Taxes are going up, TO condo prices are going down and recreational property up 15% to 40% in the Canadian market.

Why are Interest rates not falling.

A look at why interest rates are not falling despite UK economy going into recession. Is the Bank of England making a miscalculation to focus on inflation rather than growth?
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Goldman Sachs’ top AI picks

Brook Dane, portfolio manager at Goldman Sachs Asset Management, joins The Exchange to discuss the firm\'s top AI picks and the reasoning behind these picks.
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Does Printing Money Cause Inflation?

The link between the money supply and inflation.
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HSBC, the Untouchable Titan of Global Finance

From the filmmaker behind \'Goldman Sachs: The Bank that Rules the World\' comes a compelling new exposé delving into corruption within one of the globe\'s premier financial institutions – HSBC.
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US Economist’s Shock Warning: “Biggest Crash in Ou

This time, it’s got to crash 86% for the S&P 500 just to get back to the last low in early 2009, cautions Harry Dent
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Toni Gravelle Speech

On December 7, 2023, Deputy Governor Toni Gravelle speaks before the Windsor-Essex Regional Chamber of Commerce.
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Alberta Premier on the Supreme Court\'s ruling, an

Danielle Smith, Alberta\'s Premier, joins BNN Bloomberg to discuss the Supreme Court\'s ruling against Ottawa\'s environmental impact law, and the possibility of Alberta abandoning the Canada Pension Plan to run its own stand-alone fund.
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What Bank of America Just Said is Shocking

Bull market based on hype not reality.
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Horrific Canadian Banking Corruption Right Before

Fasten your seat belts as the banks continue moral hazard.
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The Banking System is in Free-Fall

Fall as Deposits Leave in Record Numbers Amid a Collapse in Lending
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The Financialization of Real Estate

REITS, private investors, private equity are using housing to prime their portfolios.
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Bitcoin regulations are coming

Lovers and haters of Bitcoin are polarized over the Ponzi. One thing is clear, regulations are coming.
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Are we in a bubble and, if so, when will it pop?

Since 2008 Canada has been pushing home prices higher. Canadian homes are considered by many to be the least affordable of all G20 nations. What gives?
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Canadian real estate and government, March 29

The latest Canadian real estate and government news. Risk of collapse, end of QE and rate rise are some of the issues discussed. Also the governments poor foreign policies on Ukraine are covered.
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FIRE report January 12th

Indigenous banking part 2 a continuation of earlier discussion of First Nations Bank. Other news:-Inflation-M&A under scrutiny-RBC has eyes on Europe
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BOC and reconciliation with Indigenous people

The Bank of Canada and other central banks, in conjunction with indigenous leaders want reconciliation and better economic outcomes for individuals. This video explores what is happening, gives the back story and sets the stage for a more in-depth analysis.
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Nov 26 FIRE report

Inflation and tariffs hit Trudeau in the face. Oil route as new strain goes viral. BNPL benefits questioned and investors open their wallets to receive dividends.
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FSIM FIRE report Nov 23

Duobank/Fairstone merger & Amozon boycott of Visa along with recent banking, insurance and real estate news from Canada.
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Nov 18th FIRE report

The latest financial news from the financial services industry monitor. Insurance companies should know that in 1990 BC flooding devastated the same flood plains as today. This report features coverage of insane inflation, interest rates hikes and the ongoing real estate melt-up.
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Poloz debunked, Nov 12 FIRE report

Poloz is wrong about inflation, university pension funds are out of their league, Home Capital run away, real estate wars and more from the financial services industry monitor.
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Central bank digital currencies: foundational prin

Central bank digital currencies: foundational principles and core features
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Nov 5th FIRE report

Topics todayDividends are backHigher interest rates are comingCOP26: Central bankers making miners richTO real estate melt-up
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FIRE report November 2nd

The latest Canadian FIRE news covering inflation risk and opportunities, Canadian Western bank expansion, governance and stablecoins.
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Canadian real estate February 24

Recap of recent real estate news in Canada. Tiff Macklem and market exuberance, cottage country price appreciation and the rise of lumber prices.
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Real estate: Feb 9, bulls vs bears

Bulls versus the bears, this week in the Canadian real estate industry.
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Feb 1, The Dumb Money Real Estate Vid

We a living a ponzi real estate market and the economy is at risk. Yet Doug Porter, economist BMO, is on record as saying Candian\'s want to pay more for houses. Yes, you can\'t make this stuff up. This video discusses the issues related to Porter\'s statement and explains why he is wrong.
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January real estate report 2021

2020 was a record year, except for condos. Montreal REM sites the exception to this rule. This video shares insights regarding the Canadian real estate segment.
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December 4th real estate report

Taxes are going up, TO condo prices are going down and recreational property up 15% to 40% in the Canadian market.
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Real estate, mortgage debt to income ratio improve

The mortgage debt to income ratio declined despite the pandemic. In this issue I discuss real estate stalling and immigration's impact on home prices.
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Real estate: fiscal conservatism/ponzi neoliberali

This video is intended to give viewers an understanding of the economic ideas behind Canada's potential housing bubble. This video also explains why Siddal, President and CEO of the CMHC, was likely pushed from his post.
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Caution for real estate investors, Oct 14th report

October 14th real estate report describing the issues in the market the last two weeks.
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Canadian bank industry overview - part 1

Overview of Canadian banking industry. This multi-part series looks at issues facing Canadian banks from a variety of angles. Part 1 examines the types of banks and scale using ROE and EBITDA as measures.
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Why insurance should partner with flood-claim.com

'Pros on the Go', a Fierce Tartan company are seeking insurance partners to pilot its new solution for streamlining the claims process.
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Canadian large bank comparison

Using financial data, Mark Sibthorpe compares the performance of TD bank to its rivals. TD grew faster in 2017 than its rivals, but was cited for aggressive sales practices.
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Current state of fintech in Canada

Mr. Michael R. King, Tangerine Chair in Finance and Co-Director, Scotiabank Digital Banking Lab / Ivey Business School at Western University
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XE.com explains their Big Data and AI strategy.

This video covers XE.com's presentation at the AI, Big Data and Analytics event which took place in Toronto February 7/8, 2018. Cecelia Tamez and Jean Louis provide insights into their evolution and winning strategy.
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Greenpeace urges TD bank boycott

Greenpeace's campaign to stop TD financing the oil sands is delusional. Trillions of dollars are at stake for the banks and the Canadian economy. This video explores the related financial issues.
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Insurance flood US vs Can comparison.

This video provides an overview of the main differences between Canada's approach to overland flooding versus the US approach.
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Canadian bank industry overview part 5

Canadian bank overview part 5, medium-large banks. Banks include Manulife, Tangerine and Laurentian Bank.
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Canadian banking industry overview part 4

Canadian banking industry overview of Canadian Tire Bank, Presidents Choice Financial, Equitable Bank, B2B Bank
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Part 3 Canadian bank industry overview

Overview of small-medium size banks in Canada. Banks covered include Versabank, Hollis Bank, Equity Bank and Caisse Populaire Acadienne.
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Canadian banking overview - part 2

Review of small banks including Bridgewater,Vancity Bank, Concentra, Wealth One, Zag...
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Death to bitcoin, long live bitcoin

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

RBC invested $24 million into Wave Technologies and now they will roll out Waves accounting, invoicing, reporting and billing platform to SMEs.
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Deposits have skyrocketed since the start of the p

Canadian banks have increased their deposits by $127 billion since the start of the pandemic. This video uses charts to show which banks gained the most and how.
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About

About BankNews TV: financial services industry monitor (FSIM), analytics and research

Latest news and events for Canadian financial service companies, analytics, fintech and AI. BankNews.TV provide the latest technology news and reports for banks and insurance companies looking to compete in a rapidly changing market.

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Research

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

VersaBank (TSX:VB) (“VB” or the “Bank”) today announced the implementation of its new high security Virtual Private Network (VPN) remote access software solution, developed in partnership with Tailscale, a leading provider of secure network connectivity solutions. The software enables VersaBank employees to securely and directly connect to all the Bank’s servers across multiple offices and cloud providers, using two factor authentication and with every connection encrypted. The Tailscale-based solution uses the Office 365 setup and Windows client/server applications that the Bank already had in place.


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

Whether he knew it or not, Tom Reid, a senior vice-president at Sun Life, made a case for the behavior modification concept ‘Nudging’ when he recently proposed auto-enrolling Canadians in his company’s pension plans. Sun life cover 1.2 million Canadians, about 60% of the eligible employees.
According to Reid,


CWB cause for concern  

fsim.ca/docs/cwbupdate.pdf

Mark Sibthorpe

In an earlier report BankNews.TV expressed concerns about CWB. Here are 5 charts that show cause:
1. First earnings drop in years;
2. Deposits dropping which will increase cost of funds in the future.


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.

This report looks at the issues facing Canadian banks in the event of a Bank Rate rise.  


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

Canadian and London real estate, like Macau, may also be a convenient means for China’s elite to move money offshore; with the deleterious effect of driving up home values. Louise Shelley`s research concurs. In a published paper written for the National Defense University, Shelley argues that money laundering in real estate (MLRE) increases prices.


Currency Cheat Sheet: a guide for the rest of us  

fsim.ca/docs/currencycheatsheet.pdf

Mark Sibthorpe

Readers of this document will be presented with monetary policy issues and facts
that show the USD will likely remain the dominant reserve currency, despite
questionable Chinese practices, record US debt levels, and a shaky economy.


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

Cheap oil has pushed the Bank of Canada's governor, Stephen Poloz onto a slippery slope. For some background on this, take October 22nd, when Poloz bid farewell to forward guidance, resulting in yesterday's surprise rate cut. A cut that has enraged TD and other banks, which see this as eroding profits.
 


Canada's Economy, a strategic solution  

fsim.ca/docs/ces.pdf

This report explores Canada's strategies to compete globally. The report begins with an analyses of the housing market, because housing is the canary in the coal mine; explores what happens in the event of collapse; and analyses the underlying problem causing Canada to be uncompetitive.
 


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

fsim.ca/docs/booksample.pdf

Merchants that want to understand loyalty, credit and mobile payments should read this book. It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and 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.
 


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.


News feed

MANULIFE BANK HIRES TD BANK EXECUTIVE AS CEO

G&M (2024-04-12)

Manulife Bank, a unit of life insurer Manulife Financial, has appointed Katy Boshart as its CEO, starting next week. Boshart


HOW CANADA’S HOUSING OBSESSION IS CANNIBALIZING ECONOMIC PRODUCTIVITY

G&M (2024-04-12)

Canada’s poor productivity performance has now been characterized as a national emergency.


RBC FIELDS SHAREHOLDER QUESTIONS ON CLIMATE AND INDIGENOUS RIGHTS AT ANNUAL MEETING

G&M (2024-04-12)

Dave McKay says the lender is continuing to assess its climate change impact, responding to a parade of questions on Thursday from shareholders on the environment and Indigenous rights. The


FIRST-TIME HOMEBUYERS CAN GET 30-YEAR MORTGAGES TO BUY NEWLY BUILT HOUSES UNDER RULE CHANGE

G&M - Rachelle Younglai (2024-04-12)

Ottawa will allow first-time homebuyers to take out 30-year mortgages for newly built homes, relaxing rules as the federal government faces political pressure to ease the country’s housing crunch. The


GICS VS. EQUITIES: HOW INVESTORS SHOULD PLAY THE ELUSIVE DROP IN INTEREST RATES

Yahoo Finance - John MacFarlane (2024-04-12)

“Yes, we're hearing conversations of, this is going to happen, rates are going to be moving down,” said Kalee Boivert, a Calgary-based financial advisor with Raymond Jones.


140 BMO CUSTOMERS SAY THEY LOST $1.5M IN TRANSFER FRAUDS, PLAN TO SUE BANK

CBC (2024-04-12)

But before they could, they say someone accessed their Bank of Montreal account without authorization in late 2022 and withdrew more than $63,000 through a series of transfers that the bank won't reimburse.


ECONOMISTS CONFIDENT EURO ZONE INFLATION WILL FALL TO 2% - ECB POLL

Reuters (2024-04-12)

The ECB held interest rates at a record high on Thursday but signalled it could start cutting as soon as June, even though stubbornly high U.S.


ECB CANNOT IGNORE FED AS IT GOES DOWN ITS RATE CUT PATH

Reuters - Francesco Canepa and Balazs Koranyi (2024-04-12)

The ECB is sticking to plans to reduce interest rates from record highs, likely at its next meeting in June, in light of a continued fall in inflation in the 20 countries that share the euro. ECB


RBC TIGHTENS SECURITY AS PROTESTERS RALLY OUTSIDE ANNUAL MEETING

Bloomberg - Christine Dobby (2024-04-12)

Royal Bank of Canada’s annual shareholder meeting was dominated by questions about its financing of fossil-fuel businesses as dozens of protesters rallied outside the gathering. The


FEDS BOOST HOME BUYERS PLAN WITHDRAWAL LIMIT TO $60,000

Investment Executive (2024-04-12)

“When you add the $60,000 [from the HBP] on top of $40,000 [of maximum FHSA contribution] — and over 15 years, you can probably double [the FHSA] with a reasonable rate of return — now you’re looking potentially at $140,000.


BANK OF CANADA HOLDS RATE STEADY, SAYS JUNE RATE CUT A POSSIBILITY

G&M (2024-04-11)

The Bank of Canada kept its policy interest rate steady for the sixth consecutive time but opened the door to monetary-policy easing in the coming months, with Governor Tiff Macklem acknowledging that a June rate cut is on the table. The


THE WORST PART OF A WALL STREET CAREER MAY BE COMING TO AN END

G&M (2024-04-11)

Pulling all-nighters to assemble PowerPoint presentations.


TRADERS LIGHTEN BETS ON JUNE RATE CUT: HOW MARKETS AND ECONOMISTS REACTED TO THE BOC DECISION

G&M (2024-04-11)

Market bets for when monetary easing will arrive in Canada fluctuated widely in trading this morning as the nation’s central bank /n and provided its latest guidance on what may lie ahead. Implied


WHY YOU CAN’T AFFORD A HOME, EXPLAINED IN 10 CHARTS

G&M (2024-04-11)

You earn the median household income of roughly $85,000 a year before tax and you’re looking to purchase an $800,000 home – a standard national price of late.


TRADERS FLEE REAL ESTATE STOCKS AS INFLATION DARKENS OUTLOOK

Bloomberg - Noran Mulinda (2024-04-11)

Investors dumped real estate stocks after a hotter-than-expected US inflation reading quashed expectations for an imminent break from elevated interest rates. An


SWITZERLAND LAYS OUT NEW TOO-BIG-TO-FAIL RULES IN WAKE OF CREDIT SUISSE BANKING TURMOIL LAST YEAR

Investment Executive - Jamey Keaten (2024-04-11)

Swiss authorities feared last year that the collapse of such a major lending institution as Credit Suisse could further roil global financial markets following the failure of two U.S.


JPMORGAN'S DIMON STRESSES 'CRITICAL' IMPACT OF AI

Finextra (2024-04-11)

"In the future, we envision GenAI helping us reimagine entire business workflows," writes Dimon, adding that the technology "has the potential to augment virtually every job".


CANADIAN BANKS CAUGHT IN ESG BACKLASH FROM U.S. STATE OFFICIALS

G&M - Jeffrey Jones (2024-04-10)

Two Canadian banks are in the crosshairs of an anti-ESG U.S.


CAISSE RACES TOWARD SUSTAINABILITY TARGETS BUT SAYS COMPANY DATA TO MEASURE EMISSIONS FROM INVESTMENTS IS STILL LACKING

G&M - James Bradshaw (2024-04-10)

The Caisse de dépôt et placement du Québec is reaching its targets to cut carbon emissions from its $434-billion investment portfolio years ahead of schedule, but much of the hardest work is still to come. The


LOAN GUARANTEES MUST ALLOW FOR INDIGENOUS OWNERSHIP OF OIL AND GAS DEVELOPMENTS

G&M (2024-04-10)

Just as much-needed energy projects in the U.S.


SEVERAL CANADIAN BANKS RANK HIGH GLOBALLY FOR AI RESEARCH

G&M (2024-04-10)

Canadian banks hold three of the top 10 spots worldwide for artificial-intelligence innovation, according to a new ranking. Royal


ROYAL BANK OF CANADA’S DECISION TO TERMINATE NADINE AHN WILL COST THE BANK’S NOW-FORMER CHIEF FINANCIAL OFFICER MILLIONS OF DOLLARS.

G&M (2024-04-10)

The company’s proxy circular describes “cause” as “for reason of misconduct, gross negligence or willful breach of obligations.” In


FORMER BOC GOVERNOR MARK CARNEY WARNS OF ‘SLOWER AND SHALLOWER’ RATE CUTS

G&M (2024-04-10)

Former Bank of Canada governor Mark Carney warned that central banks may cut interest rates more slowly and by less than many expect, as monetary policy adjusts to a new era defined by structurally higher /n./nSpeaking


FED'S RATE-CUT CONFIDENCE WOBBLES AS INFLATION DATA MISBEHAVES

Yahoo Finance - Howard Schneider (2024-04-10)

Since the March 19-20 policy meeting, members of the Fed's rate-setting committee, including two governors and two regional reserve bank presidents, have detailed concerns about the inflation path, a sizeable group in a consensus-minded organization that realizes the symbolic weight the start of policy easing will have on markets and,


BANK OF CANADA SEEN KEEPING RATES ON HOLD

Yahoo Finance (2024-04-10)

"The key points to watch on Wednesday will be how Governing Council characterizes inflation and how their discussions about the near-term path of policy have evolved," Royce Mendes, head of macro strategy for Desjardins Group, wrote in a note.


BANK OF CANADA TO HOLD AS IT DEBATES WHEN TO START EASING RATES

Bloomberg (2024-04-10)

The Bank of Canada is likely to leave interest rates unchanged and avoid signaling that cuts are imminent, as officials continue to assess the right moment to launch into easier monetary policy. Markets


US WEIGHS BAN ON CHARGING HOMEBUYERS FOR LENDER TITLE INSURANCE

Bloomberg - Austin Weinstein and Katanga Johnson (2024-04-10)

A top US consumer watchdog is considering whether to bar mortgage bankers from charging homebuyers for title insurance that protects the lenders, ending a long-standing industry practice. The


AS US BANK PROFITS DROP, FOCUS SHIFTS TO INTEREST INCOME OUTLOOK

Reuters - Nupur Anand (2024-04-10)

Goldman Sachs (GS.N),


CANADIAN MORTGAGES JUST HAD ONE OF THE SLOWEST QUARTERS EVER

Better Dwelling (2024-04-10)

It’s also a predictable (and desired) impact from elevated interest rates.


U.S. BANK CONSOLIDATION ON PAUSE, FOR NOW

Investment Executive - James Langton (2024-04-10)

“The decreased appetite was inevitable as the combination of higher interest rates (depressed the value of investment securities and fixed-rate loans), lower valuations (mismatched buyer/seller valuation expectations), and macro uncertainty (regional bank failures/potential recession) drove banks to the sidelines,” Morningstar noted.



HOUSING CRISIS TO REACH 'EVEN MORE ALARMING LEVELS' IF MORE ISN'T DONE

Yahoo Finance - Alicja Siekierska (2024-04-09)

According to RBC, housing construction would need to increase by nearly 50 per cent from current levels "just to meet future demographic growth."


FED'S BOWMAN SAYS TIME HASN'T ARRIVED FOR CUTTING RATES

Yahoo Finance - Michael S. Derby (2024-04-09)

For now, “our monetary policy stance is restrictive and appears to be appropriately calibrated to reduce inflationary pressures,” Bowman said.


HSBC TAKES $1 BILLION HIT FROM ARGENTINA SALE AS ASIA PIVOT CONTINUES

Yahoo Finance - Rishav Chatterjee and Lawrence White (2024-04-09)

"Argentina has been a problematic market for HSBC in recent years given hyperinflation in the region and a sharp currency devaluation, which has resulted in significant earnings volatility for the business," said Gary Greenwood, analyst at Shore Capital.


BULLARD SAYS THREE FED RATE CUTS THIS YEAR IS ‘BASE CASE’

Bloomberg - Katia Dmitrieva and Haslinda Amin (2024-04-09)

Former Federal Reserve Bank of St.


WITH NO PAY, PAKISTAN’S FINANCE MINISTER LEAVES BANKER LIFE BEHIND TO FIX ECONOMY

Bloomberg - Faseeh Mangi (2024-04-09)

Pakistan’s new finance minister is on a mission to fix his country.


EURO ZONE BANKS LOWER BAR ON MORTGAGES BUT DEMAND KEEPS FALLING

Reuters (2024-04-09)

Banks eased their standards for approving loans to households for house purchases in the three months to March and tightened access to corporate credit less than they had expected. But


CANADA TO CUT INTEREST RATES BEFORE US AS LABOR MARKET ERODES

Better Dwelling (2024-04-09)

Canada’s economy traditionally moves very closely with the US, but it may no longer be able to do so.


CRA’S FOCUS ON REAL-ESTATE AUDITS PAYING OFF

Investment Executive - Michael McKiernan (2024-04-09)

The CRA increased its focus on non-compliance in major centres such as the Greater Toronto Area and B.C.’s



PRESS CONFERENCE: MONETARY POLICY REPORT

BOC - Tiff Macklem, Carolyn Rogers (2024-04-09)

Live tomorrow 10:30 ET.


BANK OF CANADA EXPECTED TO HOLD RATES, BUT COULD SIGNAL POLICY SHIFT

G&M (2024-04-08)

The Bank of Canada is widely expected to keep interest rates steady this week for the sixth consecutive time, although analysts are watching for a shift in tone that could open the door to rate cuts over the summer. The


RBC TERMINATES CFO AFTER PREFERENTIAL TREATMENT FOR VP IN UNDISCLOSED RELATIONSHIP: SOURCES

G&M (2024-04-08)

Royal Bank of Canada terminated chief financial officer Nadine Ahn after an employee complaint sparked an internal investigation that concluded she influenced promotions and pay raises of a vice-president in the bank’s treasury department while having an undisclosed personal relationship with him, according to three sources familiar with the matter./nThe


LOANING MONEY COMES WITH PSYCHOLOGICAL STRINGS ATTACHED

G&M (2024-04-08)

Neither a borrower nor a lender be.”


U.S. INVESTORS SUCCESSFULLY DEMAND RBC CHANGE HOW IT REPORTS ON GREEN, FOSSIL FUEL INVESTMENTS

CBC - Anis Haydari (2024-04-08)

Canada's largest bank has reversed course on a policy to disclose how much it invests in green energy versus fossil fuel energy following demands from New York City's large public pension funds, with environmental groups welcoming the move but pointing out it doesn't actually reduce carbon emissions yet.


CANADA'S UNEMPLOYMENT RATE JUMPS TO 6.1%, RAISING BETS FOR JUNE RATE CUT

Yahoo Finance - Alicja Siekierska (2024-04-08)

The increase in unemployment, up 0.3


CRYPTO-TRADING PLATFORM COINBASE SECURES REGISTRATION LICENCE IN CANADA

Yahoo Finance (2024-04-08)

Canadian regulators have cleared crypto-trading platform Coinbase to do business in the country as a restricted dealer.


RBC’S MCKAY SEES CANADA RATE CUTS STARTING IN SUMMER MONTHS

Bloomberg - Christine Dobby (2024-04-08)

Royal Bank of Canada Chief Executive Officer Dave McKay says interest rate cuts in Canada are likely to start within months, though he cautions they won’t give the economy an immediate boost. “We’re


NIGERIA’S EX-CENTRAL BANK BOSS PLEADS NOT GUILTY TO NEW CHARGES

Bloomberg - Emele Onu (2024-04-08)

Former Central Bank of Nigeria Governor Godwin Emefiele pleaded not guilty Monday to new allegations of foreign-currency infractions brought against him by one of the country’s finance watchdogs. The


WHY THE LOSS OF HSBC LEAVES CANADA'S MORTGAGE MARKET LESS TRANSPARENT

FP - Robert Mclister (2024-04-08)

Before RBC’s takeover, HSBC was routinely Canada’s most aggressive, transparent lender.


IAPW EXPECTS SMOOTH TRANSITION FOR LAURENTIAN ADVISORS

FP - Katie Keir, Melissa Shin (2024-04-08)

Elliott said iAPW and Laurentian use a lot of the same vendors, including Croesus.


HOW MUCH BIG FOUR INSURANCE CEOS MADE IN 2023

Investment Executive - Jonathan Got (2024-04-08)

Roy Gori Manulife $5.1M,


LAURENTIAN BANK SELLS RETAIL BROKERAGE OPERATION WITH $2-BILLION IN CLIENT ASSETS TO IA FINANCIAL GROUP

G&M (2024-04-05)

Laurentian Bank of Canada is exiting the retail brokerage business with the sale of $2-billion of assets under administration to Montreal-based financial services giant iA Financial Group. The



SOME PROVINCES REJECT $6-BILLION HOUSING PROGRAM ANNOUNCED BY TRUDEAU AHEAD OF FEDERAL BUDGET

G&M - Ian Bailey, Laura Stone, Oliver Moore (2024-04-05)

The federal government says it is launching a multibillion-dollar fund to pay for infrastructure needed to build housing and will bypass any provinces that object to the requirements to deal directly with municipalities, prompting some provinces, including Quebec and Ontario, to quickly reject the program as an intrusion into their


BANK DEPOSITS ARE BACK ABOVE PRE-SVB LEVELS. REGIONAL LENDERS STILL HAVE PROBLEMS.

Yahoo Finance - David Hollerith (2024-04-05)

The amount of deposits held by all US banks hit $17.56


CIBC CEO DODIG SAYS MULTIPLE RATE CUTS THIS YEAR ARE UNLIKELY

Bloomberg - Christine Dobby (2024-04-05)

Canadian Imperial Bank of Commerce Chief Executive Officer Victor Dodig doesn’t expect a flurry of interest-rate cuts any time soon. “I’ve


ITALY'S STATE-BACKED LOANS POSE RESTRUCTURING HEADACHE

Reuters - Valentina Za and Giuseppe Fonte (2024-04-05)

Dealing with the extensive loan guarantees Italy provided to help businesses through the COVID-19 pandemic and energy crisis is proving complex, hampering efforts to fix some companies' debt problems, restructuring experts said. Under


LOWER RATES DO NOT IMPROVE HOUSING AFFORDABILITY: US FEDERAL RESERVE

Better Dwelling (2024-04-05)

It takes roughly two-years for monetary policy changes to be reflected in the market.


RBC BECOMES BIGGER BANK, AND BIGGER TARGET, AS IT CLOSES HSBC CANADA DEAL

Investment Executive - Ian Bickis (2024-04-05)

Besides regulatory approval, some of the most daunting aspects of the takeover happened this past week, as the bank shifted some 780,000 HSBC customers and 4,500 employees over to its systems and transformed about 100 branches to RBC blue.


RISING OIL PRICES MAY AFFECT TIMING OF BANK OF CANADA RATE CUTS, ECONOMISTS SAY

Yahoo Finance (2024-04-04)

Oil prices reached their highest levels in five months this week, and economists say that could make the Bank of Canada a “little concerned” as it figures out the right time to cut interest rates.


REATER VANCOUVER HOME SALES DOWN NEARLY 5% IN MARCH AS PRICES RISE: BOARD

Yahoo Finance (2024-04-04)

In March, there were 5,002 detached, attached and apartment properties newly available — a 15.9


POWELL: FED STILL SEES RATE CUTS THIS YEAR; ELECTION TIMING WON'T AFFECT DECISION

Yahoo Finance (2024-04-04)

Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S.


BANK OF KOREA CONSIDERING FORWARD GUIDANCE OVERHAUL

Reuters (2024-04-04)

The Bank of Korea is considering overhauling how it provides guidance on the likely future path of interest rates by extending the timeframe and giving visual estimates in a bid to boost transparency, said four sources familiar with the issue. The


CITI, JPMORGAN, RBC TO GIVE NEW CLIMATE METRIC IN DEALS WITH NEW YORK CITY

Reuters (2024-04-04)

In return, retirement funds Lander helps run have withdrawn shareholder resolutions at each bank calling for the disclosures. The


THE ERRORS TOUR: HOW THE PROS BUNGLED THE END OF ZERO INTEREST RATES

Bloomberg (2024-04-04)

We were supposed to be in a recession by now, at least if you listened to mainstream economists.


TORONTO REAL ESTATE PRICES SURGE DESPITE FEWEST SALES SINCE 2009

Better Dwelling (2024-04-04)

Greater Toronto real estate prices advanced sharply last month.


CASHMONEY, LENDDIRECT PARENT COMPANY FILES FOR CREDITOR PROTECTION

G&M (2024-04-03)

CashMoney’s parent company is strapped for cash. CURO


CANADA NEEDS A NEW DEDICATED AGENCY FOR LENDING TO SMALLER BUSINESSES

G&M (2024-04-03)

Canada’s Time to Lead One of the primary reasons cited by the government of Sir John A.


PROVINCES REJECT $6-BILLION HOUSING PROGRAM ANNOUNCED BY TRUDEAU AHEAD OF FEDERAL BUDGET

G&M - Ian Bailey, Laura Stone (2024-04-03)

The federal government says it is launching a multibillion-dollar fund to pay for infrastructure needed to build housing and will bypass any provinces that object to the requirements to deal directly with municipalities, prompting provinces, including Quebec and Ontario, to quickly reject the program as an intrusion into their jurisdiction. The


HOMES START AT $700K IN CANADA’S FASTEST-GROWING LUXURY REAL ESTATE MARKET

Yahoo Finance - Jeff Lagerquist (2024-04-03)

Saskatoon had Canada’s fastest-growing luxury market in the first two months of 2024, the realtor says in a new report released on Tuesday.


INFLATION HAS SLID AGAIN IN EUROPE. HERE'S WHAT THAT MEANS FOR INTEREST RATES

Yahoo Finance (2024-04-03)

“We think the ECB will commence with rate cuts in June,” said Rory Fennessy, senior economist at Oxford Economics.


TURKEY INFLATION NEARS 70% IN MARCH DESPITE RATE HIKES

Yahoo Finance - Beril Akman (2024-04-03)

The data comes after the central bank surprised markets by raising its benchmark interest rate to 50% in late March, amid the deteriorating inflation outlook and increased demand for hard currency.


FED BLOCKS TOUGH GLOBAL CLIMATE-RISK RULES FOR WALL STREET BANKS

Bloomberg - Alistair Marsh (2024-04-03)

US regulators, led by the Federal Reserve, have thwarted a push to make climate risk a focus of global financial rules, according to people familiar with the matter. European


CANADA’S RBC STRUGGLES TO GO GREEN WHILE FINANCING OIL

Bloomberg - Christine Dobby (2024-04-03)

In November, Dave McKay traveled from his Toronto home to Ottawa, where he accepted a medal from the Royal Canadian Geographical Society.


MORGAN STANLEY IS STAYING IN CANARY WHARF FOR ANOTHER DECADE

Bloomberg - Jack Sidders (2024-04-03)

Morgan Stanley has decided to keep its European headquarters in London’s Canary Wharf neighborhood, bucking the trend of financial firms that have opted to leave the Docklands district. The


ECB NEEDS TO STOP SUBSIDIZING BANKS, HOLZMANN SAYS

Reuters - Balazs Koranyi and Francois Murphy (2024-04-03)

"There’s no monetary policy reason why we should offer this subsidy," said Holzmann, who also sits on the ECB's 26-member Governing Council. "It's


BUYING A HOUSE IN CANADA HAS NEVER BEEN HARDER, YEARS TO CORRECT: RBC

Better Dwelling (2024-04-03)

The bank attributes the erosion of affordability to mortgage payments.


PAT DUNWOODY STEPS DOWN FROM CETFA

Investment Executive (2024-04-03)

Pat Dunwoody, founding executive director of the Canadian ETF Association, will be leaving the organization after more than a decade at the helm.


CENTRAL BANKS WALKING A TIGHTROPE

Investment Executive - Steve Locke (2024-04-03)

The most recent consumer data are flashing signs of weakness as households now contend with higher debt-service costs plus the cumulative effects of more than two years of rising prices on food and many core services.


FEDERAL RESERVE POSTS LARGEST OPERATING LOSS EVER

Central Banking (2024-04-03)

The interest expense the Fed paid on reserve balances rose by $116.4


TD INVESTMENT SERVICES FINED $300K BY CIRO

Wealth Professional - Steve Randall (2024-04-03)

At a settlement hearing, a Canadian Investment Regulatory Organization panel found that TDIS did not have adequate policies, procedures, and supervisory controls in place to ensure that it complied with the Mutual Fund Dealer Rules requiring mandatory reporting to CIRO (previously MFDA) via the Member Event Tracking System regarding complaints


VERSABANK'S 2024 ANNUAL AND SPECIAL MEETING TO BE HELD ON APRIL 17, 2024 - MEETING WILL ALSO BE LIVE STREAMED

VersaBank (2024-04-03)

VersaBank Innovation Centre of Excellence, 1979 Otter Place, London, Ontario on Wednesday, April 17, 2024 at 10:30 a.m.



BANK OF CANADA WARNS OF LOW PRODUCTIVITY ‘EMERGENCY,’ MAKING IT HARDER TO CONTROL INFLATION

G&M (2024-04-02)

The Bank of Canada issued a stark warning about the country’s weak labour productivity and low levels of business investment on Tuesday, saying the situation is an emergency that makes it harder to control inflation and which could erode living standards if left unaddressed. In


TWO OF THE FOUR BIG ACCOUNTING FIRMS FAILED TO MEET QUALITY STANDARDS LAST YEAR, CANADIAN AUDIT REGULATOR SAYS

G&M (2024-04-02)

Two of Canada’s Big Four accounting firms failed to meet regulators’ standards for quality audits last year, part of a continuing increase in problematic work. The


CPPIB SELLS STAKE IN MANAGER OF WORLD’S BIGGEST MOTORCYCLE RACES FOR $1.9-BILLION

G&M (2024-04-02)

Canada Pension Plan Investment Board is selling its stake in the world’s foremost organizer of motorcycle racing for $1.9-billion



EU BANKS WORRIED ABOUT 'UNREALISTIC' INSTANT PAYMENT DEADLINES

Finextra (2024-04-02)

A survey of 200 payment professionals at EU-based banks carried out by RedCompass Labs found that 58% of the banks that do not currently offer an instant payments service believe the deadlines are too unrealistic while a third are not confident of meeting these deadlines.



A MILLION SIMULATIONS, ONE VERDICT FOR US ECONOMY: DEBT DANGER AHEAD

Bloomberg - Bhargavi Sakthivel, Maeva Cousin, and David Wilcox (2024-04-02)

The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97% of GDP last year to 116% by 2034 — higher even than in World War II.


BROOKFIELD’S $200 BILLION CREDIT GROUP SEEKS TO LURE INSURERS

Bloomberg (2024-04-02)

Brookfield Asset Management’s newly formed credit arm will cater to its parent’s insurance business and will also pitch other insurers on overseeing their assets, the unit’s chief executive officer says. “What


U.S. REGULATORS PROBE ROLE OF ASSET MANAGERS IN BANKS

Reuters (2024-04-02)

Banking regulators are probing if asset management giants BlackRock (BLK.N),


GREECE’S BANKS CAP A REMARKABLE COMEBACK

FT (2024-04-02)

Please use the sharing tools found via the share button at the top or side of articles.


BANKS FACE $2TN OF MATURING US PROPERTY DEBT OVER NEXT 3 YEARS

FT (2024-04-02)

Please use the sharing tools found via the share button at the top or side of articles.


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MANULIFE BANK HIRES TD BANK EXECUTIVE AS CEO

G&M (2024-04-12)

Manulife Bank, a unit of life insurer Manulife Financial, has appointed Katy Boshart as its CEO, starting next week. Boshart


HOW CANADA’S HOUSING OBSESSION IS CANNIBALIZING ECONOMIC PRODUCTIVITY

G&M (2024-04-12)

Canada’s poor productivity performance has now been characterized as a national emergency.


RBC FIELDS SHAREHOLDER QUESTIONS ON CLIMATE AND INDIGENOUS RIGHTS AT ANNUAL MEETING

G&M (2024-04-12)

Dave McKay says the lender is continuing to assess its climate change impact, responding to a parade of questions on Thursday from shareholders on the environment and Indigenous rights. The


FIRST-TIME HOMEBUYERS CAN GET 30-YEAR MORTGAGES TO BUY NEWLY BUILT HOUSES UNDER RULE CHANGE

G&M - Rachelle Younglai (2024-04-12)

Ottawa will allow first-time homebuyers to take out 30-year mortgages for newly built homes, relaxing rules as the federal government faces political pressure to ease the country’s housing crunch. The


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FEDS BOOST HOME BUYERS PLAN WITHDRAWAL LIMIT TO $60,000

“When you add the $60,000 [from the HBP] on top of $40,000 [of maximum FHSA contribution] — and over 15 years, you can probably double [the FHSA] with a reasonable rate of return — now you’re looking potentially at $140,000. And remember, that’s per person. In a couple, each can do $140,000.”


RBC TIGHTENS SECURITY AS PROTESTERS RALLY OUTSIDE ANNUAL MEETING

Royal Bank of Canada’s annual shareholder meeting was dominated by questions about its financing of fossil-fuel businesses as dozens of protesters rallied outside the gathering. The meeting on Thursday featured ramped-up security and strictly enforced rules — including a limit of 60 seconds of speaking time per questioner — and was convened at a conference center in suburban Toronto rather than in the city’s downtown core, where it has been held in the past.


ECB CANNOT IGNORE FED AS IT GOES DOWN ITS RATE CUT PATH

The ECB is sticking to plans to reduce interest rates from record highs, likely at its next meeting in June, in light of a continued fall in inflation in the 20 countries that share the euro. ECB President Christine Lagarde insisted her institution was "data-dependent, not Fed-dependent" on Thursday. But analysts and policymakers said high U.S. inflation and interest rates were bound to have an impact on the ECB's plans via financial markets and trade. "While we continue to believe that the ECB will be the first central bank to start cutting rates this year, the path beyond that will remain dictated by Fed action," Max Stainton, a senior global macro strategist at Fidelity International, said. They argue the euro zone's central bank could skip a mid-summer rate reduction until it was comfortable with the path for U.S. borrowing costs.



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All amounts in millions of dollars