Foreign assets held by Canadian banks overview document  

fsim.ca/docs/Foreign assets held by Canadian banks overview document.pdf

Mark Sibthorpe

Canadian banks, apart from the Big 5, have generally avoided foreign diversification. All of the Big 5 have a significant foreign presence, however, RBC’s massive diversifactation ($1.86T foreign assets, 37% revenue) eclipses its rivals. Whereas, National Bank has also proven highly competitive, despite its domestic focus.

Methodology

This document looks at 4 categories of Canadian banks via charts. The charts are derived from OSFI data which provides details with respect to foreign operations held by Canada’s domestic banks. I have categorized them as Small/Medium, Mid-Tier, Large and Big 5.

Part 2: The Merchant Loyalty Industrial Complex Collapse  

fsim.ca/docs/Credit_cards_Part_2v4.pdf

Mark Sibthorpe

Since November 2, 2021, Loyalty Ventures Inc.'s (Airmiles) market cap has decreased from $861.42M to $2.11M, a decrease of -99.75%. This compares closely to 2018, when Aimia sold Aeroplan back to Air Canada and partners TD and CIBC for $238 million. For reference, in 2005 Aeroplan launched an IPO valuing it at $2 billion. Related to Aimia’s downfall, it had also previously sold the UK Nectar program to Sainsburys for $120 million, $580 million lower than it paid for Nectar in 2007.

This report digs under the surface and uncovers why loyalty is going the way of the dodo.

Merchants should not waste time fighting card networks  

fsim.ca/docs/Card_fees_ongoing.pdf

Mark Sibthorpe

This is part one of a two part assessment of merchant frustration due to high credit card fees. The second part of this report will outline an alternative approach that merchants can consider. An approach that is a win for them and also for the card networks.

The full story of SVB March 12th, 2023  

fsim.ca/docs/SVB_special_report2.pdf

Mark Sibthorpe

Aggregated news and research related to SVB. Apart from SVB, included in this report is related news with respect to other banks and non-traditional companies looking to add financial services that also appear risky.

March 2023 bank earnings summary  

fsim.ca/docs/bankearningsfriday.pdf

Mark Sibthorpe

This report provides a snapshot into recent bank earnings and related news as published in fsim.ca reports.

Real estate report: October 30th, 2020  

fsim.ca/docs/Oct30rereportv1.pdf

Mark Sibthorpe

The big buzz in real estate recently is Mark Carney being scooped up by Brookfield. This means more juice for riskier borrowers. Brookfield, a huge player in real estate, both residential and commercial, recently bought its remaining shares from Sagen (Genworth MI Canada), which values the company at $3.8 bn.

VersaBank’s New High-Security VPN Proving Especially Valuable During COVID-19 Pandemic  

fsim.ca/docs/TailscaleReleaseMarch30FINAL.pdf

Press Release

2014 FSIM when Bernanke visited Montreal  

fsim.ca/docs/MockBernanke.pdf

Mark Sibthorpe

Considering Bernanke is hated by the Republicans and hated even more by the Democrats, and is currently under scrutiny for saving AIG but not Lehman, (in hindsight) with respect to issues over solvency vs liquidity, the Montreal lovefest attended by 1,100 people yesterday must have been a welcome respite. Click the link to read the entire 2014 report.

Eisman's big Canadian bank short  

fsim.ca/docs/eisman2.pdf

Mark Sibthorpe

I have been reporting on Steve Eisman's short position for quite some time.  As the analyst reaction to Eisman shows (link below), Eisman has taken a lot of heat for shorting Canadian banks. Instead of capitulating, in September 2019 he publicly disclosed the fact that he added Canadian Tire to his position, He explains the rationale for this in a BNN interview late 2019. Essentially, his big concern with respect to banks was non-performing loans in Alberta. He feels Canadian bank CEOs are not prepared for a credit cycle. He specifically referenced ATB (a private bank) in discussing his concerns. Looking at the numbers today, my guess is that he has made off like a bandit.

VersaBank Beta-Testing Its New, High Volume Mortgage Finance App   

fsim.ca/docs/VBCortelMortFinanceAppFeb62020.pdf

Press Release

VersaBank announces it is initiating beta-testing on its newly developed high-volume mortgage software app with the Cortel Group, one of Canada’s largest home and condominium builders. The app, named “Direct Connect”, was designed to facilitate and significantly reduce the lengthy finance approval process typically experienced by home buyers when visiting home and condo pre-construction sales offices.

How and why you need to defend your brand against disruptors  

Mark Sibthorpe

Technology, and being open to opportunities, has preempted transformation in banking. At the top of change are Mint, PayPal and ApplePay; three examples of transformative solutions that are now ubiquitous. On the horizon: Uber and Google, both having recently announced partner based banking services. Further down in the plumbing is Duca Impact Labs, Versabank, and Revolut. This report shows how cost conscious FIs can, not only stay relevant in the face of adversity, but punch well above their weight. All thanks to creative thinking and the ongoing commoditization of technology.

Kick the can(nomics)  

fsim.ca/docs/Kick.pdf

Mark Sibthorpe

Canada has used consumer debt to provide life support to the economy. This strategy which basically pushed the day of reckoning to the next government was old back in 2014, and now is well past its sell-by-date. Recognizing this, and desperate to keep the economy out of a recession, Trudeau is spending more money now than any government in Canadian history. This report disusses a possible alternative.

ScoreCard Bill Morneau, Canada's Minister of Finance  

fsim.ca/docs/ScoreCardMorneau.pdf

Mark Sibthorpe

This report is a scorecard I designed in order to rank the performance of the current Minister of Finance, Bill Morneau. I do regular rankings because, otherwise, I cannot measure the performance in a meaningful way. The scoring is based on a variety of metrics as detailed on the ‘score-table’ on page 3. Examples of the criteria and weighting include:

Observations and overview of 2018 NB flood support from government and insurance companies.  

fsim.ca/docs/Observations and overview of 2018 NB flood support from government and insurance companies..pdf

Mark Sibthorpe

Flood aftermath is linked to post traumatic stress. Here are some findings from a study conducted by Queensland University following a flood:

"The findings showed that aftermath stress contributed to poor mental health outcomes over and above the flood itself, prior mental health issues and demographic factors," Ms Dixon said.

"Aftermath stress was the strongest predictor of post-traumatic stress symptoms with 75 per cent of people saying the most difficult aspect was the aftermath and dealing with insurance companies," she said.

With this in mind, I felt it was important to understand how New Brunswick flood victims were treated.

Update Argentina: a sign of the times  

fsim.ca/docs/Update Argentina_ a sign of the times.pdf

Mark Sibthorpe

Argentina is in the news daily because the situation is dire, and may be an indication of further contagion. The most dramatic story that speaks of the a leading cause of its troubles was the recent arrest of the public works secretary, Jose Lopez. June 15th he was caught hiding millions in cash in a monastery. No this is not a plot for a comedy.

Summary of Canada's flood news, 2017 to present  

fsim.ca/docs/Summary-of-flood-news-2017-present.pdf

Mark Sibthorpe

This report covers flood news in Canada from 2017 to present and highlights the relevent issues for home-owners and the insurance industry.

Banking on Pot  

fsim.ca/docs/c10191_banking-on-pot.pdf

SBS

As states across the US legalize marijuana for both medicinal and recreational purposes, it has fueled a growing industry of marijuana related businesses (MRBs).

Canadian banking industry overview  

Mark Sibthorpe

The industry overview is divided into 5 parts:

Introduction
Small banks
Small medium sized banks
Medium sized banks
Medium large banks

2014 Mobile payments the Apple pay way  

fsim.ca/docs/Mobile_Payments_Apple_Pay_2014.pdf

Mark Sibthorpe

With Walmart Pay about to userp Apple Pay, I thought I would share my 2014 book on mobile payments and loyalty. The guilde was written for Merchants that want to understand loyalty, credit, mobile payments and Apple Pay, but anyone involved with credit and loyalty might find it useful.
The book is a prelude to Walmart leaving MCX, and chronicles the evolution that led to Walmart Pay. There is an extensive case study of Walmart that looks into its efforts to become an ILC and to avoid paying credit card transaction fees ('merchant discount').
It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and industry facts. The Nectar, Target, Canadian Tire and Walmart case studies are examples of the practical approach I have taken, written with the intent that merchants can use them as blueprints for their own initiatives. 

Death to bitcoin, long live the blockchain   (See full report)

Mark Sibthorpe

Jamie Dimon calls bitcoin a fraud used by criminals, yet he has jumped into the blockchain with both feet.

TD bank industry conduct  

fsim.ca/docs/tdind2.pdf

Mark Sibthorpe

TD’s share price recently collapsed by $7 bn in one day due to CBC’s allegations of aggressive selling tactics. A huge fall from a bank that was trading at a premium as recently as January. This was even before the most recent allegation of TD attempting to avoid paying taxes on advertising.
This report chronicles the events leading up to the collapse, shows TD's performance, analyses other related issues.

Book review: Back from the Brink  

fsim.ca/docs/backbrink.pdf

Mark Sibthorpe

This is a book review of the book Back from the Brink by Paul Halpern, Caroline Cakebread, Christopher C. Nicholls and Poonam Puri.

Footnote 151  

fsim.ca/docs/footnote151.pdf

Mark Sibthorpe

Footnote 151 implies an important regulatory change related to derivative contracts. It means that US Banks will not be required to hold as much capital against commodities. If you want to understand the implications of this regulatory change in more detail, see the enclosed related article detailing the changes. For contextual purposes, I have also included two Rolling Stones Magazines reports from 2010 and 2014 that chronicle the role large US banks have played in manipulating commodities. You might question the credibility of these sources, but rest assured, these reports are based on United States Senate hearings which outline the issues in a 396 page report related to the implied risks. 

Save the Canadian economy now  

fsim.ca/docs/helecopter-money.pdf

Mark Sibthorpe

Consumer debt spending appears to have insulated Canada from the worst of the credit crisis, but now the alarming magnitude of consumer debt ($1.92-trillion) could exacerbate a day of reckoning.
This report assesses the issues at hand and recommends the solution to get Canada's economy on track.

Reasons financial service companies should consider gamification  

fsim.ca/docs/GamingEventProposal-printsample--en-final.pdf

Mark Sibthorpe

Gamification of business processes resulted on Mint.com growing to 10 million users within 4 years. This report explains how.

National Bank Special Report  

fsim.ca/docs/NatBSpec.pdf

Mark Sibthorpe

According to Bloomberg, National Bank of Canada will take a C$64 million ($48 million) restructuring charge in the fourth quarter and said its investment in Maple Financial Group Inc., which is being probed by German regulators, may be at risk of a “substantial loss.”

Will Canadian banks charge companies for deposits?  

fsim.ca/docs/depgrowthimpact2.pdf

Mark Sibthorpe

In light of today’s possible rate cut, this report discusses how a bank rate cut and capital ratio pressure could precipitate negative corporate deposit interest rates in Canada.

Canadian Tire's (CTC) - Canadian Tire Financial Services (CTFS) Scotia deal overview and risk assess  

fsim.ca/docs/ctfsfinal.pdf

Mark Sibthorpe

Review of the Canadian Tire Financial Services deal with Scotiabank, risks, opportunity and benefits.

Finance minisiter scorecard August 26, 2015  

fsim.ca/docs/Scorejo-August-2015.pdf

Mark Sibthorpe

This report looks at Joe Oliver, minister of finance’s progress to date, and assigns a grade to his government’s performance to date.

Xtreme Branch  

fsim.ca/docs/xbranch.pdf

Mark Sibthorpe

Branches are evolving to meet the digital age. This documents tracks the evolution with real-world examples.

Canadian Nudge  

fsim.ca/docs/nudge.pdf

Mark Sibthorpe

CWB cause for concern  

fsim.ca/docs/cwbupdate.pdf

Mark Sibthorpe

BNTV Overview  

fsim.ca/docs/overviewpdf.pdf

BNTV

BankNews.TV Publishing Corp services overview document:

• Analytics
• Financial services industry monitor (FSIM) industry briefings and developments reports
• Research

Challenger banks not a threat to big banks  

fsim.ca/docs/challenger.pdf

Mark Sibthorpe

This report looks at Canadian challenger banks (apart from merchant led banks) and explains why they have not threatened larger institutions. It also looks at ways in which these upstarts have achieved success.

Gamification of financial data project  

fsim.ca/docs/GamingEventProposal-printsample--en-final_original.pdf

Mark Sibthorpe

This document contains details on how BankNews.TV is helping kids learn programming via gamification of financial data.

The impact a rate rise will have for Canadian banks  

fsim.ca/docs/irr-f.pdf

Mark Sibthorpe

Canadian banks have made money throughout the credit crisis, but this trend may be about to reverse. The rational supporting this prediction is that revenue has grown despite a declining net interest margin (NIM). It has grown in spite of this fact because Canadian debt (loan lease volume) has risen significantly, as shown in chart 2.

FIFA: the new goldenballs  

fsim.ca/docs/goldenballs.pdf

Mark Sibthorpe

Yesterday, the Attorney General of Switzerland (OAG) opened criminal proceedings related to the FIFA scandal. This report outlines some of the events related to the criminal investigation, with a particular focus on banking.

Scorecard Minister of Finance: JIm Flaherty  

fsim.ca/docs/Scorecard Min Fin Flaherty April 8 2014.pdf

Mark Sibthorpe

March 18, Finance Minister Jim Flaherty resigned from cabinet after having endured a difficult year due to health issues. This report looks at his legacy and attempts to grade his government’s performance to date.

Sample RFP for a Loyalty Program  

fsim.ca/docs/sample RFP for a loyalty program.pdf

Mark Sibthorpe

Merchants extend financial services  

fsim.ca/docs/merchantfs.pdf

Mark Sibthorpe

Merchant led financial services are growing in importance once again. This is exemplified in the ongoing UK rivalry between ASDA, Sainsbury and Tesco. Together these merchant/financial service companies provide the backstop for three different approaches for merchants looking to extend their financial services.

Hot Money: real-estate  

fsim.ca/docs/hotmoney.pdf

Mark Sibthorpe

Currency Cheat Sheet: a guide for the rest of us  

fsim.ca/docs/currencycheatsheet.pdf

Mark Sibthorpe

Riches to Rags? Summary of possible risks for Genworth MI CANADA, INC.  

fsim.ca/docs/gq4risk.pdf

Mark Sibthorpe

Genworth had its Q4 2014 earnings call. Genworth own about 30% of the mortgage default insurance in Canada. Not surprisingly, the earnings call became focussed on Alberta; and for good reason, with 20% of its outstanding insured mortgage balance in Alberta, sensitivity to the oil shock and how Genworth plan to manage related risks were discussed in detail.

Canadian Western Bank Competitive Forecast  

fsim.ca/docs/cwbf.pdf

Mark Sibthorpe

Based on historical financial data (see detailed charts pages 5-8), the oil based recession in Alberta, and comparison against two of its peers, this document outlines my observation with respect to CWB’s future performances.

Liquid Canada: the tipping point  

fsim.ca/docs/Liquid.pdf

Mark Sibthorpe

This report examines liquidity issues in the Canadian financial service industry.

Bank Fees  

fsim.ca/docs/Bank fees.pdf

Mark Sibthorpe

Recently the CBC and The Globe and Mail both reported on what has been referred to as a consumer “bank fee outcry”. CBC compares banks to cable and phone companies, standing accused of trying to gouge customers with service fees. The backlash appears to have originated in conjunction with the NDP and the Consumers Council of Canada which argues that there is anxiety ‘among consumers about banking fees’.

Cheap Oil Report  

fsim.ca/docs/co2.pdf

Canada's Economy, a strategic solution  

fsim.ca/docs/ces.pdf

Mobile Payments Blueprint: guide to credit and loyalty transformation for merchants  

fsim.ca/docs/booksample.pdf

Guide to system selection  

fsim.ca/docs/gssnow.pdf

Read sample report: Guide to system selection. This sample would normally cost $99 but is available free as a sample. Click here view sample report.

SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED

G&M (2026-01-28)

“We are deeply sorry for the inconvenience the earlier technical issue has had on our clients, and sincerely appreciate their patience as we worked through this,” Ms.

STARTING A BANK IN CANADA OFTEN TAKES SEVERAL YEARS. THAT COULD SOON CHANGE

G&M - Stephanie Morotta (2025-12-18)

At a recent meeting of the Senate’s banking, commerce and economy committee, Canada’s top banking regulator, Peter Routledge, said his office is smoothing the path to starting a bank – an arduous and lengthy process that is often criticized for being too restrictive for new entrants to join the federally

BITCOIN’S SILENT EXODUS HITS CRYPTO AS LONG-TIME BUYERS CASH OUT

Yahoo Finance (2025-12-18)

New blockchain data shows that coins held for years are being divested at some of the fastest rates in recent memory, just as the market’s ability to absorb them is fading.

CANADA REPORTS BIGGEST POPULATION DECLINE ON RECORD

G&M - Vanmala Subramaniam (2025-12-17)

Canada’s population fell by roughly 76,000 over the third quarter, the largest decline this country has seen in records dating to the 1940s, and a result of major policy changes by Ottawa to curb immigration. Outside

FORD PROMOTES TORONTO AS OTTAWA, B.C. AND MONTREAL MAKE PITCHES TO HOST DEFENCE BANK

Yahoo Finance (2025-12-17)

This fall, representatives from 37 countries, including G7 and NATO members, met in London to discuss the initiative, the development group behind the bank said in a press release.

FOUNDER OF BANKRUPT SUBPRIME AUTO LENDER TRICOLOR HOLDINGS IS CHARGED WITH FRAUD

Yahoo Finance (2025-12-17)

The founder of Tricolor Holdings led other top executives of the subprime auto lender on a seven-year campaign to defraud its largest lenders out of nearly a billion dollars, authorities said Wednesday, as they announced two arrests and guilty pleas by two former executives.

FINANCIAL STOCKS PULL S&P/TSX COMPOSITE LOWER, U.S. MARKETS WEIGHED DOWN BY BIG TECH

Yahoo Finance (2025-12-17)

“One is still the AI story and concerns about … the spending, the valuations, and the potential benefits coming out of that,” he said.

BITCOIN’S SILENT EXODUS HITS CRYPTO AS LONG-TIME BUYERS CASH OUT

Yahoo Finance - David Pan (2025-12-17)

More than two months after the token hit a record high above $126,000, Bitcoin has fallen nearly 30% and is struggling to find support.

THE OLIGARCH PART 1: HOW ONE POWERFUL MAN MADE ZELENSKY PRESIDENT, UKRAINE HIS POCKET STATE, AND SENT IT TO WAR

RT.com (2025-12-17)

Igor Kolomoysky is the man who orchestrated one of the largest and most elaborate embezzlement schemes in modern history that cost the Ukrainian state 6% of GDP to remedy.

HIGH-PROFILE BMO EXECUTIVE SET TO RETIRE

CMP (2025-12-17)

Steve Thom, one of Bank of Montreal’s most senior markets executives, is set to retire as head of global credit trading, according to people familiar with the matter.

2026 COMMERCIAL MORTGAGE MARKET: IS A REBOUND ON THE WAY?

CMP - Fergal McAliden (2025-12-17)

demand for office space – particularly in Toronto – suggests that the deep freeze that gripped the office market during the COVID-19 pandemic is gradually thawing, according to Keith Reading (pictured top), senior director, research at Morguard.

WALL STREET BANKS PREPARE FOR ROUND-THE-CLOCK STOCK TRADING, RELUCTANTLY

G&M - Anirban Sen (2025-12-16)

Round-the-clock trading is fast approaching U.S.

WHY CANADA IS NO COUNTRY FOR SMALL BANKS

G&M - JOHN TURLEY-EWART (2025-12-16)

John Turley-Ewart is a contributing columnist for The Globe and Mail, a regulatory compliance consultant and a Canadian banking historian. Canada

US OVERDRAFT FEES JUMP AT BIG BANKS AMID REGULATORY, ECONOMIC SHIFTS

Yahoo Finance - Douglas Gillison (2025-12-16)

The increase in fee income coincides with congressional Republicans' move in May to scrap a Biden-era Consumer Financial Protection Bureau regulation that would have curtailed overdraft fees, which the CFPB estimated would have saved depositors $5 billion a year.

GEN X IS SCRAMBLING TO CLOSE THE SAVINGS GAP AS THEY NEAR RETIREMENT

Yahoo Finance (2025-12-16)

More than 8 in 10 are worried that they will not have enough money for a comfortable retirement, according to the Schroders 2025 US Retirement Survey, which provided an exclusive first look at the report to Yahoo Finance.

MACKLEM EMPHASIZES NEED FOR ‘GOOD’ MONEY AS BOC SET TO REGULATE STABLECOINS

G&M - Mark Rendell (2025-12-16)

The Bank of Canada is emphasizing the need for stable and secure money as private digital currencies, known as stablecoins, have begun to proliferate and raise questions about the future of the global money system. Governor

AIMCO NAMES RAY GILMOUR AS PERMANENT CEO

G&M - James Bradshaw (2025-12-16)

Alberta Investment Management Corp.

'BUY CANADIAN' POLICY TAKES EFFECT, CHANGING RULES FOR FEDERAL PROCUREMENT

Yahoo Finance (2025-12-16)

The first stage of the policy, which came into effect Tuesday, requires that contracts valued at $25 million or more prioritize Canadian businesses and materials.

OIL FALLS BELOW $55 ON SIGNS OF SURPLUS AND UKRAINE PEACE TALKS

Yahoo Finance (2025-12-16)

US crude futures pared some losses, settling down 2.7%

CENTRAL BANK BODY BIS RAISES CONCERNS OF GOLD AND STOCKS DOUBLE BUBBLE

BNN (2025-12-16)

The BIS’ analysis concluded that this year has been the first time gold and the S&P 500 have jointly exhibited “explosive behavior” in the last 50 years.

DATA COLLECTION MODERNIZATION INITIATIVE: GET READY FOR IMPLEMENTATION

OSFI (2025-12-16)

Together these efforts will help better manage regulatory reporting workload over time.

CANADA’S WORKER SHORTAGE IS NOW A SURPLUS: JOB VACANCIES HIT 7 YEAR LOW

Better Dwelling (2025-12-16)

Canadian job vacancies pulled back sharply in the past quarter—a trend that’s gaining steam.

SHADOW BANKS OUTRUNNING BANKS’ GROWTH: FSB

Investment Executive - James Langton (2025-12-16)

In a new report, the FSB said that non-bank financial institutions (including investment funds, hedge funds and pension funds) grew by 9.4%

CHINA PROPERTY STOCKS STILL CAN’T FIND A FLOOR

FT (2025-12-16)

Have Chinese real estate stocks become a bargain? It is a question that comes up every time the sector starts staging a rebound.

DEALS: SCOTIABANK WRAPS SALE TO DAVIVIENDA, TAKES 20% STAKE

Investment Executive - Roland Inacay (2025-12-15)

Scotiabank now has a 20% stake in the Colombia-based institution.

TRUSTEED PENSION FUNDS NEAR $2.2T IN NET ASSETS

Investment Executive (2025-12-15)

Of that, $975 million was held equities, $638 million in bonds and the rest were in infrastructure, among other investment categories.

OLD MEETS NEW ECONOMY: AI BOOM TO SUPERCHARGE EUROPEAN BANKS' RALLY

Reuters - Joice Alves (2025-12-15)

Yet investors have snapped up bank stocks in earnest.

JPMORGAN'S DIMON SIGNALS SUPPORT FOR KEVIN WARSH AS FED CHAIR, FT REPORTS

Reuters (2025-12-15)

JPMorgan (JPM.N),

EXPLAINER: WHAT ARE THE LEGAL RISKS OF EU'S 'REPARATIONS LOAN' FOR UKRAINE?

Reuters (2025-12-15)

The loan aims to raise 90 billion euros ($105 billion) in 2026 and 2027 to help Ukraine defend itself against Russia.

THE FED DID BANKS A SOLID THIS WEEK. MORE FAVORS MAY BE NEEDED

WSJ - Telis Demos (2025-12-15)

For banks and other players in the U.S.

BANK OF AMERICA SHARES FINALLY RECOVER FROM 2008 FINANCIAL CRISIS

WSJ (2025-12-15)

Bank of America BAC 1.06%increase;

WALL STREET IS HAVING ONE OF ITS BEST YEARS EVER

WSJ - Alexander Saeedy (2025-12-15)

Executives from the biggest banks in the country said this week that they were on track to end a bumper year for Wall Street operations on a high. Leaders

THE BEST TRAVEL INSURANCE COMPANIES FOR 2025: EXPERT-RATED

Forbes - Michelle Megna (2025-12-15)

To identify the best travel insurance, we evaluated 69 policies from 23 companies.

CRYPTO FRAUDSTER SENTENCED FOR 'EPIC' $40BN STABLECOIN CRASH

BBC - Peter Hoskins (2025-12-15)

US District Judge Paul A Engelmayer, who handed down the sentence, said the Stanford graduate had repeatedly lied to investors who trusted him with their money.

CANADIANS UNDER 35 ARE DEBT-STRESSED — AND BUY NOW, PAY LATER UBIQUITY ISN'T HELPING

CBC - Jena Benchetrit (2025-12-15)

The Credit Counselling Society — the debt management non-profit where Kalinowski works — served more 18-to-34-year-olds in 2025 than at any other point in its history, its spokesperson told CBC News.

WHAT'S NEXT FOR INTEREST RATES AFTER BANK OF CANADA HOLDS FIRE? FP VIDEO

FP (2025-12-15)

This week FP Video looks at the Bank of Canada’s interest rate decision this past week, economic forecasts for next year and hears from experts as they weigh in on the energy-export expanding Memorandum of Understanding between Alberta and Ottawa.

WHY INTEREST RATES ARE DOWN, BUT YOUR MORTGAGE ISN’T

G&M - John Rapley (2025-12-15)

Since the summer of 2024, the Bank of Canada has reduced its benchmark interest rate by nearly three percentage points.

A ‘NEW ERA’ IN THE HOUSING MARKET IS ABOUT TO BEGIN AS AFFORDABILITY FINALLY IMPROVES ‘FOR THE FIRST TIME IN A BUNCH OF YEARS,’ ECONOMIST SAYS

Yahoo Finance (2025-12-15)

Home sales flatlined amid unaffordable conditions after rising demand collided with tepid supply growth, pushing up home prices.

'I THINK THE ECONOMIC NUMBERS IN THE U.S. ARE GOING TO START TO DECELERATE': THORNE

BNN (2025-12-15)

James Thorne, chief market strategist at Wellington-Altus Private Wealth, joins BNN Bloomberg to provide a 2025 market roundup and discuss what investor should watch for in 2026.

FOREIGN ASSETS HELD BY CANADIAN BANKS OVERVIEW DOCUMENT

fsim.ca - Mark Sibthorpe (2025-12-15)

The purpose is to provide a snapshot on foreign diversification and to demonstrate how banks have benefited from diversification.

CANADIAN QUARTERLY ECONOMIC FORECAST

TD (2025-12-15)

As the world turns the page on 2025, key global growth players are on track to meet or exceed our forecasts from earlier this year, despite the disruption from U.S.

CANADIAN HOUSEHOLD BALANCE SHEET (2025 Q3)

TD (2025-12-15)

Financial asset growth accelerated, rising by 4.8%

NOVEMBER HOME SALES, PRICES DOWN AS BUYERS REMAIN ON SIDELINES

G&M - Andrew Willis (2025-12-15)

Canada’s residential real estate market slumped in November, with sales declining and home prices falling as sellers offered discounts to move properties. The

BITCOIN BREACHES $86,000 WHILE SINKING TOWARD YEAR’S LOWS

Bloomberg - David Pan (2025-12-15)

Bitcoin dropped below $86,000 for the first time in two weeks with investor sentiment weakening as the largest cryptocurrency slips deeper into bear market territory. The

CANADIAN REAL ESTATE PRICES ACCELERATE DECLINES INTO WINTER

Better Dwelling (2025-12-15)

The benchmark price dropped 0.9%

REALTORS OWED COMMISSION PAYMENTS AFTER IPRO COLLAPSE COULD SEE HALF THIS WEEK, REGULATOR SAYS

G&M - Shane Dingman, Rachelle Younglai (2025-12-15)

Realtors owed commission payments delayed for months by the collapse of iPro Realty Ltd.

FORD DUMPS LIGHTNING

WSJ - Sharon Terlep (2025-12-15)

Ford Motor F -0.80%decrease;

PAYPAL APPLIES TO ESTABLISH BANK

WSJ - Katherine Hamilton (2025-12-15)

PayPal PYPL -1.49%decrease;

CANADIAN INVESTORS LEAN ON THE BIG SIX BANKS MORE THAN IS GOOD FOR THEM, THIS ADVISER SAYS

Yahoo Finance - Gigi Suhanic (2025-12-14)

Canada’s big banks have posted a strong year on the stock market so far this year, but investors need to look across the Atlantic to find the real stars of the financial sector, says one adviser.

TRUMP'S FED PICK COMES INTO FOCUS, ECONOMIC DATA BACKLOG CLEARS: WHAT TO WATCH THIS WEEK

Yahoo Finance (2025-12-14)

A Friday afternoon report from the Wall Street Journal put Kevin Warsh, a former member of the Fed's board of Governors, back in play.

CREDIT OUTLOOK NEUTRAL FOR NORTH AMERICAN CORPORATES

Investment Executive - James Langton (2025-12-14)

In a new report, the rating agency said that its current outlook for corporate credit in the year ahead is “neutral” for North America, despite the heightened uncertainty around trade policy and geopolitics.

THE GLOBE’S BIG GUIDE TO CANADIAN CREDIT CARDS

G&M - Mariya Postelnyak (2025-12-12)

Free flights to Japan, thousands of dollars in points for groceries and coffee, money toward a new iPhone and no foreign-transaction fees.

DEUTSCHE BANK, GOLDMAN SEE FED CUTS REKINDLING DOLLAR’S SLIDE

Yahoo Finance (2025-12-12)

The dollar’s decline is expected to be more muted and not as broad as it was this year, when it lost ground against all of the major currencies, leaving the the Bloomberg Dollar Spot Index down nearly 8% in its deepest annual drop since 2017.

CHINA'S SMALL BANK MERGERS SHRINK SECTOR BUT RAISE FINANCIAL RISKS

Yahoo Finance (2025-12-12)

The consolidation mainly targets a sprawling network of ‌more than 3,600 rural banks and credit cooperatives that account for about 14% of the country's $58 trillion banking sector, according to official data.

UBS HITS 17-YEAR HIGH AS LAWMAKERS FLOAT CAPITAL COMPROMISE

Bloomberg (2025-12-12)

A group of influential Swiss lawmakers proposed watering down the capital demands that the country wants to impose on UBS Group AG, sending shares to a 17-year high. The

CANADIAN HOUSEHOLD DEBT NOW MIRRORS US BEFORE THE 2008 CRASH

Better Dwelling (2025-12-12)

Canadian DTI jumped 1.6

CANADIAN HOUSEHOLD NET WORTH UP $461 BILLION IN Q3

Investment Executive (2025-12-12)

Households’ financial assets jumped 4.8%

FINANCIAL SERVICES ROUNDUP: MARKET TALK

WSJ (2025-12-12)

Visa shares are up 5% to $341.30,

VERSABANK FOURTH QUARTER RESULTS

VersaBank (2025-12-11)

"The rapidly accelerating ramp up of our Receivable Purchase Program ("RPP") in the US, alongside steady growth of our RPP in Canada, resulted in a very healthy year-over-year increase in credit assets of 20% to a new record, which, combined with a steady expansion of our net interest margin, drove

BANK OF CANADA HOLDS BENCHMARK RATE AT 2.25% AS FINANCIAL MARKETS SEE EXTENDED PAUSE

G&M - Mark Rendell (2025-12-11)

The Bank of Canada held its benchmark interest rate steady on Wednesday, moving back to the sidelines for what financial markets expect to be an extended pause. As

BMO NAMES CAROLINE DUFAUX AS U.S. DIVISION CFO

G&M (2025-12-11)

Bank of Montreal BMO-T has tapped Caroline Dufaux as chief financial officer of its U.S.

WHY WE’RE NOT COUNTING ON A BETTER OFFER FOR LAURENTIAN BANK

G&M - Caellum Gallander (2025-12-11)

The $40.50

BITCOIN DIPS BELOW $90,000 AFTER FED CUT WIDENS STOCKS SPLIT

Yahoo Finance (2025-12-11)

Bitcoin is in a weakened position after enduring a weeks-long selloff that began in early October with a major liquidation event, which wiped out about $19 billion in levered bets.

‘SILENT DISSENTS’ REVEAL GROWING FED RESISTANCE TO POWELL’S CUTS

Bloomberg (2025-12-11)

Federal Reserve Chair Jerome Powell downplayed dissenting votes against Wednesday’s decision to lower interest rates again, but a slew of finer details from the meeting revealed just how divided the central bank has become. Powell

BANK OF CANADA CONFIRMS RATE FLOOR, AND IT’S BAD NEWS FOR REAL ESTATE

Better Dwelling (2025-12-11)

The most disturbing part of the BoC’s announcement was Governor Macklem dropping the term “structural adjustment.”

CRYPTO HYPE A GROWING RISK FOR BANKS: FITCH

Investment Executive (2025-12-11)

Indeed, the rating agency sees growing risks associated with banks increased crypto exposure.

CANADIAN FERTILIZER GIANTS IN CROSSHAIRS OF TRUMP ADMINISTRATION’S PRICE-FIXING PROBE

G&M - Kate Helmore (2025-12-10)

Canada’s fertilizer giants risk becoming the target of a U.S.

HOW TO PICK A GREAT BANK STOCK. OR THREE OF THEM

G&M - David Berman (2025-12-10)

If you are looking for the ultimate Buy Canada move as a snub to U.S.

AUSTRALIA’S IFM INVESTORS OPENS TORONTO OFFICE TO BACK INFRASTRUCTURE INVESTMENTS

G&M - Andrew Willis (2025-12-10)

One of Australia’s largest infrastructure investors is expanding in Canada as the federal government moves to attract more foreign capital into nation-building projects. Melbourne-based

BANK OF CANADA SET TO ANNOUNCE LAST INTEREST RATE DECISION OF 2025

Yahoo Finance (2025-12-10)

Jobs data out last week showed the unemployment rate dropped 0.4

THE CLOSE ODDS OF FED RATE CUT ON WEDNESDAY NEAR 90%

BNN (2025-12-10)

Thomas Hoenig, distinguished senior fellow at Mercatus Center at George Mason University, ex-Federal Deposit Insurance Corporation, ex-Federal Reserve Bank of Kansas City, joins BNN Bloomberg to provide a rate roadmap for the U.S.

INTEREST RATES NEED TO BE LOWER THAN GROWTH: BALA ON RATE PATH FOR THE BOC AND U.S. FED

BNN (2025-12-10)

Jay Bala, CEO and senior portfolio manager at AIP Asset Management, joins BNN Bloomberg to discuss the Canadian and U.S.

BUYOUT CEO SAYS SECONDARIES ARE PREVENTING PRIVATE EQUITY CRASH

Bloomberg - Tara Patel (2025-12-10)

The CEO of a private equity firm backed by a group of ultra-wealthy European families gave a stark warning on the industry, saying only the booming so-called secondaries market is rescuing it from a huge downturn. Jean-Marie

CANADIAN REAL ESTATE INVESTORS CAPTURED NEARLY 75% OF OWNERSHIP GROWTH

Better Dwelling (2025-12-10)

Investors accounted for 50,750 of those units—about 72.5%

MASSIVE DEBT-FUELED DEALS ARE BACK ON WALL STREET

WSJ (2025-12-10)

The megadeal is back and so is Wall Street’s immense appetite for debt. Paramount’s

ACCELERATING HOUSING SUPPLY

CMHC - CMHC (2025-12-10)

Research related to accelerating housing supply including research on supply challenges, housing projects etc.

GTA DEVELOPMENT FEES UNDER FIRE AS REPORT WARNS OF “PRICED OUT” GENERATION

CMP - Liezel Once (2025-12-10)

In Priced Out: The High Cost of Development Charges, the Board said fees has climbed 176% across the GTA since 2011, with tens or even hundreds of thousands of dollars in charges now embedded in the price of a single detached home.

OTTAWA WEIGHING TAX REFORMS TO ATTRACT FOREIGN CAPITAL FOR CANADIAN REAL ESTATE DEVELOPMENTS

G&M - Tim Kiladze (2025-12-09)

The federal government is considering changing the tax code to attract large foreign investors to domestic real estate developments, with support for such reforms coming from the head of Build Canada Homes, the new federal agency tasked with building affordable housing at scale. Ana

GLOBAL CENTRAL BANK BODY BIS RAISES CONCERNS OF DOUBLE BUBBLE IN GOLD AND STOCKS

G&M - Marc Jones (2025-12-09)

The combination of gold and share prices soaring in unison is a phenomenon not seen in at least half a century and raises questions of a potential bubble in both, global central bank umbrella body, the Bank for International Settlements, says. While

WHY FAIRFAX SHARES HAVE BEEN STRUGGLING – AND ARE NOW DUE FOR A REBOUND

G&M - Asheef Lalani (2025-12-09)

Investing is hard, and it has changed substantially since the global financial crisis.

LAWSUIT ALLEGES SCOTIABANK MISUSED PROPRIETARY INFORMATION TO BUILD RIVAL PENSION PLAN FOR DOCTORS

G&M - James Bradshaw (2025-12-09)

Pension plan provider Blue Pier is suing Bank of Nova Scotia BNS-T and its subsidiaries for $700-million in damages, alleging the bank used confidential information to set up a rival plan after talks about a possible partnership broke off. Blue

LARRY BERMAN: BANK OF CANADA NEXT MOVE – A RATE HIKE! THE NEED FOR ALTERNATIVE INCOME

BNN - Larry Berman (2025-12-09)

With Equity markets expensive and bond markets not likely to do the job, privates and alternatives will be an essential part of your portfolio needs going forward.

INTEREST RATES NEED TO BE LOWER THAN GROWTH: BALA ON RATE PATH FOR THE BOC AND U.S. FED

BNN (2025-12-09)

Jay Bala, CEO and senior portfolio manager at AIP Asset Management, joins BNN Bloomberg to discuss the Canadian and U.S.

JAMIE DIMON’S EU COMPLAINT IS TOTALLY ACCURATE

Bloomberg (2025-12-09)

Of all the American barbs raining down on Europe over the past few days — from Elon Musk’s risible claims of censorship by Brussels to the Trump administration’s warning of civilizational wipeout — those from JPMorgan Chase & Co.

PRIVATE CREDIT HIT DEPLOYMENT RECORD LAST YEAR, ACC REPORT SAYS

Bloomberg - Francesca Veronesi (2025-12-09)

The amount of capital that private credit firms have deployed reached a record last year, according to a new report from the Alternative Credit Council, with the larger players like Ares Management Corp.,

CANADIAN INFLATION OVERSTATES RENTAL PRICE GROWTH, WARNS CIBC

Better Dwelling (2025-12-09)

Once a market becomes saturated, it creates a spillover effect that cascades into more affordable markets.

BANK OF CANADA’S INFLATION CONCERNS OVERDONE: CIBC

Investment Executive - James Langton (2025-12-09)

These concerns about “cost-push” inflation have continued to linger, it said, with households potentially facing pricier imports and/or rising costs for domestic production.

BANK OF CANADA EXPECTED TO HOLD KEY RATE ON WEDNESDAY

Investment Executive (2025-12-09)

At its last decision in October, monetary policymakers signaled they might be satisfied with where the policy rate sits unless incoming economic data strays significantly from its projections.

JAMIE DIMON FORMS ADVISER SUPERGROUP FOR $1.5 TRILLION AMERICAN RESILIENCY PLEDGE

WSJ - Alexander Saeedy (2025-12-09)

Jamie Dimon wants to protect America from potential foreign adversaries.

MARKETS BET BANK OF CANADA HIKES BY LATE 2026 AFTER JOBS SURPRISE

Canadian Mortgage Trends (2025-12-08)

Markets increasingly expect the Bank of Canada’s next move will be a rate hike next year, as the country’s unexpected labour market strength suggests further monetary easing may not be needed despite U.S.

STABILITY BUFFER BRIEFING

OSFI (2025-12-08)

The Office of the Superintendent of Financial Institutions will hold an analyst briefing regarding the level of the Domestic Stability Buffer (DSB) on Thursday, December 18, 2025 at 10:00 a.m.

BANK COMPLETES ADDITIONAL FUNDING WITH ECN SUBSIDIARY, SOURCE ONE, BRINGING TOTAL FUNDINGS TO DATE TO US$90 MILLION

VersaBank (2025-12-08)

Steve Hudson, Chief Executive Officer, ECN Capital Corp.

BANK OF CANADA EXPECTED TO HOLD INTEREST RATE STEADY WHILE FED EXPECTED TO CUT

G&M - Mark Rendell (2025-12-07)

The Bank of Canada is expected to end the year back on the sidelines, likely holding interest rates steady on Wednesday after a string of surprisingly sturdy economic reports. The

RETAIL BANKING COMPETITION WAS TOO INTENSE FOR LAURENTIAN BANK, CEO SAYS

G&M - Ian Bickis (2025-12-07)

The head of Laurentian Bank of Canada LB-T says the country’s retail banking industry had become too competitive for it to try and go it alone. The

CANADA’S CRYPTO TAX CRACKDOWN REAPS MILLIONS. SO WHY NO CRIMINAL CHARGES?

BNN (2025-12-07)

The CRA had gone to Federal Court to obtain an order to unmask thousands of clients of Dapper Labs Inc.,

CHRISTOPHER LIEW: NOT ALL BANKS ARE CREATED EQUAL. HERE’S HOW TO CHOOSE WISELY

BNN - Christopher Liew (2025-12-07)

When it comes to where you put your money, you want a bank that fits your lifestyle and finances.

BOC INTEREST RATE ANNOUNCEMENT

BNN (2025-12-07)

December 10th: 9:45am: BOC Interest Rate Announcement, 10:30am: Bank of Canada news conference 2:00pm: FOMC Announcement and Summary of Economic Projections

BANKS FACE ‘DETERIORATING’ OUTLOOK: FITCH

Investment Executive - James Langton (2025-12-07)

The report added that any further interest rate cuts — which may ease the pressure on households — would still likely be negative for the Big Six banks.

REGULATORS RELAX RULES ON HIGH-RISK LENDING FOR BANKS

WSJ - Alexander Saeedy, Dylan Tokar (2025-12-07)

Regulators in Washington have rolled back rules put in place after the 2008 financial crisis that limited how much risk banks can take in corporate lending and fueled the boom in the multitrillion-dollar private credit industry. The

REGIONAL BANKS COULD LEAD PRIVATE CREDIT PUSH

WSJ (2025-12-07)

Partnerships between regional banks and private credit firms are expected to continue growing as both sides seek the benefits of cooperation.

NEW DEBIT CARDS HAVE AN UNEXPECTED FEATURE: REWARDS

WSJ (2025-12-07)

Debit cards are getting the credit-card treatment. This

DEVELOPER FEES COULD ADD MORE THAN $100,000 TO PRICE OF NEW HOMES, CMHC FINDS

G&M - SALMAAN FAROOQUI (2025-12-05)

Charges that municipalities impose on homebuilders are worsening Canada’s housing affordability, and could be costing some homeowners more than $100,000 for new units located in cities with the highest fees, according to new data from the Canada Mortgage and Housing Corp. It’s

WHOEVER CONTROLS DIGITAL WALLETS WILL CONTROL THE FUTURE

FT - Danielle Zanzalari (2025-12-04)

While lawmakers debate how to regulate cryptocurrencies, a far more consequential battle is unfolding over who controls your digital wallet and, with it, your identity.  A

RBC, NATIONAL BANK AND SCOTIABANK: A BREAKDOWN OF THE BIG BANKS’ YEAR-END EARNINGS SO FAR

G&M (2025-12-04)

Canada’s biggest banks are reporting their earnings for the fiscal year-end, covering the three months that ended Oct.

RBC, NATIONAL BANK AND SCOTIABANK: A BREAKDOWN OF THE BIG BANKS’ YEAR-END EARNINGS SO FAR

G&M (2025-12-04)

Canada’s biggest banks are reporting their earnings for the fiscal year-end, covering the three months that ended Oct.

CIBC, TD AND BMO BEAT ANALYSTS’ PROFIT ESTIMATES AS BANKS BENEFIT FROM TUMULTUOUS MARKETS

G&M (2025-12-04)

Three of Canada’s biggest banks have beaten analysts’ profit expectations, topping off a year when markets shrugged off economic concerns over trade disputes while deal activity surged on renewed interest in key resource sectors.

EQB SHARES LEAP ON PC FINANCIAL DEAL; CEO SAYS MOVE GIVES BANK 'COMPLETE' PRODUCT LINEUP

Yahoo Finance (2025-12-04)

“Now we'll have that ability to have millions of Canadians every week see our brand and then become more familiar with our complementary products.”

BIG SIX BANKS REPORT $16.45B PROFIT IN FOURTH QUARTER AS CAPITAL MARKETS BOOM

BNN (2025-12-04)

“We benefited from a constructive backdrop, especially in capital markets,” said Kelvin Tran, chief financial officer at TD Bank Group, on an earnings call Thursday.

CIBC PROFITS RISE ON BROAD GAINS INCLUDING FROM INCREASED U.S. EXPOSURE

BNN (2025-12-04)

“Our strategy remains consistent.

BMO REPORTS $2.3 BILLION PROFIT, RAISES DIVIDEND AS U.S. BUSINESS IMPROVES

BNN (2025-12-04)

“While it takes time to work through impaired files, we have seen a steady decline in new watchlist formations and expect that this will lead to lower impaired balances over time.”

TD BANK RAISES DIVIDEND DESPITE Q4 PROFIT DROP TO $3.28B

BNN (2025-12-04)

“TD had a strong fourth quarter, delivering robust fee and trading income in our markets-driven businesses as well as volume growth year-over-year in Canadian personal and commercial banking, capping a year of strong performance,” TD chief executive Raymond Chun said in a statement.

BANKER BONUS POOLS RISE 15% AT CANADA’S BIG LENDERS IN BUSY YEAR

Bloomberg - Christine Dobby (2025-12-04)

Canada’s biggest lenders set aside 15% more for banker bonus pools in fiscal 2025, a year when the firms’ capital-markets divisions were more active on deals and US President Donald Trump’s policy swings kept trading desks busy. Bank

CANADA CUTS HOUSING BUDGET 56% DESPITE CRISIS, DEFUNDS CMHC: PBO

Better Dwelling (2025-12-04)

“Federal planned spending on housing programs is set to decline 56 per cent, from $9.8

WINNERS AND LOSERS IN A FANNIE, FREDDIE IPO

WSJ (2025-12-04)

For months, the biggest banks have been vying for roles on a potential transaction by pitching solutions to its uniquely thorny issues.

SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED

G&M (2026-01-28)

“We are deeply sorry for the inconvenience the earlier technical issue has had on our clients, and sincerely appreciate their patience as we worked through this,” Ms.

STARTING A BANK IN CANADA OFTEN TAKES SEVERAL YEARS. THAT COULD SOON CHANGE

G&M - Stephanie Morotta (2025-12-18)

At a recent meeting of the Senate’s banking, commerce and economy committee, Canada’s top banking regulator, Peter Routledge, said his office is smoothing the path to starting a bank – an arduous and lengthy process that is often criticized for being too restrictive for new entrants to join the federally

BITCOIN’S SILENT EXODUS HITS CRYPTO AS LONG-TIME BUYERS CASH OUT

Yahoo Finance (2025-12-18)

New blockchain data shows that coins held for years are being divested at some of the fastest rates in recent memory, just as the market’s ability to absorb them is fading.

CANADA REPORTS BIGGEST POPULATION DECLINE ON RECORD

G&M - Vanmala Subramaniam (2025-12-17)

Canada’s population fell by roughly 76,000 over the third quarter, the largest decline this country has seen in records dating to the 1940s, and a result of major policy changes by Ottawa to curb immigration. Outside