Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
How to Use Your Credit Card Rewards to Give Dad a Fantastic Father’s Day + MORE Jun 15th
Father’s Day is just around the corner on Sunday, June 21, 2020, to be exact. If it slipped your mind, don’t worry, you still have time to grab a gift and plan something special. Whether you are preparing to host a virtual brunch or a socially distanced backyard barbeque, you can celebrate dad .... More »
Best FHSAs in Canada: What to know about the new first home savings account Mar 29th
First home savings account (FHSA) highlights
The FHSA is a type of registered account that allows you to contribute up to $8,000 annually, up to a lifetime limit of $40,000, to save for the purchase of your first home.FHSAs are scheduled to become available as early as April 1, 2023. However, availa.... More »
Should You Add an Authorized User to Your Credit Card? Mar 20th
Most credit card companies allow their cardholders to add an authorized user to their account – but why would you want to? There are various benefits; for example, you can kickstart your child’s credit history or provide a helping hand to a friend in a financial crisis. While these benefits.... More »
The Best Rewards Credit Cards of 2019 Nov 1st
Whether it’s rebating you in points, a statement credit, or cash-back in your bank account, a good rewards card maximizes on your everyday purchases and ultimately helps you save.
To determine which card will provide you with the most in savings, you must first evaluate your spending patterns to .... More »
Canada’s best travel credit cards 2022 Oct 15th
A good travel credit card can make your trip more affordable, more comfortable and even more secure. There are numerous cards to choose from, but you can get the best value by selecting one that pairs a strong earn rate for rewards or cash back along with perks like lounge access, travel credits or .... More »
Scotiabank CEO downplays concerns raised over Canadian debt levels
– canadianbusiness.com
TORONTO _ Scotiabank’s chief executive says he disagrees with recent red flags raised over Canada’s high debt levels by an international body, and that he is “comfortable” with the lender’s risk profile.
Brian Porter told a University of Toronto conference that he had a “different perspective” from the International Monetary Fund’s recent warning and said they should look at the “other side of the balance sheet” which has “kept pace or outgrown the size of the debt.”
“I am very comfortable with our risk profile,” he said Wednesday.
His comments come after the IMF in October said that Canada’s high debt levels, and higher-than-average pressure on Canadian households’ ability to pay down that debt in the private non-financial sector, leaves its economy more sensitive to tighter financial conditions and weaker economic activity.
And last month, an international financial group owned by the world’s central banks said Canada’s credit-to-gross-domestic-product and debt-service ratios show early warning signs of potential risk to the domestic banking system in the coming years…
Brian Porter told a University of Toronto conference that he had a “different perspective” from the International Monetary Fund’s recent warning and said they should look at the “other side of the balance sheet” which has “kept pace or outgrown the size of the debt.”
“I am very comfortable with our risk profile,” he said Wednesday.
His comments come after the IMF in October said that Canada’s high debt levels, and higher-than-average pressure on Canadian households’ ability to pay down that debt in the private non-financial sector, leaves its economy more sensitive to tighter financial conditions and weaker economic activity.
And last month, an international financial group owned by the world’s central banks said Canada’s credit-to-gross-domestic-product and debt-service ratios show early warning signs of potential risk to the domestic banking system in the coming years…