Five bank towers, one stock exchange

Toronto's Economy: Bay Street

Toronto has been Canada's financial capital since the 1970s, when Bay Street took that role from Montreal's St. James Street — here's what actually sits in the Financial District.

Bay Street in Toronto's Financial District — Bay Street, Financial District — Wikimedia Commons, Creative Commons licensed

"Bay Street" functions the way "Wall Street" does in the U.S. — a specific street that's become shorthand for an entire national industry.

Canada's financial capital since the 1970s

Bay Street became the centre of Canadian finance in the 1970s, taking over from Montreal's St. James Street. It's now home to the headquarters of five of Canada's major banks — Bank of Montreal, Scotiabank, CIBC, TD Bank and RBC — plus the Toronto Stock Exchange (TSX), one of the world's largest, located just a block away at York and King.

What's actually downtown

Beyond the banks: a dense cluster of law firms, insurance companies, pension funds and accounting firms, all within walking distance of Union Station — which is exactly why the Financial District's skyline (and the PATH network underneath it) is as dense as it is.

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