Taxes are going up, TO condo prices are going down and recreational property up 15% to 40% in the Canadian market.
How the US will Inflate its Debt Away
TD Bank Releases ALARMING Report About State Of Ca
Why are Interest rates not falling.
Goldman Sachs’ top AI picks
Does Printing Money Cause Inflation?
HSBC, the Untouchable Titan of Global Finance
US Economist’s Shock Warning: “Biggest Crash in Ou
Toni Gravelle Speech
Alberta Premier on the Supreme Court\'s ruling, an

What Bank of America Just Said is Shocking

Horrific Canadian Banking Corruption Right Before

The Banking System is in Free-Fall
The Financialization of Real Estate
The FDIC Threatens Downgrades That Will Cut Off Ac
Bitcoin regulations are coming

Are we in a bubble and, if so, when will it pop?

Canadian real estate and government, March 29

FIRE report January 12th

BOC and reconciliation with Indigenous people

Nov 26 FIRE report

FSIM FIRE report Nov 23

Nov 18th FIRE report

Poloz debunked, Nov 12 FIRE report

Central bank digital currencies: foundational prin

Nov 5th FIRE report

FIRE report November 2nd

Canadian real estate February 24

Real estate: Feb 9, bulls vs bears

Feb 1, The Dumb Money Real Estate Vid

January real estate report 2021

December 4th real estate report

Real estate, mortgage debt to income ratio improve

Real estate: fiscal conservatism/ponzi neoliberali

Caution for real estate investors, Oct 14th report

Canadian bank industry overview - part 1

Why insurance should partner with flood-claim.com

Canadian large bank comparison

Current state of fintech in Canada

XE.com explains their Big Data and AI strategy.

Greenpeace urges TD bank boycott

Insurance flood US vs Can comparison.

Canadian bank industry overview part 5

Canadian banking industry overview part 4

Part 3 Canadian bank industry overview

Canadian banking overview - part 2

Death to bitcoin, long live bitcoin

RBC to integrate Wave Technologies

Deposits have skyrocketed since the start of the p

About
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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
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.
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.
News feed
SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED
G&M (2026-01-28)
âWe 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,â Ms.
BANK OF MONTREAL BOOSTS WEALTH MANAGEMENT BUSINESS WITH $625-MILLION BURGUNDY DEAL
G&M - Andrew Willis, Stefanie Marotta (2025-06-20)
Bank of Montreal BMO-T beefed up its wealth management business on Thursday by acquiring Burgundy Asset Management Ltd.
CMHC GIVES UP ON COMPARING HOUSING AFFORDABILITY TO 2004 LEVELS
G&M - RACHELLE YOUNGLAI (2025-06-20)
Canadaâs national housing agency says it is no longer possible to build enough homes to bring housing affordability back to 2004 levels and it will start using 2019 as a more realistic benchmark. Price
CAISSE DROPS IVANHOé CAMBRIDGE, OTéRA NAMES FROM RESTRUCTURED REAL ESTATE DIVISION
G&M - James Bradshaw (2025-06-20)
Quebecâs largest pension fund manager is rebranding its revamped real estate arm, dropping the names of subsidiaries Ivanhoé Cambridge and Otéra Capital Inc. The
NORWAY PLANS TEMPORARY BAN ON POWER-INTENSIVE CRYPTOCURRENCY MINING
BNN (2025-06-20)
âThe Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible,â Minister for Digitalization and Public Administration Karianne Tung said in a statement.
BROOKFIELD’S INSURER TRIMS PRIVATE CREDIT, CITING CROWDED TRADE
Bloomberg - Alexandre Rajbhandari (2025-06-20)
Brookfield Corp.âs
CREDIT CARD PAYMENT RATES DOWN, DELINQUENCIES RISING
Investment Executive - Jonathan Got (2025-06-20)
While balances have increased, average credit card spending in March 2025 fell by 4.2%
ISRAEL’S WAR ON IRAN IS COSTING HUNDREDS OF MILLIONS OF DOLLARS A DAY
WSJ - Anat Peled (2025-06-20)
Israelâs conflict with Iran is costing the country hundreds of millions of dollars a day, according to early estimates, a price tag that could constrain Israelâs ability to conduct a lengthy war. The
BRIDGING FINANCE EXECUTIVES MUST PAY MORE THAN $27-MILLION FOR INVESTMENT FRAUD, ONTARIO TRIBUNAL SAYS
G&M - Jameson Berkow (2025-06-19)
David and Natasha Sharpe, the architects of Bridging Finance Inc.,
GROWING NUMBER OF RENTERS ARE WAITING FOR HOME PRICES TO DECLINE FURTHER BEFORE BUYING, REPORT SAYS
G&M - Dayne Patterson (2025-06-19)
Canadian renters are waiting for housing prices to drop before jumping into the market, according to a new report, reflecting optimism over a trend of falling prices. As
HOW THIS FORMER MONTREAL ALOUETTE MADE THE TRANSITION TO FINANCIAL ADVICE
G&M - Brenda Bouw (2025-06-19)
In the Behind the Advice series, Globe Advisor asks advisors about their relationship with money from a young age, lessons learned over the years and how their experiences influence the advice they give to clients.
WHY THE HOUSING MARKET IS SO STUCK, IN 4 CHARTS
Yahoo Finance - Claire Boston (2025-06-19)
Mortgage rates arenât helping.
BROOKFIELD LEADS AS RBC INITIATES BULLISH CALL ON DIVERSIFIED FINANCIALS
Yahoo Finance - Luke Juricic (2025-06-19)
RBC Capital Markets has initiated coverage on the North American diversified financials sector with a bullish stance on select names showing attractive value and structural growth dynamics.
CANADIAN PENSION DOUBLES DOWN ON GREEN INVESTING WITH $400 MILLION PLEDGE
Bloomberg (2025-06-19)
La Caisse, one of Canadaâs largest institutional investors, is doubling down on its sustainable investing targets after meeting its goals for this year earlier than expected. The
CANADIAN CONDO PRICES DROP FOR 19TH STRAIGHT MONTH, LOWEST SINCE 2021
Better Dwelling (2025-06-19)
Canadian condo prices have held up better than other segments, but cracks are forming.
COOPETITION IS GOOD FOR ADVISORS, CLIENTS AND THE INDUSTRY AT LARGE
Investment Executive - Tashia Batstone (2025-06-19)
Coopetition describes a relationship where organizations or professionals who may compete in some areas come together to collaborate in others, especially when shared values or public interest goals are involved.
CANADIAN POPULATION GROWTH CONTINUED TO SLOW WITH ALMOST NO INCREASE IN Q1
Investment Executive (2025-06-19)
It was the sixth consecutive quarter of slower population growth after a decision by the federal government in 2024 to lower the levels of both temporary and permanent immigration.
STABLECOIN LEGISLATION WILL JUICE DEMAND FOR TREASURYS—TO A POINT
WSJ - Sam Goldfarb (2025-06-19)
New legislation regulating stablecoinsâa type of digital currency pegged to the U.S.
BANK OF CANADA GOVERNING COUNCIL IS CONCERNED INFLATION COULD PERSIST FOR LONGER
Yahoo Finance - Promit Mukherjee (2025-06-18)
Its summary of deliberations showed the members took into consideration the unexpected firmness in inflation data to take its rates decision and that the team spent considerable amount of time probing how trade policy was influencing prices.
CANADIAN BANK FOSSIL FUEL FUNDING ROSE IN 2024 DESPITE RECORD HEAT: REPORT
Yahoo Finance (2025-06-18)
The report pegged Scotiabank as 13th, CIBC at 14th and BMO Financial Group as 16th, with all of the big five Canadian banks showing an increase in funding from the previous year, including a 46 per cent jump for TD and a 41 per cent increase for CIBC.
CANADA’S RETAILERS ARE IN TROUBLE AND THERE’S MORE TO COME: INSOLVENCY, RESTRUCTURING EXPERTS
BNN (2025-06-18)
âA lot of them have been just barely staying afloat since the pandemic ...
BARCLAYS HIRES MCKINSEY TO IDENTIFY SAVINGS IN INVESTMENT BANK
Bloomberg (2025-06-18)
Barclays Plc has hired McKinsey & Co.
PRIVATE CREDIT MAKES UP A THIRD OF US LIFE INSURANCE ASSETS
Bloomberg (2025-06-18)
Insurers in Europe and the United States are ramping up their exposure to private credit, according to two new reports from Moodyâs Ratings. As
HSBC WEIGHS ASKING STAFF TO SHOW UP IN OFFICE THREE DAYS A WEEK
Bloomberg (2025-06-18)
HSBC Holdings Plc is considering telling all its employees to work from one of the bankâs offices at least three days a week, as it looks to tighten some of its flexible policies that have been in place since the pandemic. The
CANADIAN REAL ESTATE PRICES TO REMAIN SLUGGISH, BEAR MARKETS LAST YEARS: BMO
Better Dwelling (2025-06-18)
He reminds investors that prices have dropped for five consecutive months, are down over 3% from last year, and 17.5%
OTTAWA PLEDGES TO ADVANCE OPEN BANKING AT ‘EARLIEST OPPORTUNITY’
Investment Executive (2025-06-18)
Instead of waiting on Ottawa, the National Bank has moved forward on its own open banking framework that lets fintechs â financial technology firms that develop apps for Canadians and businesses â plug into their databases to share information securely when users give their permission.
GLOBAL BANKS INCREASE FOSSIL-FUEL FUNDING AS CLIMATE PLEDGES CRUMBLE
WSJ - Elena Vardon (2025-06-18)
The worldâs largest lenders committed $869.4
OSFI 2025–26 DEPARTMENTAL PLAN AT A GLANCE
OSFI (2025-06-18)
In 2025-26, our efforts will remain focused on responding to a heightened risk environment and operationalizing our expanded mandate to implement an integrity and security regime.
U.S. TURMOIL CREATES OPPORTUNITY FOR CANADA TO ATTRACT NEW CAPITAL, CPPIB HEAD SAYS
G&M - James Bradshaw (2025-06-18)
Canada and other countries have a chance to attract new capital as U.S.
GLOBALIVE SAYS OTTAWA HAS APPROVED ITS BID FOR WEALTH ONE BANK
G&M - ALEXANDRA POSADZKI, ANDREW WILLIS (2025-06-18)
A consortium of Canadian investors led by Globalive Corp.
TD’S LICENCE TO OPERATE IN U.S. AT RISK DURING 2024 SETTLEMENT TALKS, FORMER REGULATOR SAYS
G&M - Stefanie Marotta (2025-06-18)
Toronto-Dominion Bank TD-T could have lost its licence to operate in the U.S.
CANADA’S HOUSEHOLD DEBT CRISIS: WHEN AND HOW WE OUTPACED BRITAIN AND THE U.S.
G&M - Hanif Bayat (2025-06-18)
Canadaâs household debt-to-GDP ratio has remained at or above 100 per cent for a decade â currently the highest among the worldâs 10 largest economies. As
FALLING HOME PRICES COULD MEAN TROUBLE FOR CANADA’S GDP AND THE HOME OF THE WEEK: CANADIAN REAL ESTATE NEWS FOR THE WEEK OF JUNE 13
G&M - Jacob Dube (2025-06-17)
With tariffs, low oil prices and an existential threat to Canadaâs auto sector, the economy could use a quick fix to stimulate some growth.
BUSINESS GROUPS URGE CARNEY TO PAUSE DIGITAL SERVICES TAX IN FEAR OF TRUMP BACKLAS
G&M - Clare O'Hara (2025-06-17)
A group of Canadian business associations are pressing Prime Minister Mark Carney to pause the implementation of âdiscriminatoryâ taxes that have spurred U.S.
CITI CALLS TIME ON GOLD’S RALLY ON SLUMPING DEMAND, FED CUTS
Yahoo Finance (2025-06-17)
Gold (GC=F) is expected to sink back below $3,000 an ounce in the coming quarters as a record-setting run peters out, according to Citigroup Inc.,
CENTRAL BANKS FAVOUR GOLD OVER DOLLAR FOR RESERVES, WGC SURVEY
Yahoo Finance (2025-06-17)
Seventy three central banks responded to WGC's survey, carried out between February 25 and May 20, and 76% of these expect their gold holdings to be higher in five years compared with 69% last year.
DO NOT SEE THE U.S. FED CHANGING RATES: MILLER
BNN - Liz Miller (2025-06-17)
Liz Miller, President of Summit Place Financial Advisors, joins BNN Bloomberg to discuss the markets amid uncertainty.
CHINA HOUSING DEMAND TO STAY AT 75% BELOW PEAK, GOLDMAN SAYS
Bloomberg (2025-06-17)
Chinaâs demand for new homes in cities is expected to stay at 75% below its 2017 peak in the coming years due to a shrinking population and expectations of price declines that have been hurting investment interest, according to Goldman Sachs Group Inc. âFalling
CANADIAN REAL ESTATE PRICES FALL TO LOWEST LEVEL IN 4 YEARS
Better Dwelling (2025-06-17)
According to the boardâs benchmark data, home prices have steadily fallen from the record high.
MAY HOME SALES DOWN 4.3% FROM YEAR AGO, BUT ACTIVITY UP MONTH-OVER-MONTH
Investment Executive - Sammy Hudes (2025-06-17)
Home sales rose 3.6%
CMHC SAYS ANNUAL PACE OF HOUSING STARTS IN MAY DOWN 0.2% FROM APRIL
Investment Executive (2025-06-17)
CMHC says actual housing starts in May in centres with a population of 10,000 or greater totalled 23,745, up from 21,814 in May 2024.
REACHING OUT FOR A CLEARER VIEW OF THE ECONOMY
BOC (2025-06-16)
Non-traditional data can help us see whatâs happening under the surfaceâand in a timelier way.
WHY THE FED FACES AN 'ALMOST IMPOSSIBLE CHALLENGE'
Yahoo Finance (2025-06-16)
On Wednesday, the Federal Reserve will make its decision on interest rates.
PREMIUM INSURANCE DEMAND RISES WITH GLOBAL TRAVEL DISRUPTIONS
Yahoo Finance (2025-06-16)
In the U.S.,
BANK REGULATORS CALL FOR VOLUNTARY CLIMATE DISCLOSURE AMID RESISTANCE
Investment Executive (2025-06-16)
âWeâre seeing one step forward, two steps back,â Symon said.
AN ANALYSIS OF PAYMENTS AND E-COMMERCE TRENDS
Payments Canada (2025-06-16)
E-commerce payments in Canada accounted for 546 million transactions worth 71.6
VISTA AND BLACKSTONE QUIETLY BUY ASSENT, VALUING OTTAWA COMPLIANCE SOFTWARE COMPANY AT $1.3-BILLION
G&M (2025-06-15)
U.S.
WHAT WILL THE BANK OF CANADA DO NEXT? ECONOMISTS' FORECASTS ARE ALL OVER THE PLACE
Yahoo Finance (2025-06-15)
On Thursday, RBC Economics updated its economic forecast to advise that it no longer expects any rate cuts from the Bank of Canada (BoC) in 2025, a position also taken by economists at Scotiabank.
U.S. FED EXPECTED TO KEEP RATES STEADY AS TARIFF RISKS OUTWEIGH INFLATION DATA
BNN (2025-06-15)
Trump has demanded the U.S.
THE END OF THE LONG BOND ERA
Bloomberg (2025-06-15)
Interested in bonds, this video provides a great explanation of the market: From the US to Japan, governments are having to pay investors more to get them to lend money by buying bonds.
THE FORDOW IMPERATIVE—FOR TRUMP AND ISRAEL
WSJ (2025-06-15)
Israel continues to bomb key Iranian military sites, while Iran is firing missiles at Israeli cities.
WALMART AND AMAZON ARE EXPLORING ISSUING THEIR OWN STABLECOINS
WSJ (2025-06-15)
Some of the biggest merchants are exploring how to issue or use stablecoins, potentially shifting the high volumes of cash and card transactions that they handle outside the traditional financial system and saving them billions of dollars in fees. Walmart
DECODING BNPL USERS: NECESSITY, CONVENIENCE AND RISK SIGNALS
Pymnts (2025-06-15)
Whether consumers use BNPL out of necessity because they are cash-strapped or for convenience in managing their pocketbooks depends in large part on their income.
PAYMENT HUBS OFFER BANKS A PATH TO AVERT $98.5 MILLION IN ANNUAL LOSSES
Pymnts (2025-06-15)
Modern hubs integrate comprehensive functionalities, encompassing not only payment initiation, processing, reconciliation and settlement, but also using advanced features such as built-in fraud detection with real-time transaction monitoring, robust compliance tools like know your customer (KYC) and anti-money laundering (AML) checks, and sophisticated analytics.
NEW YORK BILL WOULD PROHIBIT RETAILERS FROM REFUSING CASH PAYMENTS
Pymnts (2025-06-15)
âCash is still king for many New Yorkers who live paycheck to paycheck or who simply donât have access to credit or banking services,â Sanders said in the release.
WEALTHSIMPLE PLANS PAPERLESS CHEQUES AND UBER-LIKE DELIVERY OF CASH TO CUSTOMERS’ DOORS
G&M (2025-06-12)
Wealthsimple Technologies Inc.
WEALTHSIMPLE IS TAKING ON THE BIG BANKS - AND MIGHT JUST SURPASS THEM
G&M - Rob Carrick (2025-06-12)
Itâs too early to hand this distinction to Wealthsimple because it hasnât fully introduced all of its new banking features, some of which are gimmicky.
THE BIG GUIDE TO AUTO INSURANCE
G&M - Mariya Postelnyak (2025-06-12)
Drivers in Canada have been reeling from soaring auto insurance premiums with rising vehicle thefts, higher repair costs and even extreme weather.
A SURPRISING ANSWER TO THE QUESTION: WHICH BIG BANK HAS THE BEST MOBILE APP?
G&M - Rob Carrick (2025-06-12)
According to a new J.D.
THE BIG SIX BANKS ARE TO BLAME FOR THE LIFELESS TORONTO STOCK EXCHANGE
G&M - J. ARI PANDES AND COLIN DEACON (2025-06-12)
Globally, IPO activity is declining and the universe of public companies is shrinking.
DON'T ASSUME FURTHER RATE CUTS FROM THE BANK OF CANADA, POLOZ WARNS
Yahoo Finance - Jordan Gowling (2025-06-12)
Poloz said the deterioration in the labour market is a ârecessionary indicatorâ and he expects further layoffs as the result of tariffs in the coming months.
AUSTRALIAN REGULATOR CRACKS DOWN ON 'FINFLUENCERS' OVER UNLAWFUL FINANCIAL ADVICE
Yahoo Finance (2025-06-12)
The action was taken as part of the Global Week of Action Against Unlawful Finfluencers held last week, which saw regulators from around the world using regulatory and enforcement powers against unlawful financial influencers.
NATWEST SHIFTS SOME OPERATIONS FROM SWITZERLAND TO CUT COSTS
G&M - William Shaw and Aisha S Gani (2025-06-12)
NatWest Group Plc has begun shifting some of its wealth management operations from Switzerland to the UK as Chief Executive Officer Paul Thwaite has sought to whittle away costs across the lender. The
CANADIAN REAL ESTATE DEVELOPMENT PLANS FELL SHARPLY
Better Dwelling (2025-06-12)
All segments showed declines, but the largest pullback was in the residential sector.
FP CANADA, CPA CANADA SYNERGIZE WITH CE, EVENTS AND CREDENTIALS
Investment Executive (2025-06-12)
The collaboration with CPA Canada involves more than one-quarter million professionals.
ONTARIO’S TITLE PROTECTION REGIME REPRESENTS PROGRESS, BUT RISKS REMAIN
Investment Executive (2025-06-12)
Many investors assume that a financial advisor will provide holistic, client-focused advice.
HIPPO INSURANCE PITCHES BIG COMEBACK BY 2028, CEO EXPLAINS
Yahoo Finance (2025-06-12)
Property insurance company Hippo Holdings (HIPO) hosted its 2025 investor day on Thursday.
EFFORT TO STRIP FED OF INTEREST PAYING POWER SEEN LIKELY TO BRING UPHEAVAL TO MARKETS
Yahoo Finance (2025-06-12)
On Wednesday, Bloomberg reported that Cruz had also lobbied President Donald Trump, who has long been at odds with the Fed, as well as Republican colleagues, about his idea.
COINBASE HIRES TOP POLITICAL STRATEGIST AS CRYPTO INDUSTRY FLEXES ITS NEWFOUND POLITICAL MIGHT
Yahoo Finance (2025-06-12)
Regardless of how crypto has performed in the past, the ability for Americans to put their retirement funds â roughly $44 trillion in assets â into crypto will lead to billions of dollars in profits for the industry, if even a small portion of Americans put their assets into a
CANADIAN GOVERNMENT PURGE? PUBLIC SECTOR LOSES 21K JOBS IN A MONT
Better Dwelling (2025-06-12)
The Federal government isnât the only public employer on a firing spree.
NINE AGENTS: $1 BILLION OF ORIGINATIONS. HOW AI-POWERED PINE IS SCALING
Mortgage Logic (2025-06-12)
He explained that Pine, which has received $50 million in venture funding, is vertically integrating its mortgage business with home shopping, using the properly.ca
EU CONFIRMS FURTHER ONE-YEAR DELAY TO BANK TRADING DESK RULES
WSJ (2025-06-12)
The European Union confirmed the delay by one more year of tougher global rules for banksâ trading businesses. The
BLACKROCK SETS $400BN FUNDRAISING TARGET TO TAKE ON PRIVATE CAPITAL GIANTS
FT (2025-06-12)
BlackRock has set an ambitious $400bn fundraising target for its private investment businesses, as executives laid out a plan to almost double the market value of the worldâs largest asset manager by 2030. The
ARE MACHINES SMARTER THAN VENTURE CAPITALISTS?
FT (2025-06-12)
In an attempt to dial up the smart factor and dial down luck, many investors have resorted to technology.
WORLD’S BIGGEST AIRCRAFT OWNER SET FOR $1BN PAYOUT IN RUSSIAN PLANES CASE
FT (2025-06-12)
The worldâs biggest commercial aircraft owner AerCap is in line for a payout of more than $1bn after the High Court in London ruled insurers had to cover losses from planes stranded in Russia, one of the largest sums ever awarded by the English courts. Insurers
HOME PRICES ARE FALLING, AND CANADA IS LOSING ITS SECRET WEAPON FOR STOKING GDP GROWTH
G&M - Tim Kiladze (2025-06-11)
Steel and aluminum tariffs just doubled, oil prices have hovered near multiyear lows and Canadaâs auto sector faces an existential threat.
MATTAMY HOMES FOUNDER PETER GILGAN TO START PREFAB HOUSING FACTORY IN ONTARIO
G&M - Sean Silcoff, Rachelle Younglai (2025-06-11)
Real estate developer Peter Gilgan plans to start a home-building factory in the Toronto area, the billionaireâs second attempt to create a prefabricated homes business as the federal government looks to boost construction of new homes. Mr.
UNICREDIT CEO SAYS CHANCES OF PURSUING BANCO BPM DEAL NO MORE THAN 20%
Yahoo Finance (2025-06-11)
Speaking at a financial conference organised by Goldman Sachs in Berlin, Orcel told investors the conditions Italy set to authorise takeover using 'golden powers' it has to protect national security interests create too much uncertainty and expose the bank to huge fines if UniCredit does not comply.
PRIVATE CREDIT IN INDIA IS CLOSING DEALS — AND ITS EYES
Bloomberg - Andy Mukherjee (2025-06-11)
India is a sizzling market for private credit, though some participants are wondering if in their eagerness to close deals, investors are shutting their eyes to risks, especially the legal minefields around collateral and bankruptcy. A
CANADIAN REAL ESTATE PRICES ROSE 7X FASTER THAN WAGES SINCE 1981
Better Dwelling (2025-06-11)
The absurdity of Canadian real estate prices is really highlighted against the wage data.
MANULIFE WEALTH FEE CHANGES HIT SOME ADVISORS HARDER THAN OTHERS
Investment Executive - Jonathan Got (2025-06-11)
The fee changes impacted advisors with smaller accounts primarily, which has caused some advisors to leave Manulife.
FINTRAC FINES CREDIT UNION OVER COMPLIANCE
Investment Executive - James Langton (2025-06-11)
FINTRAC imposed an administrative monetary penalty of $116,160 on the credit union after uncovering four violations in a 2023 compliance review.
FORMER ICBK CHIEF ALLEGES CHINA’S LARGEST BANK FIRED HIM OVER EFFORTS TO COMPLY WITH CANADIAN LAWS
G&M - Rita Trichur (2025-06-10)
The CEO of the Canadian subsidiary of Chinaâs largest bank was fired after clashes with officials in Beijing over his efforts to spearhead compliance with federal regulations and laws aimed at preventing foreign interference in domestic financial institutions, according to a lawsuit. Filed
VERSABANK DIGITAL DEPOSIT RECEIPTS FOR STABLECOINS TO BE PRESENTED AT FLORIDA BANKERS ASSOCIATION ANNUAL MEETING
VersaBank - David Taylor (2025-06-10)
Mr.
YES, PARENTS NEED LIFE INSURANCE. HERE’S WHY
G&M - Erin Bury (2025-06-10)
According to a 2024 poll from my company Willful and Angus Reid, only 43 per cent of Canadian parents of minor children have life insurance. In
AUDITOR GENERAL'S REPORT ON COMPANY BEHIND ARRIVECAN TO BE RELEASED TODAY
Yahoo Finance (2025-06-10)
GC Strategies received nearly a third of the $60 million total cost of the ArriveCan project, despite being awarded contracts through non-competitive processes
OUTLOOK FOR INTEREST AND MORTGAGE RATES
BNN (2025-06-10)
The Bank of Canada made a call on interest rates this week - but the market is making its own call on rates that will affect the debt most of us pay.
CENTERBRIDGE SEEKS $1 BILLION TO HOLD CANADIAN BANK FOR LONGER
Bloomberg (2025-06-10)
Centerbridge Partners aims to raise about $1 billion to give it more time to hold its minority position in Fairstone Bank of Canada, according to people familiar with the matter. The
SCOTIABANK CALLS ITS HEAD-OFFICE STAFF BACK IN FOUR DAYS A WEEK
Bloomberg (2025-06-10)
Bank of Nova Scotia plans to call head-office employees back to the office four or more days per week starting in September, citing a push for more collaboration as it follows recent moves by other big lenders including Royal Bank of Canada and JPMorgan Chase & Co. Toronto-based
CANADIAN RENTS ARE BACK TO RISING AFTER A BRIEF DECLINE
Better Dwelling (2025-06-10)
Canadaâs rent prices are finally showing signs of softening, though progress remains minor.
BOC’S TIFF MACKLEM SAYS MANDATE SHOULD EVOLVE IN A ‘SHOCK-PRONE’ WORLD
Investment Executive - Craig Lord (2025-06-10)
Macklem said the past few years have led the Bank of Canada to scrutinize some of its metrics, like core inflation and how it responds to supply shocks in the economy.
LIVING LONGER — THE ‘FUNDAMENTAL FINANCIAL CHALLENGE’
FT - Moira O'neill (2025-06-10)
It is the âticking time bombâ of financial planning.
SENIOR FED OFFICIAL PROMISES MAJOR OVERHAUL OF US BANK REGULATION
FT - Martin Arnold (2025-06-10)
The Federal Reserveâs new financial supervision chief has promised a significant overhaul of US banking rules, vowing to address industry concerns that regulations imposed after the 2008 financial crisis are too onerous. Michelle
INTUIT OFFERS TO PAY INTEREST, PENALTIES FOR ONTARIO FAMILIES AFFECTED BY TURBOTAX SNAFU
G&M - Erica Alini (2025-06-09)
Andrew Van Vroenhoven, of Whitby, Ont.,
TRUMP’S FOREIGN-INVESTMENT TAX IS A ‘DIPLOMATIC WEAPON’ THAT PUNISHES CANADIANS
G&M - Tim Kiladze (2025-06-09)
U.S.
OTTAWA TO OVERHAUL FINANCIAL-CRIME LAWS IN NEW BORDER SECURITY BILL
G&M (2025-06-09)
The federal government is aiming to overhaul Canadaâs financial-crime laws, including new restrictions on large cash transactions to curb money laundering. A
CANADA'S MAY UNEMPLOYMENT RATE AT MULTI-YEAR HIGH
Yahoo Finance - Promit Mukherjee (2025-06-09)
This level of unemployment was last seen in September 2016 after the COVID-era unemployment numbers of 2020 and 2021 are excluded, StatsCan said.
BOE RISKS REPEAT OF BREXIT PESSIMISM AS GROWTH SIGNALS DIVERGE
G&M - Tom Rees (2025-06-09)
Bank of England rate-setters risk underestimating the strength of the UK economy by placing too much faith in downbeat business surveys over official growth data. Governor
TRUMP MEDIA IS COMING FOR BROKERAGE ACCOUNTS WITH ETF PUSH
Bloomberg - Vildana Hajric (2025-06-09)
The Trump brand has been used to hawk cryptocurrencies, Bibles, steaks and guitars.
EASING CAPITAL RULES A NEGATIVE FOR BIG U.S. BANKS
Investment Executive - James Langton (2025-06-09)
Currently, all banks have a minimum SLR requirement of 3%, the G-SIBs (including JPMorgan Chase & Co.,
CANACCORD POSTS $461M Q4 REVENUE
Investment Executive - Jonathan Got (2025-06-09)
The companyâs global wealth management operations earned $238.9
SWITZERLAND PUTS TOUGH BANKING CURBS ON UBS TO PREVENT ANOTHER CREDIT SUISSE
WSJ - Margot Patrick (2025-06-09)
Draft banking reforms proposed Friday said UBS will have to hold around $26 billion in additional equity capital and reduce its reliance on hybrid bonds that can convert to equity.
MODERNIZING HOW WE COLLECT DATA FROM INSTITUTIONS
OSFI (2025-06-09)
The Data Collection Modernization (DCM) initiative aims to improve the type of data we collect and the way we collect it.
News feed
SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED
G&M (2026-01-28)
âWe 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,â Ms.
BANK OF MONTREAL BOOSTS WEALTH MANAGEMENT BUSINESS WITH $625-MILLION BURGUNDY DEAL
G&M - Andrew Willis, Stefanie Marotta (2025-06-20)
Bank of Montreal BMO-T beefed up its wealth management business on Thursday by acquiring Burgundy Asset Management Ltd.
CMHC GIVES UP ON COMPARING HOUSING AFFORDABILITY TO 2004 LEVELS
G&M - RACHELLE YOUNGLAI (2025-06-20)
Canadaâs national housing agency says it is no longer possible to build enough homes to bring housing affordability back to 2004 levels and it will start using 2019 as a more realistic benchmark. Price
CAISSE DROPS IVANHOé CAMBRIDGE, OTéRA NAMES FROM RESTRUCTURED REAL ESTATE DIVISION
G&M - James Bradshaw (2025-06-20)
Quebecâs largest pension fund manager is rebranding its revamped real estate arm, dropping the names of subsidiaries Ivanhoé Cambridge and Otéra Capital Inc. The
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FSIM briefings and developments reports
ISRAEL’S WAR ON IRAN IS COSTING HUNDREDS OF MILLIONS OF DOLLARS A DAY
Israel’s conflict with Iran is costing the country hundreds of millions of dollars a day, according to early estimates, a price tag that could constrain Israel’s ability to conduct a lengthy war. The biggest single cost are the interceptors needed to blow up incoming Iranian missiles, which alone can amount to between tens of millions to $200 million a day, experts say. Ammunition and aircraft also add to the price tag of the war, as does the unprecedented damage to buildings. Some estimates so far say that rebuilding or repairing damage could cost Israel at least $400 million. The mounting costs add up to pressure on Israel to wrap up the war quickly. Israeli officials have said the new offensive could last for two weeks, and Israeli Prime Minister Benjamin Netanyahu has shown no indication of stopping before Israel achieves all of its goals, which include the elimination of Iran’s nuclear program and its ballistic-missile production and arsenal. But the war is expensive. “The main factor which will really determine the cost of the war will be the duration,” said Karnit Flug, a former governor of the Bank of Israel and now a senior fellow at the Jerusalem-based think tank Israel Democracy Institute. Flug said she thought Israel’s economy could sustain a short campaign. “If it is a week it is one thing,” she said. “If it is two weeks or a month it is a very different story.” Over the last few days, Iran has launched more than 400 missiles at Israel, according to the Israeli government, which require sophisticated air-defense systems to stop. More missiles usually means more interceptors. The David’s Sling system, developed jointly by Israel and the U.S., can shoot down short-to-long range missiles, drones and aircraft. It costs around $700,000 each time it is activated, assuming it uses two interceptors, normally the minimum launched, according to Yehoshua Kalisky, a senior researcher at the Tel Aviv-based Institute for National Security Studies. Arrow 3, another system being used, shields against long-range ballistic missiles that leave the earth’s atmosphere, at a cost of around $4 million per interception, Kalisky said. An older version of the Arrow, known as Arrow 2, costs around $3 million per interceptor. Other military expenditures include the cost of keeping dozens of warplanes, such as F-35 jet fighters, in the air for hours at a time some 1,000 miles away from Israeli territory. Each costs around $10,000 per hour of flight time, according to Kalisky. The cost of refueling jets, and ammunition including bombs such as JDAMs and MK84s, also must be factored in. “Per day it is much more expensive than the war in Gaza or with Hezbollah. And it all comes from the ammunition. That’s the big expense,” said Zvi Eckstein, who heads the Aaron Institute for Economic Policy at Reichman University in Israel, referring to both defensive and offensive munitions. According to an estimate by the institute, a war with Iran that lasts one month will amount to around $12 billion. Targeting of critical infrastructure has been a top concern in Israel. Two strikes on Israel’s largest oil refinery in northern Israel led to its shutdown and killed three of the refinery’s employees. Some employees who work in sensitive or critical infrastructure industries have been told in recent days not to come to work, according to Dror Litvak, CEO of ManpowerGroup Israel, which supplies over 12,000 employees in Israel to different sectors.
CREDIT CARD PAYMENT RATES DOWN, DELINQUENCIES RISING
While balances have increased, average credit card spending in March 2025 fell by 4.2% year-over-year to $1,549. Credit card utilization rates remain low, at 29% post-Covid compared to 30% pre-Covid.
BROOKFIELD’S INSURER TRIMS PRIVATE CREDIT, CITING CROWDED TRADE
Brookfield Corp.’s insurance unit has pulled back from investments in private credit as surging demand from rival bidders pushes yields down. Brookfield Wealth Solutions started to reduce its allocation to private credit six months ago, and is almost no longer investing in the asset class now, Chief Executive Officer Sachin Shah said at the Global Insurance Summit hosted by the Financial Times Wednesday in London. Demand has compressed yields, even as the underlying credit risk is the same and the covenants that protect creditors have become weaker.