Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
CIBC & TD Bank Q4 2018 Earnings Nov 30th
The Globe and Mail, Tim Kiladze, 29 November 2018
Toronto-Dominion Bank and Canadian Imperial Bank of Commerce can thank a hot U.S. economy for higher profits. But the banks' sizable American operations aren’t expected to deliver as much growth in 2019 because of rising competition.
TD and CIBC,.... More »
Greece settles terms with EU to get $14B bailout for banks + MORE Nov 17th
Greece struck a deal with European creditors Tuesday on economic measures it needs to make to get its next batch of bailout money, including a €10 billion ($14.3 billion Cdn) cash injection for its crippled banks..... More »
Canada U.S. tax information sharing deal open to abuse May 15th
OTTAWA—Canada’s privacy watchdog is urging the federal government to protect the personal information of Canadians affected by a new tax-information sharing agreement with Washington.
Interim privacy commissioner Chantal Bernier says a controversial bilateral agreement to comply with new U.S.... More »
Achieva Financial Review: Digital Banking from the Heart of Canada Dec 18th
Canadians are fortunate to have so many choices regarding no-fee online banking and high-interest savings accounts. Names like Tangerine, EQ, and Simplii have become commonplace, to mention just a few. But if you’re shopping around for a digital bank to deal with, there’s another name you can ad.... More »
Forgot to File Your Taxes Last Year? What You Need to Know Jun 6th
If filing your taxes before the deadline went over your head this year, procrastinating can only make things worse.
Unlike sales tax, which is a pay-at-the-pump proposition, Canada’s income tax system is based on self-assessment. Make your money, plan your affairs as best you can and then, pay up.... More »
Sally Miller: The Fed Takes Aim at Foreign Banks
– online.wsj.com
Bernanke’s proposed rules run counter to Dodd-Frank’s intent.
Data sheds light on big banks and mortgage market
– canequity.com
While much has been made of forecasts and feelings regarding Canada's mortgage market in the last few months, nothing compares to cold, hard facts. Fortunately, Canadian Mortgage Trends has compiled a list of various figures from Canada's six largest banks to give a glimpse into the current state of the market. Citing quarterly earnings reports, presentations and conference calls, the data gives Canadian consumers a peek behind the window dressing at Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC), National Bank of Canada (NBC), Royal Bank of Canada (RBC), Scotiabank and TD Bank.
Mortgage activity rises for most
Outside of CIBC, which saw mortgage activity decline by $1.3 billion during the second quarter of 2013, all other banks tracked saw year-over-year increases. BMO experienced a 13.7 percent rise in mortgage balances compared to the same time last year, as well as 1.9 percent on a quarter-over-quarter basis. NBC saw residential mortgage activity rise 13 percent year-over-year, as well as 4 percent quarterly…
Mortgage activity rises for most
Outside of CIBC, which saw mortgage activity decline by $1.3 billion during the second quarter of 2013, all other banks tracked saw year-over-year increases. BMO experienced a 13.7 percent rise in mortgage balances compared to the same time last year, as well as 1.9 percent on a quarter-over-quarter basis. NBC saw residential mortgage activity rise 13 percent year-over-year, as well as 4 percent quarterly…
Success stories make it seem like crowdfunding websites drop cash from the heavens on to any deserving idea. But regulators and big banks are now taking a closer look at the controversial new field, Dianne Buckner writes.
