The E-Sylum:  Volume 10, Number 6, February 11, 2007, Article 26

BANK OF CANADA ANNOUNCES BANKNOTE REDESIGN

The Bank of Canada is planning a major redesign of the country's
banknotes. Brian Zimmer writes: "I came across the following remarks
by David Longworth, Deputy Governor of the Bank of Canada to the
Greater Kitchener Waterloo Chamber of Commerce Waterloo, Ontario,
6 February 2007:

"'To deter counterfeiting, we do three key things. First, we take
a great deal of care in designing bank notes. As I speak, my colleagues
at the Bank are hard at work designing the next generation of bank
notes, planned for introduction beginning in 2011...'"

To read the full text of Zimmer's speech: Full Story

That same day, another Bank of Canada official made a similar
announcement, which was picked up by the general press:

"'As I speak, my colleagues at the bank are hard at work designing
the next generation of banknotes, planned for introduction beginning
in 2011,' David Longworth said during a Chamber of Commerce speech
in Kitchener-Waterloo, Ont., on Tuesday.

"'By 2009, we aim to reduce the level of counterfeiting to fewer
than 100 counterfeits detected annually per million notes in
circulation,' he said. That's down from 225 per million in 2006,
326 per million in 2005 and 470 per million in 2004.

"'Can we do better?' Longworth asked his audience, just before
answering his own question. 'We think we can.'"

To read the complete article, see: Full Story

  Wayne Homren, Editor

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