Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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The best GIC rates in Canada for 2024 + MORE May 21st
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The best GIC rates in Canada for 2024
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Find the best rate
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Swiss police say they've caught Canada's Vaulter bandit - The Globe and Mail + MORE Sep 16th
The Globe and MailSwiss police say they've caught Canada's Vaulter banditThe Globe and MailCanada's most notorious bank robber, known as the Vaulter, might have had a past life, as someone known in the United States as the Reebok Bandit. For more than five years, a grey-haired man had.... More »
Drip, drip, drip: Why Canadians pay fees for everything Jan 3rd
When Xianjun Geng checked into his San Francisco hotel one evening a few years ago, he thought he’d gotten a great deal. He’d booked the room on a discount-hotel website and had driven down the Pacific Coast from Seattle, then his home, to the city by the bay. “It was a fantastic price. I was.... More »
Iran calls for US to ease banking restrictions Apr 16th
TEHRAN, Iran – Iran’s foreign minister on Saturday called on the United States to ease restrictions on non-American banks doing business with the Islamic Republic, saying it would help reassure Iranians over last year’s nuclear deal.
“Iran will definitely put pressure on the .... More »
The best high-interest savings accounts in Canada for 2025 + MORE Feb 10th
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Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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Regulators: Concerned that lenders approving too many risky loans
– canadianbusiness.com
WASHINGTON – Federal regulators say they’re concerned about a continued heavy risk in large loans made by banks and other financial institutions, with the amount of risky loans remaining at double the levels before the financial crisis.
The Federal Reserve and other agencies say that a large portion of the risk comes from loans made to investment firms for financing takeovers of companies. Those loans, called leveraged loans, accounted for 22.6 per cent of total large loans outstanding and 74.7 per cent of the loans deemed risky by the regulators, according to the agencies’ latest annual review.
The review found “serious deficiencies” in credit standards for making leveraged loans and in managing their risk.
Overall, the review found that $340.8 billion, or 10.1 per cent, of big loans outstanding were deemed risky — enough for the examiners to criticize them in writing to the lenders. That’s about double the levels preceding the crisis that struck in 2008…
The Federal Reserve and other agencies say that a large portion of the risk comes from loans made to investment firms for financing takeovers of companies. Those loans, called leveraged loans, accounted for 22.6 per cent of total large loans outstanding and 74.7 per cent of the loans deemed risky by the regulators, according to the agencies’ latest annual review.
The review found “serious deficiencies” in credit standards for making leveraged loans and in managing their risk.
Overall, the review found that $340.8 billion, or 10.1 per cent, of big loans outstanding were deemed risky — enough for the examiners to criticize them in writing to the lenders. That’s about double the levels preceding the crisis that struck in 2008…
A Canadian Fee Crackdown
– ratesupermarket.ca
It has been a busy week for money rule makers – and recent changes could directly affect your wallet. The government has given the word on two controversial issues close to Canadian consumers – the introduction of the long-promised income splitting tax credit, and a reduction of credit card processing fees for your favourite retailers. These measures seem like they’ll save you money – but how much will consumers really benefit?
ant to know more? Check out our full coverage below.
In Credit Cards: Interchange Fees – What You Need to Know
Credit card giants Visa and MasterCard announced they will voluntarily reduce the credit card interchange fees paid by retailers to about half.
How will this benefit you as a consumer – and what should you keep a close eye out for?
Read Penelope’s Blog | Interchange Fees – What You Need to Know
In Mortgages: How to Finance a U.S. Home Purchase
Want to join the ranks of snowbirds who fly south of the border when Canadian temperatures drop? American real estate can be a great deal – but there are mortgage challenges facing foreign buyers…
ant to know more? Check out our full coverage below.
In Credit Cards: Interchange Fees – What You Need to Know
Credit card giants Visa and MasterCard announced they will voluntarily reduce the credit card interchange fees paid by retailers to about half.
How will this benefit you as a consumer – and what should you keep a close eye out for?
Read Penelope’s Blog | Interchange Fees – What You Need to Know
In Mortgages: How to Finance a U.S. Home Purchase
Want to join the ranks of snowbirds who fly south of the border when Canadian temperatures drop? American real estate can be a great deal – but there are mortgage challenges facing foreign buyers…
