Yellen reports small dip in assets in 2014 to a range between $4.9 million and $13.4 million + MORE Mar 4th

Household saving rate is the lowest since the first quarter of 2010. The current household saving rate, at 3.6 per cent, has ebbed from 5.9 per cent in early 2013

TORONTO – Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,133.85, down 130.20 points):
Bombardier Inc. (TSX:BBD.B). Aerospace and transportation. Down two cents, or 0.82 per cent, to $2.41 on 10.9 million shares.
Black Iron Inc. (TSX:BKI). Miner. Down 1.5 cents, or 33.33 per cent, to three cents on 7.3 million shares.
Ram Power Corp. (TSX:RPG). Utilities. Unchanged at half-a-cent on 5.7 million shares.
Legacy Oil + Gas Inc. (TSX:LEG). Oil and gas. Up four cents, or 2.04 per cent, to $2 on 4.03 million shares.
B2Gold Corp. (TSX:BTO). Miner. Unchanged at $2.07 on 3.9 million shares.
BlackBerry Ltd. (TSX:BB). Wireless communications. Down 18 cents, or 1.30 per cent, to $13.69 on 3.8 million shares. The company unveiled its latest smartphone at the Mobile World Congress wireless show in Barcelona, offering a look at the first of four new smartphones it plans to release this year. Chief executive John Chen said the BlackBerry Leap will cater to the “low-to-mid” range phone market, and will go on sale in Europe in April…

WASHINGTON – Fed Chair Janet Yellen may have gotten a job promotion last year, but her total assets don’t appear to have gotten a bump.
Yellen’s financial disclosure form for 2014, which was released Tuesday, showed a net worth of between $4.92 million and $13.37 million.
On the high end of the valuation, that represents a slight decline of about 5 per cent from 2013 when her assets were valued as high as $14.1 million.
On the government’s financial disclosure forms, officials are only required to put the value of their assets in broad ranges. So it is not clear what caused the small drop in her assets, many of which are held jointly with her husband, Nobel laureate economist George Akerlof.
Yellen in February of last year succeeded Ben Bernanke as head of the central bank.
According to her latest disclosure form, Yellen’s holdings did not change significantly from the previous year. Her largest asset is a Vanguard Index Trust investment fund valued at between $1 million and $5 million that she owns with her husband…

WASHINGTON – Federal Reserve Chair Janet Yellen says the Federal Reserve has worked hard to correct the mistakes exposed by the 2008 financial crisis.
She says the Fed cannot eliminate the possibility of a future banking crisis. But she says it can make them less likely and less damaging by limiting excessive risk taking and making sure that the nation’s biggest banks are better prepared to weather future problems.
She says before the crisis, the Fed focused too much on regulating individual firms and did not pay enough attention to ensuring the stability of the entire financial system.
She says the improvements the Fed has implemented include requiring banks to hold more capital to cushion against losses and testing them annually to see whether they can survive a severe economic downturn.
The post Yellen: Federal Reserve working to make future banking crises less likely and less damaging appeared first on Canadian Business.

THE COVER STORY
Canada is in the midst of the largest intergenerational wealth transfer in its history, with an estimated $1 trillion in family wealth being passed down from the so-called “Greatest Generation,” raised during the Depression and the Second World War, over the next couple of decades. But for many Boomer recipients of this massive mass inheritance, the money can’t come soon enough.
Half of homeowners in their 50s still have mortgage debt, and an equal share of Canadians expect to retire before they’ve paid off their homes.
Laden with credit card debt and car loans, Boomer children need cash to maintain their standard of living, say experts, and their desperation is starting to show.
Court files are replete with challenges to wills involving claimants nearing retirement age, while the sheer nastiness of family battles is on the rise.
Parent against child, sibling against sibling, Maclean’s takes readers inside the inheritance wars.
COMING SOON
Our new issue — on digital newsstands Wednesday, in real-life Thursday and beyond…