The Bank of Canada, BoC (French: Banque du Canada) is Canada's central bank. The Bank was chartered by and under the Bank of Canada Act on July 3, 1934, as a privately-owned corporation. In 1938, the Bank was legally designated a federal Crown corporation, whose shares are owned by the Government of Canada, and executively administered by the Crown in Right of Canada through the Governor of the Bank of Canada. The Minister of Finance holds the entire share capital issued by the bank.