The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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The best high-interest savings accounts in Canada for 2025 + MORE Oct 14th
Savings comparison tool
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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This mortgage loophole puts us at risk + MORE Jun 27th
If the Canadian housing market were to crash it would be catastrophic. At least, that’s the synopsis of the latest Moody’s Investors Service report.
According to their analysis the six big banks would lose nearly $12 billion while CMHC and other mortgage insurers would be on the hook for as muc.... More »
Deep-value stocks on the verge of a turnaround? + MORE Oct 1st
Many investors are getting reacquainted with that panicky feeling they felt back in 2008. One type of investor, though, may be welcoming the correction. Deep-value buyers—people who look for stocks that are trading at a large discount to what they appear to be really worth—have had a rough go ov.... More »
Worried about your credit rating? Avoid these 5 credit card mistakes + MORE Oct 26th
You don’t think about your credit rating opening doors for you—until it abruptly swings one shut. However, in order to appreciate what you could do differently to improve your credit rating, it helps to understand what exactly that is.
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Cut unnecessary costs with one simple change to your banking Dec 10th
If you’re like many Canadians, you view bank fees as a necessary expense, but this couldn’t be farther from the truth. Paying a small fee each month isn’t usually much trouble, but over a whole year, it can really add up. The good news is that affordable banking has never been more in .... More »
The Week of the Central Banks
– macleans.ca
This will be a busy week on the global economic calendar, including several meeting by central banks, which should give clearer signs of the growth expectations for the next year, amidst low oil prices and low inflation. Let’s start with a run down of what’s to come.
Central banks, quantitative easing, and a Greek election.
The week will start slow – markets are closed today in the U.S. for Martin Luther King Jr. Day.
Tomorrow, we’ll see major numbers for China for December and the fourth quarter, including real GDP and industrial production, and the beginning of a two-day meeting by Japan’s central bank.
The big day for Canada is Wednesday, when we’ll see the Bank of Canada’s policy announcement and monetary policy report. There’s no expectation of a rate hike, but analysts will be watching closely for hints of when a hike could come. Wednesday also means the launch of the World Economic Forum in Davos, Switzerland, where global inequality is expected to be one of the major issues on the table…
Desjardins and Best Buy Announce Credit Card Partnership
– ratesupermarket.ca
After cutting its ties with Chase Bank, Best Buy recently announced that its private-label credit card portfolios will now be managed by Desjardins Group. The move also applies to Future Shop, a subsidiary of Best Buy.
The Chase-managed Best Buy Reward Zone Visa will be deactivated at the end of February and the new Best Buy-Desjardins partnership will take effect on April 15.
No New Rewards Offerings
The new Best Buy and Future Shop private label cards will not offer reward programs. “Their main purpose is to offer financing options on purchases,” says Philip Ward, managing director of commercial business development for Desjardins Card and Payment Services. Ward says the benefit to customers using the cards is unique.
“Customers shopping at these stores will be able to take advantage of Desjardins’ Accord D financing solution,” Ward explains. “Accord D financing is a second credit limit, that does not affect the current one, that carries a different interest rate on a Desjardins card…
Fitch: Greek bank strain ‘manageable’ despite uncertainty of Sunday’s national election
– canadianbusiness.com
ATHENS, Greece – The ratings agency Fitch says political uncertainty ahead of Sunday’s national election in Greece could further test the country’s banks but described the strain as “manageable.”
The agency said Monday it expected a 2 per cent drop in Greek deposits due to the Jan. 25 election, compared to a drop of more than 9 per cent when two consecutive elections were held in 2012 and the country faced an exit from the eurozone.
Weekend opinion polls showed conservative Prime Minister Antonis Samaras’ New Democracy party trailing the anti-bailout Syriza party in voter support and that a coalition government is likely to emerge from Sunday’s vote.
Greece’s four major banks are seeking emergency liquidity assistance just in case, which requires approval by the European Central Bank.
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Online:
Fitch statement: http://goo.gl/brEnkK
The post Fitch: Greek bank strain ‘manageable’ despite uncertainty of Sunday’s national election appeared first on Canadian Business.
The agency said Monday it expected a 2 per cent drop in Greek deposits due to the Jan. 25 election, compared to a drop of more than 9 per cent when two consecutive elections were held in 2012 and the country faced an exit from the eurozone.
Weekend opinion polls showed conservative Prime Minister Antonis Samaras’ New Democracy party trailing the anti-bailout Syriza party in voter support and that a coalition government is likely to emerge from Sunday’s vote.
Greece’s four major banks are seeking emergency liquidity assistance just in case, which requires approval by the European Central Bank.
__
Online:
Fitch statement: http://goo.gl/brEnkK
The post Fitch: Greek bank strain ‘manageable’ despite uncertainty of Sunday’s national election appeared first on Canadian Business.
