Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
How do mortgage brokers get paid? Feb 18th
Q. Is it typical to pay a mortgage broker fee in advance, and before closing?
My broker is saying that I have to pay cash one week before closing, and that he will pay other persons who are involved. I am confused as to why brokers payment in advance and in cash.
–Adil
A. A mortgage broker can obt.... More »
The best GIC rates in Canada for 2025 Mar 11th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigat.... More »
Why Canada isn’t immune to a U.S.-style housing crash + MORE Jul 11th
Skeletons of abandoned housing developments in California in 2009
Investors should stay away from the Canadian housing market, warns a new report from Chicago-based investment firm Morningstar. A house price correction is “inevitable” within the next five years and could send house prices fallin.... More »
What Should You Do With Your Tax Return? Apr 26th
Getting a bit of extra money is always a bonus, and it turns out the average tax return in Canada is around $1,600. In 2019 so far, the CRA reports the average tax return at $1,614. So if you get a refund, what should you do with it?
If you decide to invest it, what’s the best vehicle? A .... More »
The Fed Needs Governors Who Aren't Wall Street Insiders Nov 18th
With two vacancies to fill, Obama should pick nominees who will look out for Main Street, not the big banks..... More »
Germany urges stronger EU economic policy co-ordination as leaders discuss banking union
– canadianbusiness.com
BRUSSELS – Germany’s chancellor says the 17-nation eurozone must achieve a stronger co-ordination of its economic policies to remain competitive and spur growth.
Angela Merkel’s comments on Thursday come as her government seeks to convince European partners to hand the EU Commission, the bloc’s executive arm, more powers to oversee the member states’ economic policies.
Merkel said ahead of a summit of the European Union’s 28 national leaders she’s convinced the eurozone must “collaborate yet more, yet closer … than we do at present.”
EU leaders were also set to discuss the timeline for the next steps of the bloc’s planned banking union that aims at stabilizing its financial system. They still disagree over how to set up and fund a European authority capable of bailing out or winding down bust banks.
The post Germany urges stronger EU economic policy co-ordination as leaders discuss banking union appeared first on Canadian Business.
Angela Merkel’s comments on Thursday come as her government seeks to convince European partners to hand the EU Commission, the bloc’s executive arm, more powers to oversee the member states’ economic policies.
Merkel said ahead of a summit of the European Union’s 28 national leaders she’s convinced the eurozone must “collaborate yet more, yet closer … than we do at present.”
EU leaders were also set to discuss the timeline for the next steps of the bloc’s planned banking union that aims at stabilizing its financial system. They still disagree over how to set up and fund a European authority capable of bailing out or winding down bust banks.
The post Germany urges stronger EU economic policy co-ordination as leaders discuss banking union appeared first on Canadian Business.
Fed proposes big banks keep more cash and assets on hand to survive another financial crisis
– canadianbusiness.com
WASHINGTON – The Federal Reserve on Thursday proposed that big banks keep enough cash, government bonds and other high-quality assets on hand to survive during a severe downturn on par with the 2008 financial crisis.
The proposal subjects U.S. banks for the first time to so-called “liquidity” requirements. Liquidity is the ability to access cash quickly.
The largest banks — those with more than $250 billion in assets — would be required to hold enough cash and securities to fund their operations for 30 days during a time of market stress. Smaller banks — those with more than $50 billion and less than $250 billion — would have to keep enough to cover 21 days.
Fed officials said the rules are stronger than new international standards for banks. The public has 90 days to comment on them. After that, they would be phased in starting in January 2015.
“Liquidity is essential to a bank’s viability and central to the smooth functioning of the financial system,” Fed Chairman Ben Bernanke said…
The proposal subjects U.S. banks for the first time to so-called “liquidity” requirements. Liquidity is the ability to access cash quickly.
The largest banks — those with more than $250 billion in assets — would be required to hold enough cash and securities to fund their operations for 30 days during a time of market stress. Smaller banks — those with more than $50 billion and less than $250 billion — would have to keep enough to cover 21 days.
Fed officials said the rules are stronger than new international standards for banks. The public has 90 days to comment on them. After that, they would be phased in starting in January 2015.
“Liquidity is essential to a bank’s viability and central to the smooth functioning of the financial system,” Fed Chairman Ben Bernanke said…
