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.

CLIMATE RISK POSES UNIQUE THREAT TO FINANCIAL SYSTEM: FSB

Investment Executive (2025-01-17)

Additionally, climate-related events may also have non-linear effects if they represent tipping points, along with second-order and spillover effects between different parts of the financial system.

WHY ARE INTEREST RATES RISING WHEN THE FED HAS BEEN CUTTING THEM?

Investment Executive - Stan Choe (2025-01-17)

The moves for the 10-year Treasury yield, meanwhile, are set by investors.

CMHC SAYS TOTAL HOUSING STARTS IN 2024 UP 2% FROM 2023

Investment Executive (2025-01-17)

The drop came as the annual pace of urban starts in December fell 14% to 214,000 units.

OTTAWA TO UNVEIL INITIAL RETALIATION PLAN MONDAY IF TRUMP USES INAUGURATION DAY TO PROCEED WITH TARIFF THREATS

G&M - Steven Chase (2025-01-17)

The federal government will unveil proposed retaliatory tariffs on an initial round of American imports Monday if incoming U.S.

CARNEY CUTS BUSINESS TIES TO BROOKFIELD AND OTHER BOARDS AS HE LAUNCHES BID FOR LIBERAL LEADERSHIP

G&M - James Bradshaw (2025-01-17)

The former governor of the Bank of Canada and the Bank of England also said he stepped down as chair of the board of Bloomberg LP, the media and financial data company controlled by billionaire Michael Bloomberg; the board of payments processor Stripe Inc.;

CANADIAN HOUSING STARTS FALL 13% IN DECEMBER -CMHC

Yahoo Finance (2025-01-17)

The seasonally adjusted annualized rate of housing starts fell to 231,468 units from a revised 267,140 units in November, the Canadian Mortgage and Housing Corporation (CMHC) said.

UK DELAYS BANK RULES FOR A THIRD TIME ON TRUMP UNCERTAINTY

Yahoo Finance - Laura Noonan (2025-01-17)

The Bank of England pushed the application of Basel 3.1

UK’S BUY-NOW PAY-LATER MARKET BOOMS AHEAD OF CRUNCH YEAR

Bloomberg - Abhinav Ramnarayan and Laura Noonan (2025-01-17)

Activity rose nearly a fifth to about $27 billion last year, putting it at 7.7%

OTPP FACING LAWSUIT OVER IMPROPER DUE DILIGENCE IN ‘ILL-FATED’ FTX INVESTMENTS

BNN - Daniel Johnson (2025-01-17)

In October 2021, the Teachers’ pension plan invested US$75 million in FTX International, and a U.S.

BOC TO RESUME 'BUSINESS AS USUAL' THIS YEAR AS IT REBUILDS ITS ASSETS

BNN (2025-01-17)

“When QT ends, we will be back to business as usual for how we manage the balance sheet,” Gravelle said in prepared remarks for a speech to VersaFi, the organization formerly known as Women in Capital Markets.

EUROPEAN BANKS WARN OF COMPETITIVE HIT FROM UNEVEN CAPITAL RULES

Bloomberg (2025-01-17)

European banks say they risk being put at a disadvantage to global competitors in the face of diverging regulation after the UK announced a delay in implementing international capital standards. “Ensuring

ECB SHOULD NOT RUSH RATE CUTS, NAGEL SAYS

Reuters (2025-01-17)

The ECB has cut interest rates four times since June and is expected to continue doing so in the next six months, having seen inflation fall from double digits in late 2022 to just above its 2% target. But

ALBERTA REFUSES TO SIGN JOINT STATEMENT ON TRUMP TARIFFS FROM FIRST MINISTERS’ MEETING

G&M - Steven Chase (2025-01-16)

Alberta Premier Danielle Smith refused to sign off on a joint statement issued by fellow provincial leaders and Prime Minister Justin Trudeau Wednesday on how Canada plans to respond to Donald Trump’s tariff threats. The

BAY STREET INVESTMENT BANK EIGHT CAPITAL WINDING DOWN OPERATIONS, TOP PRODUCERS TO JOIN STIFEL CANADA

G&M - Tim Kiladze (2025-01-16)

Eight Capital, a Bay Street investment dealer that specialized in speculative industries such as cannabis and junior resources, is winding down, according to four sources familiar with the situation. Eight’s

CHINA'S SECOND-LARGEST FUND MANAGER PLANS US, BRAZIL FORAY, CEO SAYS

Yahoo Finance - Selena Li (2025-01-16)

China Asset Management Company, the country's second-largest fund manager, plans to launch funds in the U.S.

CANADIAN REAL ESTATE PRICES MAKE A BIGGER DROP AS REALITY SETS IN

Better Dwelling (2025-01-16)

Canadian real estate prices slipped in December despite a substantial bump in home sales.

JPMORGAN POSTS RECORD ANNUAL PROFITS

Investment Executive (2025-01-16)

JPMorgan’s net income soared 50% to more than US$14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year as businesses and consumers continued to spend despite elevated interest rates.

WHAT HAPPENS WHEN YOUR HOUSE BURNS DOWN AND YOU STILL HAVE A MORTGAGE?

WSJ - Gina Heeb (2025-01-16)

Kristen Addy and her husband, both 55 years old, intend to keep making the roughly $4,000-a-month payment for their mortgage, insurance and property tax.

CANADIAN RENTAL MARKET OUTLOOK

TD - Rishi Sondhi (2025-01-16)

About a year ago, we forecast that growth in CMHC’s measure of Canadian1 purpose-built rents would slow from 2023’s record 8% gain to a still strong 5-6% pace in 2024, as robust population growth faced off with a wave of newly completed rental supply.

THE GREAT AIRBNB CRACKDOWN

Macleans (2025-01-16)

By 2019, five of the 10 neighbourhoods in Canada with the highest concentration of Airbnb listings were in Montreal.

THE GREAT CANADIAN REAL ESTATE STAGNATION HAS JUST BEGUN: BMO

Better Dwelling (2025-01-16)

The bank uses Toronto as a key example of how the market isn’t playing out as expected.

BANK OF CANADA TO END QUANTITATIVE TIGHTENING WITHIN MONTHS, TURNING PAGE ON PANDEMIC BOND MARKET POLICY

G&M - Mark Rendell (2025-01-16)

The Bank of Canada plans to stop shrinking the size of its balance sheet in the coming months, turning the page on its massive intervention in bond markets that began in the early months of the COVID-19 pandemic In a speech in Toronto, Bank of Canada deputy governor Toni Gravelle said

FDIC SUES 17 FORMER SILICON VALLEY BANK EXECUTIVES, DIRECTORS OVER COLLAPSE

Yahoo Finance - Jonathan Stempel (2025-01-16)

In a complaint filed in San Francisco federal court, the FDIC, in its capacity the bank's receiver, said the defendants ignored fundamental standards of prudent banking and the bank's own risk policies in letting the bank take on excessive risks to boost short-term profit and its stock price.

AMERICAN EXPRESS AGREES TO PAY MORE THAN $138M TO RESOLVE INVESTIGATION INTO SALES AND MARKETING

Yahoo Finance - Philip Marcelo (2025-01-16)

“Financial institutions like American Express have no business pitching inaccurate tax avoidance schemes to sell products and turn a quick profit,” Judy Philips, Acting Attorney for the U.S.

MORTGAGE RATES HIT 7%, TRUMP POLICIES MAY EASE HOUSING COSTS

Yahoo Finance - Josh Lipton (2025-01-16)

Jim Tobin, CEO of the National Association of Homebuilders (NAHB), joins Josh Lipton on Asking for a Trend to discuss the current housing market (XLRE, XHB) and challenges for buyers, anticipating rates to remain high into 2026.

MARK CARNEY'S LIBERAL LEADERSHIP RUN LEADS TO SHAKEUP AT TOP OF BROOKFIELD

Yahoo Finance - Barbara Shecter (2025-01-16)

Carney, who launched his bid for leadership of the Liberal Party of Canada on Thursday afternoon in Edmonton, also tendered his resignation as chair of Brookfield, an alternative asset management company with $1 trillion of assets under management.

APPLE IN TALKS WITH BARCLAYS, SYNCHRONY TO REPLACE GOLDMAN IN CREDIT CARD DEAL, SOURCES SAY

Reuters - Nupur Anand (2025-01-16)

Several financial firms are vying to replace Goldman, which launched the credit card with Apple in 2019, the sources said.

ECB’S VILLEROY SAYS MAKES SENSE TO CUT RATES TO 2% BY SUMMER

Yahoo Finance - William Horobin (2025-01-15)

The French central bank chief said the neutral rate — a theoretical level that neither stimulates nor restricts the economy — is around 2% for the euro area, while the ECB’s deposit rate is currently at 3% even after three consecutive cuts of 25 basis points.

YELLEN DEFENDS COVID SPENDING, SAYS IT SAVED MILLIONS FROM LOSING JOBS

Yahoo Finance - Andrea Shalal (2025-01-15)

Yellen, who last week offered a rare concession that the stimulus spending may have contributed "a little bit" to inflation, argued on Wednesday that it substantially offset the income gaps faced by some 10 million people who lost their jobs or left the labor force by the end of 2020.

JAMIE DIMON ISN’T SURPRISED DONALD TRUMP WON THE ELECTION—HE SAYS PEOPLE WERE TIRED OF BEING LECTURED TO BY A ‘SWAMP’ OF INEFFECTIVE GOVERNMENT

Yahoo Finance - Eleanor Pringle (2025-01-15)

"People wanted kind of more pro-growth and pro-business policies; they didn't want to be lectured to on social policies continuously," he added.

LA WILDFIRE INSURANCE-LOSS ESTIMATES APPROACH $40 BILLION

BNN - Alexandre Rajbhandari (2025-01-15)

However, insurers for high-net-worth homeowners such as Chubb, American International Group Inc.

‘VALUATIONS ARE JUST TOO HIGH’: DAVID ROSENBERG SEES RISKS IN U.S. EQUITES

BNN - Daniel Johnson (2025-01-15)

“We have a situation where the multiple in the S&P 500 is now a 2.3

CANADIAN REAL ESTATE PRICES WON’T RECOVER PEAK UNTIL 2029: BMO

Better Dwelling (2025-01-15)

Canadian real estate prices have been on a wild roller coaster over the past few years.

CAPITAL ONE CHEATED CUSTOMERS OUT OF $2 BILLION BY KEEPING DEPOSITS IN LOWER-YIELD ACCOUNTS, CFPB SAYS

WSJ - Steve Gelsi (2025-01-15)

Capital One Financial Corp.

BIGGEST U.S. BANKS READY MORTGAGE RELIEF FOR VICTIMS OF LOS ANGELES WILDFIRES

G&M (2025-01-14)

JPMorgan Chase JPM-N and Bank of America BAC-N are preparing to ease mortgage repayment conditions for customers affected by the Los Angeles wildfires, as residents grapple with one of the most destructive natural disasters in the city’s history. Chase

CANADIANS' FINANCIAL STRESS RAMPING UP DESPITE INTEREST RATE CUTS: MNP

Yahoo Finance - Rosa Saba (2025-01-14)

MNP's Consumer Debt Index, which measures Canadians' attitudes toward their debt and their ability to pay their bills, dropped to the second-lowest level since it began tracking in 2017.

SIGNA PRIME ADMINISTRATOR BLAMES BOARD FOR €1 BILLION OF DAMAGES

BNN - Libby Cherry (2025-01-14)

Law firm Abel Rechtsanwälte GmbH claims board members of Signa Prime Selection AG, including former Austrian Chancellor Alfred Gusenbauer, had ignored that the group was materially insolvent by March 2022 — if not earlier, according to a letter seen by Bloomberg.

CANADA’S IMMIGRATION EXODUS KICKS OFF W/RECORD NPR OUTFLOWS

Better Dwelling (2025-01-14)

Canada expects a whopping 1.2

CENTRAL EUROPE'S BANKS CAN WITHSTAND CAR SECTOR TURMOIL, S&P SAYS

Reuters (2025-01-14)

Turmoil in Europe's car sector could hit the central European economy and hurt banks' asset quality, S&P Global said on Tuesday, although it added that lenders were strong enough to withstand stress in their automotive portfolios. Automakers

LONDON FINANCIAL JOB VACANCIES HIT 4.5-YEAR LOW IN Q4, SAYS RECRUITER

Reuters (2025-01-14)

The number of job vacancies in London's financial sector dropped by almost a fifth in the last three months of 2024 compared with the previous quarter, to its lowest level since June 2020, Morgan McKinley's London Employment Monitor on Monday showed. Job

CRYPTO HEDGE FUNDS HAMPERED BY TIMID BANKERS: REPORT

Investment Executive (2025-01-14)

According to the report, the survey found that 75% of crypto hedge fund firms reported issues with accessing, or expanding, banking services for their funds, and 67% had issues with securing banking services for the fund manager itself.

GOLDMAN SEES FINANCING AS THE FUTURE. IT IS REARRANGING ITSELF TO REFLECT THAT.

WSJ - Annamaria Androitis (2025-01-14)

The Wall Street giant said Monday it is combining three key groups in its global banking and markets division that work on finding or facilitating various types of financing deals.

WSJ MARKET TALK EXTRACT

WSJ (2025-01-14)

2002 GMT – Bank of Canada is likely to unveil this week that its quantitative-tightening program will come to an end during 2Q, CIBC Capital Markets says.

ROBINHOOD TO PAY BIGGEST FINE AMONG MORE THAN $100MN IMPOSED BY SEC

FT - Jennifer Hughes (2025-01-14)

Robinhood has agreed to pay fines of $45mn to cover data breach and record-keeping failures — one of a series of penalties levied by US regulators on Monday against financial groups, including units of Blackstone and KKR. The

BIG US BANKS SET FOR $31BN QUARTERLY PROFIT AS WALL STREET BUSINESS BOOMS

FT - Stephen Gendel (2025-01-14)

America’s biggest banks are set to post a jump in profits to $31bn for the final three months of 2024 as Donald Trump’s election victory sparked a jolt of trading activity on Wall Street and dealmaking activity picked up. Earnings

THE INTERNATIONAL EXPOSURE OF THE CANADIAN BANKING SYSTEM

BOC - Christian Friedrich, Hanno Friedrich, Nick Lawrence, Javier Cortes Orihuela, Phoebe Tian (2025-01-14)

The trend is even more pronounced for liabilities (panel b).

FORMER CANADIAN SECURITIES EXCHANGE EXECUTIVE SEEKS MILLIONS IN WRONGFUL DISMISSAL LAWSUIT, ALLEGES CEO WAS ‘ABUSIVE’

G&M - Jameson Berkow (2025-01-13)

Canada’s junior stock exchange is facing a multimillion-dollar lawsuit from a former senior executive who alleges he was fired for trying to enforce the law. Jamie

CANADA-BASED FAIRFAX AMONG WORST INSURERS IN WORLD FOR CLIMATE ACTION, ADVOCACY GROUP SAYS

G&M - Clare O'Hara (2025-01-13)

A shareholder advocacy group is accusing Canadian insurer Fairfax Financial Holdings Ltd.

THE OPTIMISM OVER US BANKS IS ABOUT TO BE PUT TO THE TEST

Yahoo Finance - David Hollerith (2025-01-13)

"Any sector, any stock that comes a long way in a short period of time, had better deliver the fundamentals to justify that type of move," Interactive Brokers chief strategist Steve Sosnick told Yahoo Finance.

CREDIT UNIONS CAN SAVE YOU MONEY. HERE’S WHY YOU SHOULD TAKE A LOOK

Yahoo Finance - Dia Adams (2025-01-13)

While banks are at the mercy of their shareholders, credit unions operate on a not-for-profit basis.

BMO EXPANDS PRIVATE CREDIT REACH VIA DEAL WITH ALTERNATIVE ASSET MANAGER

BNN - Chunzi Xu (2025-01-13)

The deal is the latest in a string of alliances between banks and private credit managers as they navigate tighter regulations and finite pools of capital.

LOS ANGELES FACES LITTLE RELIEF FROM FIRES AS WINDS PERSIST

Bloomberg (2025-01-13)

Dry, hot winds will fan blazes in Los Angeles into midweek — and some forecasts show little relief from the gusts for the rest of January — as Southern California struggles with one of the worst starts to a year for wildfires. While

POUND TRADERS ARE READY FOR ANOTHER 8% SLUMP AFTER SELLOFF

Bloomberg - assilis Karamanis and Alice Atkins (2025-01-13)

Traders in the options market are preparing for the pound to tumble as much as 8% more as fiscal woes that prompted a painful selloff across UK markets last week weigh on the currency. There’s

HARROWING PHOTOS SHOW SCALE OF DEVASTATION IN LOS ANGELES

Reuters (2025-01-13)

Images of scorched neighborhoods - including parts of Pacific Palisades, a mostly affluent enclave west of downtown, and Altadena, a diverse neighborhood on L.A.'s

US BANK PROFITS LIKELY BOOSTED BY HIGHER DEAL FEES, TRADING

Reuters - Saeed Azhar (2025-01-13)

"Investment banking is very upbeat," said Goldman Sachs banking analyst Richard Ramsden. He

BAY STREET RAISES HIGHEST AMOUNT IN A DECADE AS DEBT, EQUITY MARKETS DIVERGE

FP - Naimul Karim (2025-01-13)

The total amount of debt raised by corporate companies last year was $280.2

WSJ MARKET TALK

WSJ (2025-01-13)

The L.A.

L.A. WILDFIRES TO COST INSURERS MORE THAN $20 BILLION. THREE COMPANIES ARE LIKELY TO FOOT MOST OF THE BILL.

WSJ - Claudia Assis (2025-01-13)

Insurance companies are bracing for more than $20 billion in insurance losses from the wildfires raging in the Los Angeles area, analysts at J.P.

L.A. WILDFIRES HAVE CAUSED MORE THAN $135 BILLION IN ECONOMIC LOSSES — AND COUNTING

WSJ (2025-01-13)

The wildfires that continue to devastate swaths of the Los Angeles area — forcing more than 180,000 people to evacuate their homes — have already created damage and economic loss of at least $135 billion, according to preliminary estimates from AccuWeather. The

BMO AGREES TO PAY MORE THAN US$40-MILLION TO SETTLE SEC CHARGES ON SUPERVISION FAILURE

G&M (2025-01-13)

The regulator says the apparent issue allowed employees in the BMO Capital Markets division to allegedly sell mortgage-backed bonds using misleading metrics. The

SCOTIABANK IS RIGHTLY DIVESTING INESSENTIAL ASSETS. NOW IT SHOULD OFFER CLARITY ON MANAGING RISKS IN MEXICO

G&M - Rita Trichur (2025-01-10)

The chief executive officer of Bank of Nova Scotia BNS-T is in the second year of a turnaround plan for Canada’s most international bank, which has lagged its domestic peers on a slew of key metrics, including earnings per share growth, for many years. It’s

LOS ANGELES WILDFIRES SHOW NO SIGNS OF SLOWING AS DEVASTATION MOUNTS

Yahoo Finance (2025-01-10)

Several wildfires continue to burn wide swaths of Los Angeles County, destroying thousands of structures and forcing hundreds of thousands to evacuate.

BLACKROCK LEAVES MAJOR CLIMATE GROUP AMID WALL STREET EXODUS

Yahoo Finance - Silla Brush, Saijel Kishan and Alastair Marsh (2025-01-10)

The money manager said Thursday in a letter to clients that it decided to leave the Net-Zero Asset Managers initiative.

WALL STREET BONUSES TO JUMP BY DOUBLE DIGITS AT BIG BANKS

Bloomberg (2025-01-10)

Atop Wall Street’s largest investment banks, executives are locking in plans to award traders and dealmakers their biggest bonus increases since the pandemic, with 10% hikes — or more — coming for many desks, according to people briefed on the plans. At

CPP ‘MONEY-BACK GUARANTEE’ FOR EARLY DEATH COULD ELIMINATE BREAKEVEN BIAS

Investment Executive - Jonathan Got (2025-01-10)

“We could help them to make that better decision to double the money from CPP by delaying it.

HOME TRUST-FAIRSTONE MERGER COMPLETES

CMP (2025-01-10)

Fairstone said in a news release on Wednesday morning that the combination will see Yousry Bissada, Home Trust’s chief executive officer, become vice chair of the board of directors, with Fairstone’s Scott Wood taking the reins as chief executive officer of the combined group.

RBC CEO CONFERENCE: OPENING REMARKS | ROYAL BANK OF CANADA (RY CN)

RBC (2025-01-10)

Remarks from Dave McKay

RBC, BMO SIGNAL FUTURE OF CLIMATE-FINANCE ALLIANCE ‘IN FLUX’ AFTER U.S. BANKS DEPART

G&M - Stefanie Marotta (2025-01-09)

Two of Canada’s biggest banks have signalled that they no longer believe the Net-Zero Banking Alliance is the most effective tool to encourage climate change efforts at major financial institutions. Major

MONTREAL-AREA HOME SALES CONTINUED SURGE IN DECEMBER WITH 54% ANNUAL JUMP, REAL ESTATE BOARD SAYS

G&M (2025-01-09)

The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales continued climbing in December, with 54.1

CANADA’S SECURITIES REGULATORS SUFFER ‘ANALYSIS PARALYSIS’ ON NEW BOARD DIVERSITY RULES

G&M - Kevin Thomas (2025-01-09)

Kevin Thomas is the chief executive officer of SHARE, a Canadian shareholder advocacy organization. When

BMO STOCK GETS 20% PRICE TARGET HIKE, UPGRADE TO 'OUTPERFORM' FROM RBC

Yahoo Finance - Jeff Lagerquist (2025-01-09)

Speaking on a post-earnings conference call at the time, BMO’s chief risk officer Piyush Agarwal told investors that while the bank expects provisions to remain elevated, the fourth quarter of 2024 “represents the high point.”

SUPERINTENDENT PETER ROUTLEDGE PARTICIPATES IN RBC CANADIAN BANK CEO CONFERENCE

OSFI (2025-01-09)

Mortgages in Canada – we were preparing for payment shock, but it seems so far, so good and mortgage rates are falling so that we are probably avoiding the worst-case scenario.

CANADA FINANCE MINISTER LEBLANC SAYS HE WON’T RUN FOR LIBERAL LEADER

Yahoo Finance - Laura Dhillon Kane (2025-01-09)

LeBlanc said he’s grateful for the expressions of support from Liberal lawmakers and members across the country, but won’t be a candidate in the upcoming race.

BITCOIN LANGUISHES AS US ETFS SEE SECOND-HIGHEST DAILY OUTFLOW

Yahoo Finance - Sidhartha Shukla (2025-01-09)

Bitcoin fell as much 1.8%

CATASTROPHIC WEATHER DRIVES INSURED LOSSES TO HIGHEST SINCE 2017

Yahoo Finance - Stephan Kahl (2025-01-09)

At $140 billion, insured losses globally were more than double the 30-year average of roughly $60 billion, according to industry data compiled by Munich Re and published in a report on Thursday.

BANKERS SAY JAPAN’S $230 BILLION M&A BOOM WILL GET EVEN BIGGER

BNN - Lisa Du (2025-01-09)

Some businesses are opting to expand quickly through high-profile global acquisitions — with Nippon Steel Corp.

BEHIND THE SCENES OF RBC’S MOST COMPLEX TECHNICAL CONVERSION

RBC (2025-01-09)

“Given the aggressive timeline and complexity, we set up a dedicated integration team of more than 4,000 employees from across the enterprise, including 2,000 technology professionals, to work on all aspects of the integration, including people, process, and technology,” says Naim Kazmi, Executive Vice President and Head, Retail Banking Payments

HOLLYWOOD HILLS BURN AS LA ENGULFED BY 'THE BIG ONE'

Reuters - Rollo Ross and Jackie Luna (2025-01-09)

The homes of movie stars and celebrities were among those consumed by flames, which tore through some of the world's most lavish real estate and above showbiz landmarks instantly recognisable around the world. "This

INSURERS BRACE FOR UP TO $10BN LOSSES FROM CALIFORNIA WILDFIRES

FT - Lee Harris (2025-01-09)

Insurers are bracing for losses of as much as $10bn from wildfires in Los Angeles after blazes ravaged some of the most exclusive neighbourhoods in California, according to early estimates from analysts. Moody’s

BLACKROCK PRIVATE EQUITY FUND TAKES MORE THAN $600MN HIT ON INVESTMENT

FT - Eric Platt (2025-01-09)

A leading BlackRock private equity fund has lost more than $600mn on an investment in an insurance outsourcing company after the business struggled with its debt load. A

HOW CAR LOANS BECAME BRITAIN’S LATEST CONSUMER FINANCE SCANDAL

FT - Martin Arnold (2025-01-09)

When Marcus Johnson drove his Suzuki Swift out of a dealership in south Wales in 2017, he had no idea that he was helping to precipitate another major UK financial scandal. The

POLITICAL TURMOIL THROWING CANADIAN BUSINESSES INTO MORE UNCERTAINTY THAN U.S. PEERS, BMO CEO SAYS

G&M - Stefanie Marotta (2025-01-08)

Upheaval in Canada’s federal government is causing greater uncertainty for the country’s businesses just as the outlook is starting to appear clearer for their peers in the United States, according to Bank of Montreal BMO-T chief executive officer Darryl White. During

FORMER CIBC CEO JOHN HUNKIN DIES AT 79

G&M - Andrew Willis, James Bradshaw (2025-01-08)

Former Canadian Imperial Bank of Commerce CM-T chief executive officer John Hunkin, who tore down silos in financial services, died Monday at the age of 79. Several

OTTAWA LOOKING TO INCREASE PREDATORY DEBT ADVISER FINES TWENTY-FOLD, EXPERTS SAY IT’S UNLIKELY TO WORK

G&M - Mariya Postelnyak (2025-01-08)

The Canadian government’s plans to crack down on predatory debt advisers by hiking fines nearly twenty-fold are unlikely to solve the problem of identifying offenders and holding them and their enablers accountable, experts warn. Debt

HERE'S WHAT ECONOMISTS EXPECT THE BANK OF CANADA TO DO IN 2025

G&M - John MacFarlane (2025-01-08)

CIBC and Desjardins Group both expect the overnight rate to drop to 2.25

TENCENT MAKES BIGGEST BUYBACK SINCE 2006 AFTER US BLACKLIST

Yahoo Finance - Charlotte Yang (2025-01-08)

China’s most valuable company bought back 3.93

JPMORGAN PLANNING TO BRING STAFF TO OFFICE FIVE DAYS A WEEK

Bloomberg (2025-01-08)

JPMorgan Chase & Co.

TD MULLING FATE OF SCHWAB STAKE IN REVIEW, INCOMING CEO SAYS

Bloomberg (2025-01-08)

Toronto-Dominion Bank will consider the fate of its 10.1%

TORONTO REAL ESTATE FIZZLES OUT WITH 2ND WORST DECEMBER IN OVER 10 YEARS

Better Dwelling (2025-01-08)

Greater Toronto real estate prices lost the minor steam it produced a month prior.

FINANCE CONFIRMS CRA WILL ADMINISTER CAPITAL GAINS TAX CHANGES

Michelle Schriver (2025-01-08)

“Although these proposed changes are subject to parliamentary approval, consistent with standard practice, the Canada Revenue Agency (CRA) is administering the changes to the capital gains inclusion rate effective June 25, 2024, based on the proposals included in the notice of ways and means motion tabled Sept.

BRITAIN WILL NOT TAKE PART IN "RACE TO BOTTOM" ON FINANCIAL RULES, BOE DEPUTY GOVERNOR SAYS

Reuters (2025-01-08)

The chance to improve regulation forged in the years since the global financial crisis would not however translate to a reduction in standards, he said, adding that resilience and competitiveness could "go hand in hand". "Financial

US TRANSFERS $50 MILLION IN FORFEITED ASSETS TO ESTONIA FOR HELP IN DANSKE BANK PROSECUTION

Reuters - KANISHKA SINGH (2025-01-08)

During that money laundering scandal, Danske pleaded guilty in late 2022 to bank fraud conspiracy, forfeiting $2 billion to settle the U.S.

MORTGAGE WARS LOOMING AS SOME CANADIANS TAKE ADVANTAGE OF LOWER RATES

FP - Naimul Karim (2025-01-08)

Royal Bank of Canada chief executive Dave McKay said 60 per cent of the bank’s customers will renew at lower rates in 2025.

OUR NEXT $5 BANK NOTE

BOC (2025-01-08)

Terry Fox was selected by the Minister of Finance to be featured on Canada’s next $5 bank note.

INTEREST RATE ANNOUNCEMENT AND MONETARY POLICY REPORT

BOC - BOC (2025-01-08)

On eight scheduled dates each year, the Bank of Canada announces the setting for the overnight rate target in a press release explaining the factors behind the decision.

LIBERALS WILL CHOOSE A NEW LEADER. WHO ARE THE POSSIBLE CANDIDATES TO REPLACE TRUDEAU?

CBC - Derek Vanderwyk, Darren Major (2025-01-07)

Potential candidates will soon be making public pitches as to why they're best positioned to succeed Trudeau.

AMAZON IS ENDING REMOTE WORK. ITS EMPLOYEES HOPE THE COMPANY RECONSIDERS

CBC - Laura MacNaughton (2025-01-07)

"The people on my team are very upset about this," said CJ Felli, a system development engineer at Amazon Web Services based in Seattle.

SCOTIABANK SELLING OPERATIONS IN COLOMBIA, COSTA RICA AND PANAMA TO DAVIVIENDA

Yahoo Finance (2025-01-07)

Scotiabank says it has signed a deal to sell its banking operations in Colombia, Costa Rica and Panama to Davivienda in exchange for a 20 per cent stake in the Colombian financial institution.

CHINA’S CENTRAL BANK BUYS MORE GOLD AS PRICES TRADE NEAR RECORD

Yahoo Finance - Sybilla Gross (2025-01-07)

Bullion held by the People’s Bank of China rose to 73.29

TORONTO HOME SALES DROP 18.7% IN DECEMBER

Yahoo Finance (2025-01-07)

Seasonally adjusted sales fell 18.7%

GOLDMAN PUSHES BACK $3,000 GOLD FORECAST ON FEWER US RATE CUTS

Yahoo Finance (2025-01-07)

Slower monetary easing in 2025 is set to crimp demand for bullion-backed exchange-traded funds, causing analysts including Lina Thomas and Daan Struyven to project prices will hit $2,910 an ounce by year-end.

NIGERIA’S TOP BANK RAISES $136 MILLION IN RETAIL EQUITY OFFER

BNN (2025-01-07)

The Central Bank of Nigeria in March increased the minimum capital requirements for the nation’s banks 10-fold and gave them two years to comply.

MARK CARNEY SAYS HE’S CONSIDERING RUNNING TO SUCCEED TRUDEAU

Bloomberg - Brian Platt (2025-01-07)

Mark Carney, the former governor of the Bank of Canada and Bank of England, said he’s considering entering the race to replace Justin Trudeau as Canada’s prime minister.

CANADIAN BORROWERS TO FEEL BANK OF CANADA’S QT IN 2025: NBF

Better Dwelling (2025-01-07)

Quantitative tightening (QT) is an unconventional monetary policy tool for tightening liquidity.

BIG SIX PROFITS SEEN RISING IN 2025: DBRS

Investment Executive - James Langton (2025-01-07)

“The lower interest rate environment heading into [fiscal 2025] will provide some relief with respect to debt servicing costs, easing some concerns related to real estate secured lending and mortgage risks and wholesale credit risks,” it said.

CANADIAN BANKS ADOPT AI TO FILL PRODUCTIVITY GAP

Investment Executive - Jonathan Got (2025-01-07)

Large financial services firms launched AI pilot projects in 2023 that evolved into wider adoption last year, Sebastien said.

EXODUS BY WALL STREET BANKS FROM CLIMATE GROUP WORRIES ADVOCATES

Reuters - Simon Jessop, Iain Withers and Saeed Azhar (2025-01-07)

U.S.

US COMPANIES RUSH TO BOND MARKET IN FUNDRAISING FLURRY

Reuters - Matt Tracy (2025-01-07)

Syndicate bankers expect to see companies raising nearly $65 billion this week, and perhaps as much as $200 billion this month, in a bond issuance spree that is showing no sign of slowing after a prolific 2024. "With

'A BIT OF A CATCHUP:' BANKRUPTCIES TOOK OFF LIKE A ROCKET IN 2024

FP (2025-01-07)

The pain will continue, at least into early 2025, according to Corey Geenen, a licensed insolvency trustee and partner at Ernst and Young Inc. “We’ve

CZECH CENTRAL BANK HEAD CALLS BUDGET DEFICIT TOP INFLATION RISK

BNN - Krystof Chamonikalas (2025-01-06)

“The biggest inflationary risks are the state budget deficit and excessive amount of money in circulation,” he said.

CANADIAN BANKS SEE MORTGAGES IN ARREARS CLIMB DESPITE STATE INTERVENTION

Better Dwelling (2025-01-06)

Most people think a rising mortgage in arrears goes hand in hand with rising poverty.

SUMMARY OF GOVERNING COUNCIL DELIBERATIONS: FIXED ANNOUNCEMENT DATE OF DECEMBER 11, 2024

BOC (2025-01-06)

This summary reflects discussions and deliberations by members of Governing Council in stage three of the Bank’s monetary policy decision-making process.

FANNIE MAE, FREDDIE MAC SHARES SURGE AFTER FEDERAL AGENCIES REVEAL PRIVATIZATION PATH

Reuters - NIKET NISHANT AND MANYA SAINI (2025-01-06)

Shares of Fannie Mae (FNMA.PK),

BANK REGULATOR GIVES BLACKROCK JANUARY DEADLINE ON BANK STAKES

Reuters - Suzanne McGee (2025-01-06)

The U.S.

RBC CHIEF ECONOMIST FRANCES DONALD SAYS SLOWER GROWTH THE 'NEW NORMAL' OVER NEXT FEW YEARS

FP - Jordan Gowling (2025-01-06)

The Bank of Canada all but declared victory over inflation in 2024 and started cutting interest rates, which gave some people relief, but Royal Bank of Canada’s (RBC) chief economist Frances Donald says some prices are still 20 per cent higher than they were before the pandemic, and that’s something

REAL-TIME PAYMENTS GO BIG: $10M LIMITS AND INSTANT APIS TRANSFORM TRANSACTIONS

Pymnts (2025-01-06)

The payments landscape is becoming a hub of innovation, where traditional systems meet cutting-edge technologies.

NAZI TIES TO CREDIT SUISSE RAN DEEPER THAN WAS KNOWN, HIDDEN FILES REVEAL

WSJ - Margot Patrick (2025-01-06)

Switzerland thought it came to terms with its Nazi-assisting past after harrowing probes in the 1990s led its two largest banks to pay more than $1 billion restitution to Holocaust victims.

ENGINEER HOLDING MUTUAL FUNDS TURNS TO CANADIAN BANK FOR LONG-TERM GAINS

G&M - Brenda Bouw (2025-01-06)

My first stock was actually a technology mutual fund that I bought from Altamira Investment Services Inc.

NATIONAL BANK AND CANADIAN WESTERN BANK’S MERGER IS UNLIKE ANY OTHER IN HISTORY

G&M - JOHN TURLEY-EWART (2025-01-06)

John Turley-Ewart is a regulatory compliance consultant and Canadian banking historian. The

CANADA’S TRUDEAU IS LIKELY TO RESIGN THIS WEEK, GLOBE SAYS

Bloomberg (2025-01-06)

Mark Carney, the former governor of the Bank of Canada and the Bank of England, may also run if it’s an open contest that doesn’t favor sitting lawmakers, said one person familiar with the matter.

THE CEOS OF CANADA'S BIGGEST BANKS WILL SPEAK AT THE RBC CAPITAL MARKETS CANADIAN BANK CEO CONFERENCE ON TUESDAY, JAN. 7

Yahoo Finance (2025-01-06)

The executives slated to speak include RBC's Dave McKay, BMO's Darryl White and Scotiabank's Scott Thomson.

BITCOIN APPROACHES $100,000 AS CONGRESS SET TO CERTIFY TRUMP WIN

Yahoo Finance (2025-01-06)

The original cryptocurrency rose as much as 1.41%

WALL STREET’S TOP BANKS JUST QUIT A ONCE POPULAR ALLIANCE

Yahoo Finance - Saijel Kishan and Natasha White (2025-01-06)

The Net-Zero Banking Alliance — a group dedicated to helping lenders reduce their carbon footprints — has in quick succession been abandoned by Goldman Sachs Group Inc.,

ETFS SURGED PAST $500 BILLION LAST YEAR AS CANADA FIRMS RODE U.S. STOCK RALLY

BNN - Melissa Shin (2025-01-06)

ETF assets under management stood at $519 billion at the end of December, according to National Bank of Canada, thanks to strong market returns and inflows of $76 billion.

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.

CLIMATE RISK POSES UNIQUE THREAT TO FINANCIAL SYSTEM: FSB

Investment Executive (2025-01-17)

Additionally, climate-related events may also have non-linear effects if they represent tipping points, along with second-order and spillover effects between different parts of the financial system.

WHY ARE INTEREST RATES RISING WHEN THE FED HAS BEEN CUTTING THEM?

Investment Executive - Stan Choe (2025-01-17)

The moves for the 10-year Treasury yield, meanwhile, are set by investors.

CMHC SAYS TOTAL HOUSING STARTS IN 2024 UP 2% FROM 2023

Investment Executive (2025-01-17)

The drop came as the annual pace of urban starts in December fell 14% to 214,000 units.