Bank of Canada operates as the central bank in Canada. It provides monetary policy, currency, financial system, funds management, and retail debt services in Canada. The bank’s monetary policy is to contribute to economic performance by keeping inflation low, stable, and predictable. It designs, produces, and distributes Canadian bank notes focusing on counterfeit deterrence through research on security features, public education, and partnership with law enforcement; and replaces and destroys worn notes. Bank of Canada routinely provides liquidity to financial institutions, such as banks, credit unions, and similar organizations. The bank acts as a fiscal agent for the Government of Canada and manages the accounts of the Receiver General, through which money collected and spent by the government flows; manages the government's foreign exchange reserves; and provides policy advice to the government on the management of public debt, such as outstanding government securities and sells the securities at auction to financial market distributors and dealers. Bank of Canada provides operations and systems support services, accounting, and advice for the retail debt program, under which the government issues Canada Savings Bonds and Canada Premium Bonds. The bank was founded in 1934 and is headquartered in Ottawa, Canada.