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An Exploration of First Nations Reserves and Access to Cash

Author

Listed:
  • Heng Chen
  • Walter Engert
  • Kim Huynh
  • Daneal O’Habib

Abstract

Providing bank notes is one of the Bank of Canada’s core functions. The Bank is therefore interested in whether cash is adequately distributed across society, and this also influences the Bank’s thinking on issuing a central bank digital currency. We provide a perspective on these issues by exploring access of First Nations reserves to cash. To do so, we measure the distance between the 637 reserve band offices in Canada and their closest cash sources. In this study, these cash sources are branches of financial institutions (FIs), automated bank machines (ABMs) owned by FIs, and white label ABMs. We measure the distance between band offices and cash sources by geographical distance (“as the crow flies”) and by travel distance (e.g., road routes). We also provide some information on access to financial services more generally and set out questions for future research.

Suggested Citation

  • Heng Chen & Walter Engert & Kim Huynh & Daneal O’Habib, 2021. "An Exploration of First Nations Reserves and Access to Cash," Discussion Papers 2021-8, Bank of Canada.
    • Handle: RePEc:bca:bocadp:21-8
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    References listed on IDEAS

    as
    1. Heng Chen & Matthew Strathearn, 2020. "A Spatial Model of Bank Branches in Canada," Staff Working Papers 20-4, Bank of Canada.
    2. John Richards, 2018. "Pursuing Reconciliation: The Case for an Off-Reserve Urban Agenda," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 526, November.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ueda, Kozo, 2024. "Effects of bank branch/ATM consolidations on cash demand: Evidence from bank account transaction data in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 71(C).
    2. Heng Chen & Marie-Hélène Felt, 2022. "Canadians’ Access to Cash Before and During the COVID-19 Pandemic," Discussion Papers 2022-15, Bank of Canada.
    3. Heng Chen & Walter Engert & Kim Huynh & Daneal O’Habib, 2022. "Identifying Financially Remote First Nations Reserves," Discussion Papers 2022-11, Bank of Canada.
    4. Walter Engert & Kim Huynh, 2022. "Cash, COVID-19 and the Prospects for a Canadian Digital Dollar," Discussion Papers 2022-17, Bank of Canada.

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    More about this item

    Keywords

    Bank notes; Digital currencies and fintech; Financial institutions; Financial services; Payment clearing and settlement systems;
    All these keywords.

    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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