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The best high-interest savings accounts in Canada for 2024 + MORE Aug 19th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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The best GIC rates in Canada for 2025 + MORE May 21st
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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UK stock market hit by nerves over US banks - BBC + MORE Oct 17th
UK stock market hit by nerves over US banks BBCGlobal bank stocks waver as investors fear credit risks in U.S. regional banks CBCStocks Rise as Trump Reassures on China, Regional Banks Report Bloomberg.comStock market today: Dow, S&P 500, Nasdaq futures sink as c.... More »
PayPal is going after the big banks Apr 14th
Online payment firm PayPal will soon offer basic banking options to its customers — a move that could be a nightmare for traditional banks..... More »
Business Highlights + MORE Jul 7th
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Greece gets until Sunday for proposals to stave off collapse
BRUSSELS (AP) — Frustrated and angered eurozone leaders gave Greek Prime Minister Alexis Tsipras a last-minute chance on Tuesday to finally come up with a viable proposal on how to save his country from financial ruin.
Overcoming the.... More »
Why Homeowners Should Care About Higher Fees for MBS
– ratesupermarket.ca
On December 1, 2014, the Canada Mortgage and Housing Corporation (CMHC) told the nation’s lenders that they would be raising the fees it charges for guaranteeing mortgage-backed securities (MBS). But you don’t own a bank, so why should you care? Well, it will likely mean higher borrowing costs for consumers. Here’s how and why.
What are Mortgage-Backed Securities?
To start with, let’s take a quick look at what MBS are. These are a collection of investments that are “backed” or secured by the value of the mortgages. Each MBS pools together hundreds or even thousands of mortgages. The banks use these pools, known as securities, to spread around their risk when lending. Much as it does for individual homeowners who have less than 20 per cent for their down payment, the CMHC also guarantees the mortgages financial institutions hold in MBS, for a fee.
Preventing Past Risks
If the phrase “mortgage-backed securities” sounds familiar, it’s probably for its guilty association with the Great Recession at the end of the last decade…
Why Homeowners Should Care About Higher Fees for MBS
– ratesupermarket.ca
On December 1, 2014, the Canada Mortgage and Housing Corporation (CMHC) told the nation’s lenders that they would be raising the fees it charges for guaranteeing mortgage-backed securities (MBS). But you don’t own a bank, so why should you care? Well, it will likely mean higher borrowing costs for consumers. Here’s how and why.
What are Mortgage-Backed Securities?
To start with, let’s take a quick look at what MBS are. These are a collection of investments that are “backed” or secured by the value of the mortgages. Each MBS pools together hundreds or even thousands of mortgages. The banks use these pools, known as securities, to spread around their risk when lending. Much as it does for individual homeowners who have less than 20 per cent for their down payment, the CMHC also guarantees the mortgages financial institutions hold in MBS, for a fee.
Preventing Past Risks
If the phrase “mortgage-backed securities” sounds familiar, it’s probably for its guilty association with the Great Recession at the end of the last decade…
Swiss central bank introduces negative interest rates to keep franc from gaining more strength
– canadianbusiness.com
BERN, Switzerland – Switzerland’s central bank has imposed negative interest rates on commercial bank deposits, with the aim of preventing the Swiss franc from gaining more strength against other currencies.
The move forces commercial banks to pay to deposit their francs with the Swiss National Bank.
In a statement Thursday, the central bank said it was introducing a rate of minus 0.25 per cent on sight deposit account balances of more than 10 million Swiss francs ($12.5 million).
It said the “introduction of negative interest rates makes it less attractive to hold Swiss franc investments, and thereby supports the minimum exchange rate.”
Since 2011, the SNB has set the minimum exchange rate of the euro at 1.20 Swiss francs, helping sharply raise the value of major currencies like the dollar against the franc.
The post Swiss central bank introduces negative interest rates to keep franc from gaining more strength appeared first on Canadian Business.
The move forces commercial banks to pay to deposit their francs with the Swiss National Bank.
In a statement Thursday, the central bank said it was introducing a rate of minus 0.25 per cent on sight deposit account balances of more than 10 million Swiss francs ($12.5 million).
It said the “introduction of negative interest rates makes it less attractive to hold Swiss franc investments, and thereby supports the minimum exchange rate.”
Since 2011, the SNB has set the minimum exchange rate of the euro at 1.20 Swiss francs, helping sharply raise the value of major currencies like the dollar against the franc.
The post Swiss central bank introduces negative interest rates to keep franc from gaining more strength appeared first on Canadian Business.
