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
Wells Fargo eases lending standards for jumbo mortgages Aug 6th
U.S. banks are loosening mortgage criteria as the industry seeks to replace lost revenue
.... More »
Starbucks U.S. food waste plan has Canadian food banks 'delighted' Mar 26th
A lofty plan to reduce food waste at U.S. Starbucks locations by donating it to food banks won't be coming to Canada just yet, but some food banks here already have relationships with their local Starbucks..... More »
Chicagoans' Thoughts Turn to Mr. Cub Oct 17th
Taking on the New York Mets for a shot at the World Series that Ernie Banks never had..... More »
How to achieve financial goals with your spouse Apr 1st
Shannon Jarrett and Marcin Duran are the original odd couple when it comes to reconciling their very different approaches to money management. Despite sharing a home and domestic life together (including two kids) in Hamilton, Ont., they’re by and large living separate financial lives. “We donâ€.... More »
Canada’s best no foreign transaction fee credit cards 2022 Oct 8th
Canadians love to travel, but when shopping with their credit cards outside of Canada, many pay foreign transaction fees—as much as 2.5%—on every purchase. The good news is there’s a good selection of credit cards out there that either offer no foreign transaction fees or return more than enou.... More »
June Mortgage Rate Wars – Just Heating Up?
– ratesupermarket.ca
Lenders to continue competitive discounting tactics through summer months
June 4, 2014: Toronto, Ontario – There’s nothing lukewarm about lenders’ efforts to stay competitive in this spring’s mortgage market. Rate discounting battles have risen with the mercury, providing buyers with a slew of affordable options. Lenders big and small have cut their fixed mortgage rates to 2.99 per cent and below, while variable mortgage borrowers will continue to enjoy low central and Prime rates for some time to come.
Fixed Mortgage Rates: Unchanged
The fixed-mortgage-rate battle wages on, as brokers and big banks alike wade in with discounted offers. Bond yields, which have trended lower during the spring months, show no sign of reversal, leading RateSupermarket.ca’s panelists to anticipate low rates to linger in the coming weeks.
Variable Mortgage Rates: Unchanged
Canada’s long-lagging inflation rate made news this month, reported to have finally hit the 2 per cent benchmark decreed by the Bank of Canada…
June Mortgage Rate Wars – Just Heating Up?
– ratesupermarket.ca
Lenders to continue competitive discounting tactics through summer months
June 4, 2014: Toronto, Ontario – There’s nothing lukewarm about lenders’ efforts to stay competitive in this spring’s mortgage market. Rate discounting battles have risen with the mercury, providing buyers with a slew of affordable options. Lenders big and small have cut their fixed mortgage rates to 2.99 per cent and below, while variable mortgage borrowers will continue to enjoy low central and Prime rates for some time to come.
Fixed Mortgage Rates: Unchanged
The fixed-mortgage-rate battle wages on, as brokers and big banks alike wade in with discounted offers. Bond yields, which have trended lower during the spring months, show no sign of reversal, leading RateSupermarket.ca’s panelists to anticipate low rates to linger in the coming weeks.
Variable Mortgage Rates: Unchanged
Canada’s long-lagging inflation rate made news this month, reported to have finally hit the 2 per cent benchmark decreed by the Bank of Canada…
Barclays, Goldman, Merrill Lynch fined $1M each by US regulators for incomplete trading data
– canadianbusiness.com
NEW YORK, N.Y. – The Financial Industry Regulatory Authority said Wednesday that it fined investment banks Barclays, Goldman Sachs and Merrill Lynch $1 million each for providing incomplete and inaccurate information about trades the companies conducted.
Finra said that the trading information is required to be submitted upon request but it said the data was missing, had incorrect customer names and contact information or inaccurate details about the transactions.
Regulators use the trading data, known as “blue sheets,” to investigate potential insider trading or other manipulations of the market.
The Wall Street regulator said that Barclays PLC, The Goldman Sachs Group Inc. and Merrill Lynch neither admitted nor denied the charges by settling the cases.
Barclays, Goldman Sachs and Merrill Lynch, which is a unit of Bank of America Corp., declined to comment.
Finra also issued a complaint against Wedbush Securities for the same reasons, but said that the case hasn’t been decided yet…
Finra said that the trading information is required to be submitted upon request but it said the data was missing, had incorrect customer names and contact information or inaccurate details about the transactions.
Regulators use the trading data, known as “blue sheets,” to investigate potential insider trading or other manipulations of the market.
The Wall Street regulator said that Barclays PLC, The Goldman Sachs Group Inc. and Merrill Lynch neither admitted nor denied the charges by settling the cases.
Barclays, Goldman Sachs and Merrill Lynch, which is a unit of Bank of America Corp., declined to comment.
Finra also issued a complaint against Wedbush Securities for the same reasons, but said that the case hasn’t been decided yet…
