esq. and Frederick William Cumberland Esq. The charter was never used and eventually sold to William McMaster in 1866 and renamed the Canadian Bank of Commerce, later became CIBC.

It is not to be mistaken for the Bank of Canada, the current central bank which was established by the Bank of Canada Act in 1934.