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.

MONEY LAUNDERING RISKS TO CANADA’S BANKS HAVE ‘RISEN IN PROMINENCE,’ BANKING REGULATOR SAYS

G&M - James Bradshaw (2024-10-03)

Risks to banks from anti-money-laundering issues have “risen in prominence” for Canada’s banking regulator as it gains a deeper understanding of the weak spots in financial institutions’ defences, some of which have not yet been publicly revealed, the head of the regulator said. In

MUST WE KEEP RELYING ON U.S. REGULATORS TO REVEAL PROBLEMS WITH CANADIAN BANKS?

G&M - John Turley-Ewart (2024-10-03)

U.S.

AMID CANADA'S $12 TRILLION IN PAYMENTS, CASH MAKES A COMEBACK

Yahoo Finance - John MacFarlane (2024-10-03)

The report by Payments Canada, the organization that runs the country’s payments infrastructure, analyzed some 21.7

CANADA'S BMO APPOINTS CHIEF ARTIFICIAL INTELLIGENCE AND DATA OFFICER

Yahoo Finance (2024-10-03)

Bank of Montreal said on Wednesday it has named Kristin Milchanowski as its chief artificial intelligence and data officer, as the financial services sector increasingly embraces the new technology and its applications.

WOMEN, ESPECIALLY YOUNGER ONES, ARE TAKING INVESTING SERIOUSLY

Yahoo Finance - Kerry Hannon (2024-10-03)

While 7 in 10 women now invest in the stock market outside their employer-provided retirement accounts, according to a new report from Fidelity Investments, “women are nearly two times more likely than men to describe their level of investing knowledge as ‘nonexistent,’” Lorna Kapusta, head of women and engagement at

HERE’S A MAP OF IRAN’S MOST CRITICAL OIL AND GAS INFRASTRUCTURE

Yahoo Finance (2024-10-03)

While it’s unclear how Israel will respond to Iran, various scenarios potentially range from hitting military targets to oil installations and even nuclear sites.

BUFFETT MAY TARGET JAPAN BANK AND INSURANCE SHARES, ANALYSTS SAY

Yahoo Finance (2024-10-03)

The billionaire’s company this week mandated banks to manage a yen bond sale in the global market, in a sign he may increase holdings in Japan.

PUBLIC PERCEPTIONS OF BANKING REGULATOR INFLUENCED MORTGAGE DECISION: OSFI HEAD

BNN - Ian Bickis (2024-10-03)

The concern helped lead to OSFI’s announcement last week that starting Nov.

HOMEOWNERS’ CREDIT RESILIENCE ‘SURPRISED’ CANADA BANK REGULATOR

Bloomberg - Christine Dobby (2024-10-03)

Canadian homeowners have weathered the current credit cycle much better than the country’s bank regulator expected a year ago. “Households

JPMORGAN PICKS PARTNERS TO BOOST ITS REACH IN PRIVATE CREDIT

Bloomberg - Gillian Tan and Paula Seligson (2024-10-03)

JPMorgan Chase & Co.

TWO FINANCIAL PLANNERS RECEIVE FP CANADA’S FELLOW DISTINCTION

Investment Executive (2024-10-03)

Brayman’s contributions to the industry include leading research on the Fintellect Taskforce, providing input for the initial launch of the projection assumption guidelines from the FP Canada Standards Council and conducting research for the Canadian Foundation for Financial Planning, the release said.

TD ECONOMICS WINS BEST FORECASTER AWARD 2024 FROM FOCUSECONOMICS

TD (2024-10-03)

TD Economics is thrilled to receive the Best Forecaster Award 2024 for Canada Overall from FocusEconomics.

COMPETITION BUREAU OBTAINS COURT ORDER FOR PROBE INTO CANADIAN REAL ESTATE ASSOCIATION’S COMMISSION POLICIES

G&M - RACHELLE YOUNGLAI (2024-10-03)

Canada’s competition watchdog has obtained a court order requiring the national association for realtors to turn over documents as part of a probe into whether the group’s rules lead to consumers paying more in sales commissions. The

BANK OF CANADA TO EXPAND GOVERNING COUNCIL WITH SECOND EXTERNAL MEMBER

G&M - Mark Rendell (2024-10-03)

The Bank of Canada is adding a second outside voice to its governing council in a bid to diversify the views around the table when it sets interest rates. The

IT’S NOT TIME TO PANIC ABOUT CONSUMER INSOLVENCIES, YET

G&M - Jason Kirby (2024-10-03)

For Canadian households, the one-two punch of high inflation and interest rates has left a deep mark, forcing consumers to cut back on spending and shaking housing markets. On

BROOKFIELD, CARNEY TARGETED IN ATTACK BY CANADA CONSERVATIVE

Yahoo Finance (2024-10-03)

Conservative lawmaker Michael Barrett asked the commissioner of lobbying to “examine the activities” of Carney to see whether they comply with government rules.

MONTREAL HOME SALES RISE 18 PER CENT IN SEPTEMBER FROM LAST YEAR

Yahoo Finance (2024-10-03)

The median price for single-family homes was $590,000, up seven per cent from last year, while the median condominium price was $415,000, up four per cent.

REPUBLICAN PARTY'S TOP BANK CHAIN BRIDGE RAISES $41 MILLION IN US IPO

Yahoo Finance (2024-10-03)

The bank, with just one branch and 84 employees, has beaten bigger financial rivals to become a must-have partner for political work.

CANACCORD SHUTS FIXED-INCOME EMERGING MARKETS TEAM IN THE US

BNN (2024-10-03)

Canaccord closed its Brazil office in April, and cut about 10 people including some based in the US that served Latin American customers in equity sales and trading, people familiar with the matter said at the time.

CIBC EYES RISK TRANSFER TIED TO $4.5 BILLION OF CORPORATE LOANS

BNN (2024-10-03)

Banks in Canada have been selling SRTs as the country remains ahead on implementing many of the Basel III reforms.

US MONEY-MARKET FUNDS HIT ALL-TIME HIGH OF $6.46 TRILLION

Bloomberg (2024-10-03)

Investors pouring cash into US money-market funds have pushed the sector’s total assets under management to a fresh record, even as the Federal Reserve embarks on interest-rate cuts and a slew of industry reforms go into effect. Some

ONTARIO’S BIG CITIES SAW INVESTORS BUY UP TO 85% OF CONDOS, FUELED BY GOV INCENTIVES

Better Dwelling (2024-10-03)

Those who assume investors target big cities are absolutely correct.

CANADIAN CONSUMER INSOLVENCIES JUST SAW THE 2ND BIGGEST MONTH EVER

Better Dwelling (2024-10-02)

Consumers are suddenly in a rush to seek formal debt relief.

GULF COAST DOCK WORKERS STRIKE, HALTING HALF THE COUNTRY’S OCEAN SHIPPING

G&M (2024-10-01)

Dock workers on the U.S.

FAIRFAX FINANCIAL BUYS CONTROLLING STAKE IN BAUER HOCKEY’S PARENT COMPANY

G&M - Jameson Berkow (2024-10-01)

Fairfax paid US$154-million for its stake in Peak in 2017 and has since received US$72-million in dividends, the report said. Fairfax

PHYSICAL BANKING BRANCHES ARE MAKING A COMEBACK BECAUSE MONEY IS A PERSONAL THING

G&M - Gus Carlson (2024-10-01)

When I worked on Wall Street in the 1990s, my boss, Donald Marron, the chairman and CEO of PaineWebber, was in great demand as a media commentator on the sweeping changes reshaping the banking and investment industry. It

INDIGENOUS-RELATED CAPITAL MARKETS ACTIVITY SET TO GROW SIGNIFICANTLY, REPORT SAYS

Yahoo Finance (2024-10-01)

"We have seen a gradual increase in capital markets activity by Indigenous-related organizations and we anticipate this segment of financing will grow significantly in the coming years, supported by increased federal and provincial government guarantees and other forms of support," the Morningstar report states.

BANK OF MEXICO MAY CONSIDER LARGER RATE CUTS, SAYS BANK GOVERNOR

Yahoo Finance - Anthony Esposito (2024-10-01)

Banxico, as the Mexican central bank is known, lowered its key rate by 25 basis points to 10.50%

INFLATION IN EUROPE FALLS BELOW 2% AND OPENS THE WAY FOR FASTER RATE CUTS

Yahoo Finance - David McHugh (2024-10-01)

Economists have started to consider the possibility of a rate cut at the bank's Oct.

BORROWERS SMASH GLOBAL RECORDS TO SELL $600 BILLION IN DEBT

Yahoo Finance - Caleb Mutua and Josyana Joshua (2024-10-01)

More than 1,226 debt issuers sold over $600 billion in September, according to data compiled by Bloomberg.

TD BANK RESOLVES TREASURIES SPOOFING CASE AMID WIDER US PROBES

BNN - Chris Dolmetschm (2024-10-01)

The US Department of Justice on Monday said in a New Jersey federal court filing that the Canadian bank entered into a three-year deferred prosecution agreement to end criminal and civil probes into “hundreds of fraudulent spoof orders amounting to tens of billions of dollars of false supply and demand”

THAT 5% CD IS A GREAT DEAL—UNTIL THE BANK CALLS IT BACK

WSJ - Imani Moise (2024-10-01)

Before the Federal Reserve began cutting rates in September, banks offered certificates of deposit promising high yields for locking up cash years into the future.

THE TORONTO REAL ESTATE BUBBLE IS SO BIG IT BREAKS THE UBS INDEX

Better Dwelling (2024-10-01)

Toronto real estate has once again assumed its natural position as one of the biggest bubbles in the world, according to a Swiss banking giant.

RBC DS SANCTIONED FOR TRADING RULE BREACH

Investment Executive - James Langton (2024-10-01)

A CIRO hearing panel approved a settlement with the firm that saw it agree to a $1-million penalty and to pay $15,000 in costs to resolve allegations that it breached securities rules when it engaged in an unapproved off-exchange trade.

ISRAELI TROOPS HAVE LAUNCHED A GROUND OFFENSIVE IN SOUTHERN LEBANON. HERE’S WHAT WE KNOW

CNN - Helen Regan (2024-10-01)

The incursion, which Israel’s National Security Cabinet has called the “next phase” of its war with Hezbollah, marks the fourth time that Israeli soldiers have publicly entered Lebanese soil in nearly 50 years, and the first since Israel’s 34-day war in the country in 2006.

AIRCRAFT LESSORS PREPARE FOR ‘MEGA TRIAL’ IN ROW WITH INSURERS OVER PLANES STUCK IN RUSSIA

The Irish Times - Alistair Gray (2024-10-01)

Owners of the planes – including the world’s biggest commercial aircraft leasing company, AerCap – are seeking a combined total of about $3 billion from insurers in proceedings that are due to get under way on Wednesday and have been scheduled to last until Christmas.

UK HOUSE PRICES HIT HIGHEST ANNUAL GROWTH SINCE 2022

The Guardian - Jack Simpson and Richard Partington (2024-10-01)

The building society said prices grew by 3.2%

HOW TRADING FIRMS DISPLACED BANKS AS THE TITANS OF WALL STREET

FT - Joshua Franklin (2024-10-01)

In Manhattan, Goldman Sachs and Jane Street are separated by a street, a century, and a 160 per cent average pay gap. Goldman

JANE STREET IS BIG. LIKE, REALLY, REALLY BIG

FT (2024-10-01)

As Jane Street’s lawsuit against Millennium and two former employees shows, Wall Street’s most profitable trading machine isn’t keen on letting its secrets slip out. However,

SCOTIABANK SHUFFLES GLOBAL BANKING LEADERSHIP

G&M - Jameson Berkow (2024-10-01)

Less than five months since taking over Bank of Nova Scotia’s investment banking and capital markets division, Travis Machen is reorganizing his senior leadership team. Mr.

CPPIB ENTERS JOINT VENTURE AIMING TO RAISE US$15-BILLION TO BUILD DATA CENTRES

G&M - James Bradshaw (2024-10-01)

Canada Pension Plan Investment Board is forming a joint venture that aims to raise US$15-billion to buy land and build new data centres catering to the largest technology companies in the United States, in partnership with Singaporean sovereign wealth fund GIC and data centre owner Equinix Inc. The

CANADA JUST SAW 1 IN 20 BUSINESSES CLOSE IN A MONTH, BIGGEST WAVE SINCE PANDEMIC

Better Dwelling (2024-10-01)

Canadian businesses are shuttering at a breakneck speed.

LIBOR FINALLY PUT TO REST

Investment Executive - James Langton (2024-10-01)

“The transition away from LIBOR, once referenced in an estimated US$400 trillion of financial contracts, has made financial markets safer, more stable and fit for modern use,” said the U.K.’s

PETER ROUTLEDGE PARTICIPATES IN A FIRESIDE CHAT AT THE NATIONAL INSURANCE CONFERENCE OF CANADA

OSFI (2024-10-01)

OSFI recognizes the significance and importance of insurers being operationally and financially resilient in order to support policyholders following a natural disaster such as an earthquake.

SUPREME COURT CASE ON DISCLOSURES COULD HAVE A ‘LASTING IMPACT’ ON CAPITAL MARKETS: SECURITIES LAWYER

BNN - Daniel Johnson (2024-10-01)

To meet the definition of a material change under the Securities Act of Ontario, Sur said that two elements are needed.

JPMORGAN SET TO WOO CANADIAN RETAIL INVESTORS WITH ETF STRATEGY

BNN - Christine Dobby (2024-10-01)

“When we think about Canada, we have the right infrastructure in place and believe that we could very easily have a 5% market share in the ETF business over the next several years,” Travis Hughes, head of Canada for JPMorgan’s asset-management unit, said in an interview at the Toronto Stock

BARCLAYS INVESTMENT BANK GRABS MARKET SHARE IN DEALS, EXECUTIVE SAYS

Reuters - Lawrence White and Sinead Cruise (2024-10-01)

Barclays' (BARC.L),

ANTI-ESG BACKLASH IN US IS OVERSTATED, JPMORGAN EXEC SAYS

Reuters - Virginia Furness (2024-10-01)

The impact of a political backlash against environmental, social and governance-related (ESG) issues in the United States is overstated and having little bearing on the country's burgeoning green economy, a JPMorgan (JPM.N),

AUSTRALIA'S CENTRAL BANK BARS CANADIAN INVESTMENT BANK FROM PRIVATE BRIEFINGS AFTER LEAK - SOURCES

Reuters (2024-10-01)

Australia's central bank has barred Canada's global investment bank from confidential briefings after one of its clients leaked details from a closed door briefing, two sources aware of the decision said on Tuesday. This

PROGRESS ON IMPROVING BOARD DIVERSITY IN CANADA IS SLOWING

G&M - Dominique Gene (2024-09-27)

The push to add more women to boards of directors is slowing at Canadian companies as diversity initiatives lose momentum, a new report has concluded. A

COUCHE-TARD’S ‘COWBOY CANADIAN’ EYES HIS 7-ELEVEN PRIZE, BUT THE STAKES ARE SKY-HIGH

G&M - Nicolas Van Praet (2024-09-27)

Alimentation Couche-Tard Inc.

FINTRAC OFFICIAL TERMINATED OVER HANDLING OF SUSPICIOUS TRANSACTION REPORT, ANTI-MONEY-LAUNDERING AGENCY SAYS

G&M - Alexandra Posadzki (2024-09-27)

Canada’s anti-money-laundering watchdog terminated a senior intelligence officer earlier this year over allegations of improper handling of a suspicious-transaction report, according to documents filed as part of a grievance before a labour board. The

COMPETITION BUREAU APPROVES NATIONAL BANK’S TAKEOVER OF CANADIAN WESTERN BANK

G&M - Andrew Willis (2024-09-27)

The Competition Bureau of Canada signed off on the second planned takeover of one of the country’s 10 largest banks in the past year.

A MORTGAGE BROKER ON NEW BORROWING RULES, LOWER RATES AND THE RENEWED EXCITEMENT IN TORONTO REAL ESTATE

G&M - Rob Carrick (2024-09-27)

While the phrase struck her as a bit much, Ms.

AIMCO CIO MARLENE PUFFER DEPARTS, TWO EXECUTIVES TO SHARE INVESTMENT DUTIES

G&M - James Bradshaw (2024-09-27)

Alberta Investment Management Corp.’s

CANADA'S TD BANK NAMES NEW CO-HEADS OF US COMMERCIAL BANKING

Yahoo Finance (2024-09-27)

Canada's TD Bank on Thursday named Andy Bregenzer and Jill Gateman as co-heads of its U.S.

CANADA’S BENCHMARK STOCK INDEX CLOSES ABOVE 24,000 FOR FIRST TIME

BNN - Geoffrey Morgan and Stephanie Hughes (2024-09-27)

Thursday’s milestone comes less than two months after the index eclipsed 23,000 points for the first time in July, when the advance was driven by Bank of Canada rate cuts.

WHO IS WORKING FROM HOME IN CANADA? HERE’S WHAT ONE REPORT FOUND

BNN - Brooklyn Connolly (2024-09-27)

In addition, the study found that those working in the finance and insurance industries had the largest share of work-from-home employees at 65 per cent.

MOODY’S CONSIDERS UPGRADE FOR NATIONAL BANK

Investment Executive - James Langton (2024-09-27)

“The review for upgrade reflects [the bank’s] robust and stable profitability, supported by its disciplined growth strategy, its strong asset quality and capital position, healthy levels of funding and liquidity that protect against market shocks, as well as its growing presence across Canada, including through its recently announced acquisition of

HOMEOWNERS WHO SWITCH LENDERS AT MORTGAGE RENEWAL WILL NO LONGER BE SUBJECT TO STRESS-TEST RULES, OSFI SAYS

G&M - RACHELLE YOUNGLAI (2024-09-26)

The move is set to go into effect Nov.

LIGHTSPEED COMMERCE LATEST CANADIAN TECH COMPANY PUT UP FOR SALE

G&M - Andrew Willis (2024-09-26)

Lightspeed Commerce Inc.LSPD-T

THE $1-TRILLION CLUB: BERKSHIRE HATHAWAY FINALLY JOINS EXCLUSIVE GROUP

G&M - Jason Kirby (2024-09-26)

For most of his career as an investor, Warren Buffett steered well clear of technology stocks.

THE PRICE OF GOLD KEEPS CLIMBING TO UNPRECEDENTED HEIGHTS. HERE’S WHY

G&M - Wyatte Grantham-Philips (2024-09-26)

Gold hit another all time high this week.

GTA FACES WIDEST HOUSING GAP IN OVER 50 YEARS AMID SOARING POPULATION GROWTH

G&M - Shantaé Campbell (2024-09-26)

A key factor contributing to this issue is the length of time it takes for new housing projects to receive municipal approvals.

TOP BANKERS CHASE A BIG PAYDAY BY DEFECTING TO PRIVATE CREDIT

Yahoo Finance (2024-09-26)

At least 20 senior bankers in Europe — Gillam and Khaled among them — have switched sides since rate rises upended capital markets, according to rough estimates by Bloomberg News, as the continent’s less developed private-capital industry plays catchup with the US.

WORLD BANK SEEKS LGBTQ COMPROMISE TO END LOAN FREEZE IN UGANDA

BNN - Yinka Ibukun and Fred Ojambo (2024-09-26)

Uganda is the only country to have ever faced such a World Bank backlash for passing anti-LGBTQ legislation, making it a bellwether for how the lender enforces its non-discrimination standards.

CHINA WEIGHS $142 BILLION CAPITAL INJECTION INTO TOP BANKS

Bloomberg (2024-09-26)

China is considering injecting up to 1 trillion yuan ($142 billion) of capital into its biggest state banks to increase their capacity to support the struggling economy, according to people familiar with the matter. The

CANADIAN REAL ESTATE FLIPPERS ARE STILL NEAR RECORD LEVELS

Better Dwelling (2024-09-26)

Canadian real estate owners flipping after less than 12-months of ownership has barely pulled back.

AUSTRALIAN COURT SANCTIONS VANGUARD GREENWASHING

Investment Executive - James Langton (2024-09-26)

Among other things, it found that the index screens had “significant limitations,” that the screens weren’t applied to a “significant proportion” of the securities in the index and the fund, and that the fund included issuers that violated certain ESG criteria, including criteria regarding fossil fuels and alcohol.

VERSABANK RECOGNIZED FOR CONTINUING LEADERSHIP IN BANKING TECHNOLOGY

VersaBank (2024-09-26)

For this project, VersaBank moved the core CAR logic into a serverless function in the cloud, which resulted in ultra-fast computing and without impairing any of the demands on the bank's Asset Management System (AMS).

BC NDP’S AFFORDABLE HOUSING PLAN - 40% PROVINCE OWNED HOMES

Reddit (2024-09-26)

The B.C.

INDICATORS OF FINANCIAL VULNERABILITIES

BOC (2024-09-26)

The Bank of Canada promotes the country’s economic and financial welfare by fostering a stable and efficient financial system.

US ACCUSES VISA OF DEBIT CARD MONOPOLY

BBC (2024-09-24)

“Today's lawsuit ignores the reality that Visa is just one of many competitors in a debit space that is growing, with entrants who are thriving," she said.

CAROLINE ELLISON SENTENCED TO 2 YEARS FOR ROLE IN FTX CRYPTO FRAUD

BBC (2024-09-24)

Prosecutors said Ellison met them about 20 times to help them piece together FTX's unravelling, and make their case against Bankman-Fried.

NEW MORTGAGE RULES WILL SIGNIFICANTLY LOWER DOWN PAYMENTS ON PROPERTIES COSTING $1-MILLION OR MORE, GUIDANCE SHOWS

G&M - RACHELLE YOUNGLAI (2024-09-24)

The federal government’s new mortgage rules will significantly reduce down payments for home buyers on homes worth more than $1-million, according to technical details released Tuesday. The

TIFF MACKLEM SIGNALS MORE RATE CUTS ARE COMING, BUT REMAINS TIGHTLIPPED ON SIZE AND PACE

G&M - Mark Rendell (2024-09-24)

Bank of Canada Governor Tiff Macklem said it’s reasonable to expect more interest-rate cuts, but he remained tight-lipped about the pace of easing in his first comments on monetary policy since headline inflation returned to the central bank’s 2-per-cent target. “It

RBC'S FORMER HSBC WORKERS FEAR JOB LOSSES

G&M - Nivedita Balu (2024-09-24)

Some Royal Bank of Canada RY-T employees who joined as part of an HSBC Canada acquisition are worried about losing their jobs when a six-month guarantee expires this month, according to six sources familiar with the situation. The

TD RAISED ITS HOUSING SALES AND PRICE FORECASTS. HERE’S HOW IT SEES THE REAL ESTATE MARKET UNFOLDING OVER THE NEXT YEAR

G&M - Jennifer Dowty (2024-09-24)

Falling interest rates are a key driver of housing activity.

FIXED MORTGAGE RATES OF BELOW 4% ARE BEING SPOTTED IN CANADA FOR THE FIRST TIME IN YEARS

G&M - Erica Alini (2024-09-24)

Fixed mortgage rates under the 4-per-cent mark are like an endangered species coming back from the brink of extinction in Canada’s current real estate market. Already,

CFTC ORDERS CANADIAN IMPERIAL BANK OF COMMERCE TO PAY $30 MILLION -STATEMENT

Yahoo Finance (2024-09-24)

The CFTC said it found that, from at least September 2018 to now, the bank failed to stop employees, including those at senior levels, from communicating using unapproved communication methods, including messages sent via personal text.

VISA STOCK PLUNGES 5% AS FEDS SUE OVER ALLEGED DEBIT CARD MONOPOLY

Yahoo Finance - Greg McKenna (2024-09-24)

Over 60% of the more than $4 trillion in debit transactions that take place in the U.S.

CANADIANS WANT A ‘MORE PERSONAL RELATIONSHIP’ WITH FINANCIAL INSTITUTIONS AMID FINANCIAL STRESS: SURVEY

BNN (2024-09-24)

Canadian women were found to be drastically more likely to stress about their finances.

MORTGAGE AND REAL ESTATE INDUSTRY HIT THE JACKPOT WITH THIS TRIO OF ANNOUNCEMENTS

FP (2024-09-24)

Out of nowhere, the government decided that Canada’s default insurance market needed stimulation.

CANADIAN REAL ESTATE INVESTORS CAPTURE A NEW RECORD MARKET SHARE

Better Dwelling (2024-09-24)

Canadian real estate investors hit a new record share of the market earlier this year.

FOR CHALLENGERS IN CANADA’S BANKING SECTOR, IT’S A LONG ROAD TO HIGHER MARKET SHARE

G&M - Ian Bickis (2024-09-23)

It’s not easy going up against Canada’s banking oligopoly, but some are trying. Challengers

WHO DARES TO BRING BAD NEWS TO THE MEN WHO RUN CI FINANCIAL?

G&M - David Milstead (2024-09-23)

I’m beginning to think the leaders of CI Financial Inc.

TD'S 'SURPRISE' IN-HOUSE CEO PICK PROMPTS WAIT-AND-SEE RESPONSE FROM ANALYSTS

Yahoo Finance - John MacFarlane (2024-09-23)

TD Bank price targets and outlooks have been static in spite of investor and analyst surprise at Thursday's announcement that 32-year TD veteran Raymond Chun would replace CEO Bharat Masrani next April.

WHO IS RAYMOND CHUN, THE NEXT CHIEF EXECUTIVE OF TD BANK?

Yahoo Finance - Sarah Louis (2024-09-23)

Raymond Chun, 55, will take the helm of Canada’s second-largest bank in April, when current chief executive Bharat Masrani retires, the bank said this week.

TRUMP KEEPS HAMMERING FED OVER RATE CUT: 'IT WAS A POLITICAL MOVE'

Yahoo Finance - Jennifer Schonberger (2024-09-23)

"Most people thought it was going to be half of that number, which probably would have been the right thing to do," Trump added.

BARCLAYS ADDS TO CANADA HIRING SPREE WITH EX-CITI BANKER DAVIS

BNN - Derek Decloet and Paula Sambo (2024-09-23)

Davis was most recently at Citigroup Inc.,

WEALTHSIMPLE UNLIKELY TO ACCEPT ANY BIG BANK TAKEOVER OFFERS, CEO SAYS

BNN - Whitney Keunen, (2024-09-23)

As Canada’s banking sector has been ripe with consolidation over the past few years, Katchen said in an interview with BNN Bloomberg Thursday that the company is “pretty committed to the independent path” regarding the prospect of a potential acquisition by one of Canada’s big banks.

CHINA STIMULUS HOPES RISE AS PBOC CUTS RATE, PLANS BRIEFING

Bloomberg (2024-09-23)

China announced plans for a rare briefing on the economy by three top financial regulators just as it cut one of its short-term policy rates, fueling speculation officials are preparing to ramp up efforts to revive growth. Authorities

HOW CENTRAL BANKS WON THE BATTLE BUT LOST THE WAR

Bloomberg - Video (2024-09-23)

In the battle against inflation, central banks used to be the lone hero.

WE GET EITHER 4% MORTGAGE RATES OR A STABLE JOB MARKET

Bloomberg - Conor Sen (2024-09-23)

The Federal Reserve’s interest rate cut last week has led many to wonder what it means for mortgage rates.

COMMERZBANK SHARES FALL AFTER GERMANY HOLDS STAKE-REDUCTION PLANS

WSJ - Elena Vardon (2024-09-23)

The stock traded around 4% lower at 15.08

HOW FIVE WALL STREET INVESTORS WILL TRADE FALLING INTEREST RATES

WSJ - David Uberti (2024-09-23)

For all the nail-biting about the economy over the past year, investors had it easy: a 5% yield on short-term U.S.

BANK OF CANADA DROPS PLANS TO ISSUE DIGITAL CURRENCY

Investment Executive - Rudy Mezszetta (2024-09-23)

“The body of knowledge built over recent years will be invaluable if, at some point in the future, Canadians, through their elected representatives, decide they want or need a digital Canadian dollar,” the bank’s site stated.

WHY FEW CANADIAN CREDIT-CARD HOLDERS ARE BENEFITING FROM INTEREST-RATE CUTS, UNLIKE IN THE U.S.

G&M - Erica Johnson (2024-09-23)

With central bank interest-rate cuts now under way in the United States as well, Americans are largely set to see the cost of their credit-card debt slowly decline.

HOW RBC’S LAURENCE BENSAFI FINDS BARGAINS IN CHINA, INDIA AND BEYOND

G&M - Shirley Won (2024-09-23)

Laurence Bensafi has spent nearly 20 years managing emerging-markets equities, but it was an accidental career.

2 REASONS WHY AUTO LOAN REPAYMENTS HAVE RISEN 30% SINCE 2019

Yahoo Finance (2024-09-23)

The median auto loan repayment has risen 30% since 2019, according to the Bank of America Institute.

WHY REGIONAL BANKS ARE SET TO BENEFIT FROM EASING INTEREST RATES

Yahoo Finance (2024-09-23)

Christopher McGratty, head of US bank research at KBW, a Stifel Company, joins Market Domination to discuss how the Federal Reserve's rate easing cycle will impact regional banks and lays out some of his top picks in the sector. "We're

VISA FACES JUSTICE DEPARTMENT ANTITRUST CASE OVER DEBIT CARDS

Bloomberg - Leah Nylen and Kartikay Mehrotra (2024-09-23)

The US Justice Department plans to allege that Visa Inc.

WHAT CLIFF? CANADIAN MORTGAGE CHANGES MAY FUEL CREDIT GROWTH: BMO

Better Dwelling (2024-09-23)

The slow growth for Canadian mortgage debt isn’t expected to persist for long.

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.

MONEY LAUNDERING RISKS TO CANADA’S BANKS HAVE ‘RISEN IN PROMINENCE,’ BANKING REGULATOR SAYS

G&M - James Bradshaw (2024-10-03)

Risks to banks from anti-money-laundering issues have “risen in prominence” for Canada’s banking regulator as it gains a deeper understanding of the weak spots in financial institutions’ defences, some of which have not yet been publicly revealed, the head of the regulator said. In

MUST WE KEEP RELYING ON U.S. REGULATORS TO REVEAL PROBLEMS WITH CANADIAN BANKS?

G&M - John Turley-Ewart (2024-10-03)

U.S.

AMID CANADA'S $12 TRILLION IN PAYMENTS, CASH MAKES A COMEBACK

Yahoo Finance - John MacFarlane (2024-10-03)

The report by Payments Canada, the organization that runs the country’s payments infrastructure, analyzed some 21.7