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
Bank regulator imposes tighter restrictions on Wells Fargo Nov 20th
WASHINGTON – A federal banking regulator has imposed tighter restrictions on Wells Fargo & Co., requiring the banking giant to get advance approval from regulators before making a wide range of business decisions.
The Office of the Comptroller of the Currency, which oversees national banks.... More »
Canadian banks plan smaller increase in compensation bonuses this year + MORE Dec 3rd
Trend reflects shrinking investment-banking fees, slower revenue growth
.... More »
U.S. banks’ dismal first quarter may spell trouble Apr 10th
Analysts forecast a 20-per-cent decline on average in earnings from the six biggest U.S. banks, according to Thomson Reuters I/B/E/S data
.... More »
Unusually large swarm of icebergs drifts into shipping lanes - Herald-Whig + MORE Apr 6th
Herald-WhigUnusually large swarm of icebergs drifts into shipping lanesHerald-WhigThis March 2017 photo released by the U.S. Coast Guard and made by a robotic camera aboard a reconnaissance aircraft, shows icebergs floating near the Grand Banks of Newfoundland in the North Atlantic Ocean. There were.... More »
Canada's big banks are no angels, but have any laws been broken? Mar 18th
There isn’t any evidence yet that banking managers have specifically directed tellers and advisers to break regulations
.... More »
The Federal Reserve will require the largest foreign banks operating in the United States to hold higher levels of capital reserves to protect against potential loan losses.
3 Foolproof Ways To Bust Your Money Stress
– ratesupermarket.ca
Stressed out over your finances (or lack thereof)? Debt troubles are becoming a prominent trend in Canada – the consumer debt load recently clocked in at $1.4 trillion! And credit card debt leads the pack as a stress source – the average Canadian carries a balance of $3,277.33. It’s no wonder that 46.6 per cent of Canadians rate low interest as a top credit card feature.
So, what can you do if you’re carrying a hefty balance? The good news is there are ways to effectively stop a credit card debt spiral.
Step 1: Switch To A Kinder Interest Rate
Credit cards carry some of the highest interest rates around, with most charging between 19 and 21 per cent for purchases extending beyond the grace period. It’s these interest payments that morph a medium-sized debt load into an ever-growing beast that’s impossible to pay down.
Credit cards with low balance transfer features help break the debt-inducing pattern by offering a much lower interest rate for a limited time. This gives cardholders the chance to pay down their principal debt faster, and take control of their credit card balance…
Get used to volatility: BMO says it’s the “new normal”
– moneysense.ca
A study coming out today from BMO Global Asset Management says 77% of Canadian investors feel market volatility is the “new normal” and here to stay. Virtually all (96%) of the 1,002 that were polled online early this year believe balancing investment risk is important. Major factors involved in this are long-term rate of return (95%); diversification (86%) and short-term rate of return (72%).
Uppermost in investors’ minds are considerations like stretched stock valuations, weaning of monetary policy support from central banks and emerging market liquidity strains. As a result, BMO chief investment officer Paul Taylor expects volatility will continue for at least another year or two.
Retiring boomers especially sensitive to this volatility
Those near retirement need to pay special attention to this. In a press release, BMO singles out baby boomers approaching retirement, urging them to focus on reducing risk and “take a more conservative investing approach to preserve their nest egg…
Uppermost in investors’ minds are considerations like stretched stock valuations, weaning of monetary policy support from central banks and emerging market liquidity strains. As a result, BMO chief investment officer Paul Taylor expects volatility will continue for at least another year or two.
Retiring boomers especially sensitive to this volatility
Those near retirement need to pay special attention to this. In a press release, BMO singles out baby boomers approaching retirement, urging them to focus on reducing risk and “take a more conservative investing approach to preserve their nest egg…
