November 7, 2012

Bank of Canada issues $20 polymer bank note

OTTAWA-- The Bank of Canada announced the entry into circulation of the new $20 polymer bank notes during a ceremony at the Canadian War Museum in Ottawa. A similar event took place in Toronto at Sunnybrook Health Sciences Centre in the George Hees Wing (veteran residence).

Bank of Canada Governor Mark Carney was joined at the Ottawa event by Minister of Finance Jim Flaherty, Minister of Veterans Affairs Steven Blaney, and David Houghton, President of the Vimy Foundation.

"The introduction of the $20 note is an important milestone for the new Polymer series. Making up half of all bank notes in circulation, the $20 note is the most used denomination," said Governor Carney. "Our safer, cheaper, greener polymer notes will soon be part of Canadians' daily lives. That is why the Bank of Canada has been working closely with Canada's financial sector and the cash-handling industry since 2009 to help prepare for and support a successful transition to the Polymer series."

The front of the new $20 note features a portrait of Her Majesty Queen Elizabeth II, Queen of Canada, while the imagery on the back of the note features the Canadian National Vimy Memorial. This iconic monument, located in Vimy, France, commemorates the 1917 Victory at Vimy Ridge and honours Canadians who fought and gave their lives in the First World War in France and who have no known grave.

"It is fitting that we are launching these new notes at the Canadian War Museum only a few days before Remembrance Day. These new notes pay tribute to the sacrifices of Canadian men and women who fought to protect Canada and its allies in all military conflicts," said Minister Flaherty. "They also protect Canadians from the threat of counterfeiting. The Polymer series is a Canadian innovation of which we can all be proud."

Starting today, the new notes will gradually become available at financial institutions across Canada. The remaining bank notes in the series - the $5 and $10 notes - will be issued by the end of 2013.









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