18:28:27 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



Toronto-Dominion Bank
Symbol TD
Shares Issued 1,802,041,163
Close 2023-12-08 C$ 81.01
Market Cap C$ 145,983,354,615
Recent Sedar Documents

Globe says CIBC, rivals hear digital loonie has issues

2023-12-11 08:00 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)

The Globe and Mail reports in its Monday, Dec. 11, edition that in June, the Bank of Canada concluded six weeks of on-line public consultations about issuing a digital Canadian dollar. The Globe's guest columnist Ori Freiman writes that almost 90,000 Canadians participated in the survey. Nearly all who answered had heard about the idea of a digital Canadian dollar, the results were clear: privacy matters, and there is a major distrust of institutions with respect to how they handle private data. According to the report, 85 per cent of the respondents would not use a digital Canadian dollar. Not surprisingly, most people ranked the ability to make private transactions as the most important potential feature of such a currency. When it comes to the potential issuer of the digital Canadian dollar, 79 per cent of people distrust the Bank of Canada's ability to safeguard their sensitive financial information. Assuming the BOC is a digital fortress, it must act to improve public trust in its ability to protect personal data. Another point to consider is that 78 per cent of respondents do not believe the BOC will consider their feedback as it builds the capacity to issue a digital dollar.

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