The Bank of Canada (in French: Banque du Canada) is Canada's central bank. It opened in 1935 after the passing of the Bank of Canada Act, which, among other things, gave the bank a monopoly on the issuance of banknotes. Its stated purpose is to "promote the economic and financial well-being of Canada." The bank's headquarters are located in the Bank of Canada Building at the corner of Wellington and Bank Streets in downtown Ottawa.