Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
TD Bank joins RBC in hiking fixed mortgage rates + MORE Nov 18th
TORONTO – TD Bank (TSX:TD) has quietly increased its fixed mortgage rates ahead of a similar move by Royal Bank of Canada (TSX:RY) to take effect Thursday, the latest sign that Canada’s big banks are hiking the costs of borrowing for homeowners.
Cheryl Ficker, a spokeswoman for TD, said Wednesda.... More »
The best GIC rates in Canada for 2026 Apr 16th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
As fees rise, banks count on your complacency: Mayers Aug 4th
When banks make changes to fee packages it is often hard to compare old with new. They’re counting on your inertia..... More »
Big bank, insurance CEOs announce new business growth fund of up to $1B + MORE Mar 9th
Federal Finance Minister Bill Morneau and some of Canada's biggest banks and insurance companies today unveiled a $1-billion fund aimed at helping small- and medium-sized businesses access cash to help them grow..... More »
At the open: TSX slips as banks, resources stocks weigh + MORE Nov 20th
Tech stocks lead Wall Street higher
.... 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…
