The “Big Five” Canadian banks offer credit cards and 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). Did you know that there are many other options?
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European Central Bank chief says targeted asset purchases, loans to banks are possible
– canadianbusiness.com
SINTRA, Portugal – European Central Bank President Mario Draghi says the ECB could take targeted steps to get credit flowing to struggling small businesses as a way to boost the tepid economic recovery.
Draghi said Monday at a conference in Sintra, Portugal, that the inability to get credit was hurting viable companies in countries such as Spain and Portugal and holding back growth there.
He said the ECB could make more credit available to banks, so that they could lend it on. Or, the ECB could purchase securities based on loans to small companies, an indirect way of making money available.
He said that “could help reduce the drag on the recovery coming from temporary credit supply constraints.”
The ECB is widely expected to take some form of action at its next policy meeting on June 5, but Draghi would not specify what the bank was likely to do.
Many economists think the bank will cut its benchmark interest rate from what is already a record low of 0.25 per cent. That would marginally reduce the cost of credit when banks borrow from the ECB, in hopes they would pass such lower rates on…
Draghi said Monday at a conference in Sintra, Portugal, that the inability to get credit was hurting viable companies in countries such as Spain and Portugal and holding back growth there.
He said the ECB could make more credit available to banks, so that they could lend it on. Or, the ECB could purchase securities based on loans to small companies, an indirect way of making money available.
He said that “could help reduce the drag on the recovery coming from temporary credit supply constraints.”
The ECB is widely expected to take some form of action at its next policy meeting on June 5, but Draghi would not specify what the bank was likely to do.
Many economists think the bank will cut its benchmark interest rate from what is already a record low of 0.25 per cent. That would marginally reduce the cost of credit when banks borrow from the ECB, in hopes they would pass such lower rates on…
