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
Is now the time for retirees to sell stocks and buy GICs? Aug 2nd
Ask MoneySense
My husband is retired and concerned that his money that is invested in his RRSP and TFSA is fluctuating too much. He is retired and is wondering if his funds should be in a GIC account as it’s paying 4% and not losing principal. He’s concerned in this volatile market.—Rodeen
.... More »
Excuse me, you bought what? + MORE Sep 20th
(Illustration by Josh Holinaty)
If the idea of negative interest rates sounds screwed up to you, it should. On the one hand we have central bankers in Europe and Japan lowering their lending rates into negative territory, which means they charge the major banks money just to hold their reserves over.... More »
Wealthsimple Crypto Review: Cryptocurrency Investing Made Easy Apr 23rd
In July 2020, Wealthsimple unveiled the upcoming Wealthsimple Crypto, and with that, Canada’s leading Robo-advisor officially entered the cryptocurrency trading game. In this full review, I’ll cover everything you need to know, and hopefully answer any questions you have.
Introducing W.... More »
What is cryptocurrency? And how do you invest in it? Aug 19th
You can’t read a news site, watch a YouTube video or scroll any social media platform without coming across a reference to bitcoin, ethereum or other cryptocurrencies. Maybe your own friends and family members are nattering non-stop about their crypto investments.
Time will tell if crypto is th.... More »
Looking for a mortgage in B.C.? Don’t limit your options to the big banks Nov 9th
At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... More »
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…
