Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
Canadians Ill-Prepared for a Rate Hike; Unprecedented Debt Imminent + MORE Jun 30th
A new report finds Canadians are facing a future where an unprecedented amount of household income will go towards debt servicing.
The Household Indebtedness and Financial Vulnerability report by the Parliamentary Budget Officer is raising concerns on the level of household debt amongst Canadians. .... More »
How Deferring Mortgage Payments Could Affect Your Credit Score + MORE Apr 14th
For the past few weeks, we’ve become accustomed to Prime Minister Trudeau’s daily update from Rideau Cottage in Ottawa. To help ease the economic impact of the COVID-19 pandemic, the government has put forward several measures intended to support those who have lost their jobs due to the outbre.... More »
The best high-interest savings accounts in Canada for 2024 + MORE Aug 19th
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The best high-interest savings accounts in Canada for 2024
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World stock markets mostly higher as interest rate cut by China boosts resource shares + MORE Mar 2nd
TOKYO – World stock markets were mostly higher Monday as a weekend interest rate cut by the Chinese central bank lifted sentiment following a lower estimate of U.S. economic growth last quarter.
KEEPING SCORE: Britain’s FTSE 100 gained 0.3 per cent to 6,964.66 and Germany’s DAX cli.... More »
What's closed on Victoria Day - Toronto Sun + MORE May 21st
Toronto SunWhat's closed on Victoria DayToronto SunHere's a list of what is open, closed — and happening: CLOSED. • The Toronto Sun will not be publishing tomorrow, Victoria Day. •LCBO stores and the Beer Store. • Banks, government offices and municipal buildings, including librari.... More »
European Central Bank review could push weak banks to raise money, restructure
– canadianbusiness.com
FRANKFURT – The European Central Bank on Sunday will reveal the results of a yearlong search through the books of Europe’s 130 biggest banks, a key part of the region’s effort to recover from its debt and economic crisis.
The review aims to weed out banks that are hiding financial problems that keep them from lending to businesses at affordable rates. Companies need the loans to invest and hire if Europe’s economy, which didn’t grow at all in the second quarter and has unemployment of 11.5 per cent, is to improve.
Banks that flunk the review could be forced to raise money, restructure or be sold off. That could cause some market turmoil in the short term as banks scramble to find cash from investors or governments.
But in the longer term, the hope is that this will create stronger banks. In Europe, businesses are more dependent on bank loans than in the United States, where companies more often raise funds through bond markets.
Here’s a brief guide to the test:
— It reviews the banks’ loans, holdings and investments as of the end of 2013…
The review aims to weed out banks that are hiding financial problems that keep them from lending to businesses at affordable rates. Companies need the loans to invest and hire if Europe’s economy, which didn’t grow at all in the second quarter and has unemployment of 11.5 per cent, is to improve.
Banks that flunk the review could be forced to raise money, restructure or be sold off. That could cause some market turmoil in the short term as banks scramble to find cash from investors or governments.
But in the longer term, the hope is that this will create stronger banks. In Europe, businesses are more dependent on bank loans than in the United States, where companies more often raise funds through bond markets.
Here’s a brief guide to the test:
— It reviews the banks’ loans, holdings and investments as of the end of 2013…
Regulators close small bank in Illinois; brings US bank failures to 16 in 2014
– canadianbusiness.com
WASHINGTON – Regulators have closed a small lender in Illinois, bringing U.S. bank failures this year to 16 after 24 closures in all of 2013.
The Federal Deposit Insurance Corp. said Friday that it has taken over The National Republic Bank of Chicago, based in Chicago.
The bank, which operated two branches, had about $954.4 million in assets and $915.3 million in deposits as of June 30.
State Bank of Texas, based in Dallas, has agreed to buy about $626.1 million of the failed bank’s assets and assume all of National Republic Bank’s deposits.
National Republic Bank is the fifth FDIC-insured institution to fail in Illinois this year. Its failure is expected to cost the deposit insurance fund $111.6 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago…
The Federal Deposit Insurance Corp. said Friday that it has taken over The National Republic Bank of Chicago, based in Chicago.
The bank, which operated two branches, had about $954.4 million in assets and $915.3 million in deposits as of June 30.
State Bank of Texas, based in Dallas, has agreed to buy about $626.1 million of the failed bank’s assets and assume all of National Republic Bank’s deposits.
National Republic Bank is the fifth FDIC-insured institution to fail in Illinois this year. Its failure is expected to cost the deposit insurance fund $111.6 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago…
