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?
Latest News
Big banks respond to fintech challenge by cutting fees and offering new options May 10th
OTTAWA – Technology firms have turned several industries on their head. The way people buy books, hail a ride home from the bar or find a room for the night while on vacation have all changed.
And now financial technology or fintech firms are turning their sights on the banking industry, but C.... More »
Best robo-advisors in Canada for 2026 Feb 11th
The name may be offputting, but robo-advisors occupy a key middle way in the investment landscape between do-it-yourself investing and having a live investment advisor. They will cost you a lot less than a commissioned or fee-for-service advisor and the often pricey investment products they recommen.... More »
Streetwise newsletter: CIBC mulls offering Caribbean subsidiary; MTY strikes $248-million deal for Imvescor + MORE Dec 12th
Plus: New wealth management firm sets sights on Canada's big banks
.... More »
At midday: TSX down with oil, banks fall on bond yield dip + MORE Jun 9th
Commodities end winning streaks as growth optimism ebbs
.... 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 »
CMHC: Banks should pay deductible on mortgage insurance
– moneysense.ca
TORONTO – Canada Mortgage and Housing Corporation is continuing to explore the possibility of forcing banks to shoulder more of the risk associated with home mortgage loans.
During a speech in Calgary, CMHC president and CEO Evan Siddall said the option of requiring lenders to pay a deductible on mortgage insurance claims is still on a table.
According to speaking notes posted on the website of the federal housing agency, Siddall told his audience that the CMHC is working with a number of government entities, including the Department of Finance and the Bank of Canada, to examine ways of better distributing risk across the financial system.
We don’t charge you mortgage insurance: CMHC »
The idea of having banks pay a deductible on mortgage insurance claims was first floated by CMHC under the previous Conservative government.
It’s been unclear whether the new Liberal government is interested in pursuing the idea.
Homebuyers with less than a 20 per cent down payment are required to obtain mortgage default insurance from either CMHC or one of the private mortgage insurers…
During a speech in Calgary, CMHC president and CEO Evan Siddall said the option of requiring lenders to pay a deductible on mortgage insurance claims is still on a table.
According to speaking notes posted on the website of the federal housing agency, Siddall told his audience that the CMHC is working with a number of government entities, including the Department of Finance and the Bank of Canada, to examine ways of better distributing risk across the financial system.
We don’t charge you mortgage insurance: CMHC »
The idea of having banks pay a deductible on mortgage insurance claims was first floated by CMHC under the previous Conservative government.
It’s been unclear whether the new Liberal government is interested in pursuing the idea.
Homebuyers with less than a 20 per cent down payment are required to obtain mortgage default insurance from either CMHC or one of the private mortgage insurers…
Canada Mortgage and Housing Corporation is continuing to explore the possibility of forcing banks to shoulder more of the risk associated with home mortgage loans.
