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

Government can inflate its way out of debt.
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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.

Analytical information and financial information related to technogies that can change your business.

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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

NEW CONDO SALES IN THE TORONTO AREA HIT 15-YEAR LOW

G&M - Rachelle Younglai (2024-08-23)

The slowdown has imperilled the construction of homes at a time when governments are trying to spur more building in a bid to make housing more affordable.


CANADA’S PLANNED $2.4-BILLION ARTIFICIAL INTELLIGENCE INVESTMENT IS ALREADY MOSTLY OBSOLETE

G&M - Joel Blit, Jimmy Lin (2024-05-21)

From the start, Ottawa’s planned $2.4-billion


'HUGE INCREASES': ECONOMISTS SOUND ALARM OVER IMPACT OF CANADA POPULATION GROWTH ON HOUSING MARKET

Yahoo Finance - John MacFarlane (2024-05-21)

Statistics Canada labour force data show the country’s working-age population grew by 411,400 people in the first four months of 2024, a 47 per cent increase over the same period in 2023 and nearly quadruple the average for those four months from 2007 to 2022.


BRITAIN SEEKS TO REIN IN MASTERCARD AND VISA FEES ON RETAILERS

Yahoo Finance - Huw Jones (2024-05-21)

"There is currently no effective competition preventing the two biggest schemes raising prices," the PSR said.


FDIC CHAIR MARTIN GRUENBERG TO STEP DOWN AS NEW BANK RULES LOOM

Yahoo Finance - Jennifer Schonberger (2024-05-21)

Perhaps the turning point came after Senate Banking Committee Chair Sherrod Brown (D-Ohio) on Monday called on President Biden to nominate a new chair of the agency to restore the FDIC's workplace culture.


OILERS DEFEAT CANUCKS 3-2 TO END NAIL-BITING PLAYOFF SERIES

CBC - Carol Schram (2024-05-21)

With the win, Edmonton advances to the Western Conference final for the first time since 2022.


YELLEN URGES GERMAN BANKS TO BOOST COMPLIANCE WITH US SANCTIONS ON RUSSIA

Reuters - David Lawder (2024-05-21)

In an unusually direct warning, she told the executives to police sanctions compliance among their banks' foreign branches and subsidiaries and reach out to foreign correspondent banking customers to do the same, especially in high-risk jurisdictions.


PROFIT INFLATION AND MONETARY POLICY: WEIGHING THE EVIDENCE

Central Banking - Biagio Bossone (2024-05-21)

The highly celebrated Milton Friedman once famously stated that “inflation is always and everywhere a monetary phenomenon”.


RIKSBANK’S THEDéEN TO BE NEXT BASEL COMMITTEE CHAIR

Central Banking (2024-05-21)

The Swedish governor replaces Pablo Hernández de Cos, who has chaired the committee since 2019.


SWIFT OPENS API CHANNEL FOR ISO 20022 CORPORATE PAYMENT TRACKING

Finextra (2024-05-21)

The global co-operative will also help member banks offer their customers ready-made and white-labelled ISO 20022 payment tracking services by API or messaging channel, giving complete transparency on a payment’s status as well as confirmation of its receipt.


HOW THE US WILL INFLATE ITS DEBT AWAY

fsim.ca - Heresy Financial (2024-05-21)

How the US will inflate its way out of debt.


THE UNEMPLOYMENT RATE SKYROCKETS IN ALBERTA! LIVIN

fsim.ca (2024-05-21)

The Unemployment Rate Skyrockets In Alberta! Living Standards PLUMMET!


CANADIAN RENTERS NOW REQUIRED TO COLLECT FOREIGN LANDLORD’S TAXES, WITHHOLD RENT

Better Dwelling (2024-05-17)

Canadian renters are getting a rough introduction to the country’s foreign investor problem.


BANK OF CANADA WARNS OF SYSTEMIC RISK AS HEDGE FUNDS RAMP UP BORROWING TO PROFIT FROM FALLING RATES

G&M - Jameson Berkow, Mark Rendell (2024-05-17)

Brian D’Costa started getting calls from worried clients shortly after the Bank of Canada released its latest financial stability report a week ago. They


NATIONAL BANK ECONOMIST: ‘THE DEMOGRAPHIC SHOCK IS GETTING WORSE IN CANADA’

G&M - Matt Lundy (2024-05-17)

The federal government is trying to restrict migration to Canada, citing the challenge in absorbing so many newcomers over a short period.


CHINA UNVEILS BROAD RESCUE PACKAGE TO PROP UP HOUSING MARKET

Bloomberg (2024-05-17)

China announced its most forceful attempt yet to shore up the beleaguered property market, easing mortgage rules and encouraging local governments to buy unsold homes from developers for conversion into affordable housing. The


GAMESTOP, AMC SHARES RISE AFTER TWO-DAY $7 BILLION WIPEOUT

Bloomberg - Subrat Patnaik (2024-05-17)

GameStop Corp.


PBOC EARMARKS $42 BILLION FOR STATE BUYING OF UNSOLD HOMES

Bloomberg (2024-05-17)

The People’s Bank of China will establish a nationwide program to unleash 300 billion yuan ($41.5



WOULD-BE HOMEBUYERS ARE IN LIMBO AND ONLY THE BANK OF CANADA CAN FREE THEM

FP - Robert Mclister (2024-05-17)

Tens of thousands of prospective homebuyers have their fingers hovering over the “buy” button.


LAURENTIAN BANK CUTS JOBS AND ELIMINATES EQUITY RESEARCH TEAM

G&M - Stefanie Marotta (2024-05-16)

Laurentian Bank of CanadaLB-Tis cutting jobs and eliminating its equity research unit as the lender overhauls its business after a tumultuous year that saw its chief executive officer ousted. Late


BOFA NAMES NEW COUNTRY HEAD FOR CANADA, ELEVATING LONG-TIME CORPORATE BANKER

G&M - Tim Kiladze (2024-05-16)

Bank of America Corp.BAC-NBAC-N


TRUMP MEDIA STOCK RISES AGAIN, ADDING BILLIONS TO FORMER PRESIDENT’S STAKE

G&M - Matthew Goldstein (2024-05-16)

Shares of former President Donald Trump’s social media company have been on a wild ride since making their debut on Wall Street in March: soaring, crashing and then climbing again. The


WHY BANKS AND INSURERS SHOULD STILL TOP YOUR INVESTING LIST

Yahoo Finance - Marius Jongstra (2024-05-16)

After taking a knock in our sector rankings post-Silicon Valley Bank and the regional banking crisis of a year ago, this part of the stock market has consistently ranked among the top of our list since August (occupying the first or second spot in each of the past six months)


AUSTRALIA’S PENSION FUNDS PLAY HARDBALL ON ASSET MANAGEMENT FEES

Yahoo Finance - Amy Bainbridge (2024-05-16)

A survey of 11 pensions revealed they paid almost 12 basis points — or about a fifth — less than their global peers in investment costs in the year through June 2023, according to analysis firm CEM Benchmarking.


HOME SALES AND NEW HOME CONSTRUCTION BOTH DROP IN APRIL

CBC - Anis Heydari (2024-05-16)

Actual new housing construction, when not seasonally adjusted, also dropped in Toronto, Vancouver and Montreal for both multi-unit and single-detached homes compared to last year in Toronto, Vancouver and Montreal.


BUFFETT’S BERKSHIRE REVEALS $6.7 BILLION STAKE IN INSURER CHUBB

Bloomberg (2024-05-16)

Warren Buffett’s Berkshire Hathaway Inc.


EUROPE’S BANKS FIND BREAKING UP WITH RUSSIA IS HARD TO DO

Bloomberg - Steven Arons and Nicholas Comfort (2024-05-16)

Two years after Russia’s full-scale invasion of Ukraine, big European lenders continue to operate hefty, increasingly profitable units in the country despite public pledges to wind them down.


BANK OF IRELAND TO WIND DOWN BRITISH CORPORATE LENDING BUSINESS

Reuters (2024-05-16)

"By being more purposeful and strategic about what we offer in the UK we have transformed the performance of our businesses in recent years," the bank said in a statement, noting a 57% increase in underlying profitability in the UK since 2019. Bank


CANADIAN REAL ESTATE PRICES ARE MOVING SIDEWAYS & THAT’S NOT GOOD NEWS

Better Dwelling (2024-05-16)

Other than the notable horizontal trading range, the biggest standout in the chart is the peak.


CHINA’S BIGGEST BANKS LAUNCH FIRST SALES OF SPECIAL LOSS-ABSORBING DEBT

FT (2024-05-16)

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


CITI EXECUTIVE RESPONSIBLE FOR IMPLEMENTING THOUSANDS OF JOB CUTS QUITS

FT (2024-05-16)

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


FEDERAL CONSUMER FINANCIAL WATCHDOG SURVIVES SUPREME COURT SCRUTINY

WSJ - Jess Bravin (2024-05-16)

The Supreme Court on Thursday rejected a conservative-backed challenge that could have dismantled the Consumer Financial Protection Bureau, ruling that Congress had authority to insulate the agency’s funding stream from political interference.


FLORIDA AND TEXAS SHOW SIGNS OF HOME PRICES FALLING

WSJ (2024-05-16)

Gary and Karen Steppe listed a condo in Indialantic, Fla.,


COMMONS COMMITTEE TO CONSIDER LAUNCHING PROBE OF TD BANK’S ANTI-MONEY LAUNDERING VIOLATIONS

G&M - Stefanie Marotta (2024-05-15)

A House of Commons committee is considering probing failings in Toronto-Dominion Bank’s TD-T anti-money-laundering practices as U.S.


GAMESTOP, AMC SOAR AS MEME STOCK RALLY ROARS ON

G&M (2024-05-15)

“Roaring Kitty,” the online persona of Gill, shared a clip from the movie “Braveheart” at 8 p.m.


THE DEPRESSING NUMBERS OF THE VENTURE-CAPITAL SLUMP DON’T TELL THE FULL STORY

G&M - Allen Lau (2024-05-15)

Recent reports are right.


NYCB SHARES RISE ON DEAL TO SELL $5 BILLION MORTGAGE WAREHOUSE LOANS TO JPMORGAN

Yahoo Finance (2024-05-15)

NYCB has pledged to cut exposure to the commercial real estate (CRE) sector, its core business, which has been roiled by higher borrowing costs and lower occupancy, to around $30 billion from nearly $47 billion at the end of March.


BNP PARIBAS BOND DESKS ARE NO LONGER DOING OIL AND GAS DEALS

Yahoo Finance (2024-05-15)

BNP is no longer participating in conventional bond issuance for the sector, according to clarifications provided by the bank in connection with its annual general meeting on Tuesday.


COULD TRUMP TAKE OVER THE FED? IT’S A SCARY THOUGHT

Bloomberg - Bill Dudley (2024-05-15)

The prospect of Donald Trump returning to the US presidency is generating concerned speculation: What if he exerts more control over the Federal Reserve, undermining the independence that has been crucial to containing inflation and to keeping the world’s largest economy on an even keel? It wouldn’t be easy.


CONSERVATIVES CRUSH TRUDEAU AT FUNDRAISING, WITH BACKING FROM BUSINESS LEADERS

Bloomberg (2024-05-15)

The Conservatives have raised C$2.45


HEDGE FUNDS SELL FINANCIALS AS ECONOMIC OUTLOOK SOURS, GOLDMAN SAYS

Bloomberg - Natalia Kniazhevich (2024-05-15)

Hedge funds ramped up their selling of financial stocks as US economic growth shows signs of weakness and the sector approaches a key technical level. Despite


BIG-NAME FUNDS PILE INTO REAL ESTATE DEBT AS BANKS RETREAT

Reuters - Iain Withers (2024-05-15)

Some of the world's largest investors are making deeper inroads into lending to commercial property, as they snap up market share from retreating banks and bet on an end to the sharp drops in real estate prices. U.S.


TD, RBC DATA POINT TO SLOWING HOUSEHOLD SPENDING IN CANADA

FP - Jay Zhao-Murray (2024-05-15)

Retail spending per person has been falling for almost two years, but a big wave of newcomers helped keep overall sales growing until recently.


U.S. BANKS FACE NEGATIVE LOAN GROWTH IN Q1: S&P

Investment Executive - James Langton (2024-05-15)

“Banks reduced credit card loans by US$35.7


HOW ONTARIO’S PLANNED BAN ON FINANCING TOOL WILL DRIVE UP NEW HOME PRICES

G&M - Gary Schwartz (2024-05-14)

Ontario Premier Doug Ford has pledged to build 1.5


CI FINANCIAL CEO SAYS HE IS COMFORTABLE WITH CURRENT DEBT LEVELS

G&M - Clare O'Hara, David Milsead (2024-05-14)

CI Financial Corp.


BILLIONAIRE BUSINESSMAN ARTHUR IRVING DEAD AT 93

CBC - Jacques Poitras (2024-05-14)

Forbes Magazine estimated Arthur Irving's wealth at $6.4


CANADA SHOULD BOOST MORTGAGES WITH LONGER TERMS, DESJARDINS SAYS

Yahoo Finance - Erik Hertzberg (2024-05-14)

Canada’s mortgage market is dominated by shorter-term duration contracts that roll over after five years or less.


RBC TAPS STOPNIK TO LEAD REVAMPED GLOBAL INVESTMENT-BANKING UNIT

Bloomberg - Christine Dobby (2024-05-14)

Royal Bank of Canada has adopted a global structure for its investment-banking business and tapped Matthew Stopnik to head up the division. Stopnik,



MACRON WON'T RULE OUT ALLOWING SALE OF FRENCH BANKS TO EUROPEAN RIVALS

Reuters (2024-05-14)

French President Emmanuel Macron believes Europe's banking sector needs greater consolidation, even if that means a major French bank being bought by a European rival, he said in a TV interview with Bloomberg on Monday. Macron


RBC POISED TO OUTPERFORM RIVALS THANKS TO HSBC DEAL, SAY ANALYSTS

FP - Barbara Schecter (2024-05-14)

Exposure to more fee-based revenue from the acquisition of HSBC’s Canadian franchise is likely to boost Royal Bank of Canada’s performance relative to other domestic banks when they begin releasing second-quarter earnings next week, according to analysts at Jeffries Securities Inc. “We


TWO SIDES OF THE INSURANCE SALES DEBATE

Investment Executive - Allan Janssen (2024-05-14)

“‘Holistic’ should really mean essential financial security,” Ruta said.


ARCHEGOS' HWANG LIED TO BECOME WALL STREET LEGEND, PROSECUTORS SAY AS TRIAL BEGINS

Reuters - Jody Godoy (2024-05-14)

Sung Kook "Bill" Hwang tried to trick all of Wall Street, a federal prosecutor told a Manhattan federal jury, as his trial on charges stemming from the 2021 collapse of Hwang's $36 billion fund Archegos Capital Management began on Monday. Prosecutors


THE INSIDE STORY OF CHIME, AMERICA’S BIGGEST DIGITAL BANK

Forbes - JEFF KAUFLINF (2024-05-14)

“The people on direct deposit were clearly the whales of the business,” says Britt, 51, the cofounder and CEO of Chime, the nation’s largest digital-only bank with $1.5


CLIMATE SCORPION: THE STING IS IN THE TAIL - INTRODUCING PLANETARY INSOLVENCY

Finextra (2024-05-14)

Sandy Trust, Head of Organisational Risk at M&G, and Lucy Saye, Actuarial Manager at Deloitte, and previous chair at the IFoA Sustainability Board, present the 'Climate Scorpion' report.


'NEOBANK IN A BOX' STARTUP FINTECH FARM RAISES $32 MILLION

Finextra (2024-05-13)

Fintech Farm’s first project, Leobank, was launched in 2021.


SHOPIFY EXECUTIVE EARNED US$76-MILLION IN 2023, FAR OUTPACING CEO’S COMPENSATION

G&M - David Milstead (2024-05-13)

The best-paid Shopify Inc.



CUSTOMER WHO FILED COMPLAINT AGAINST TD BANK REFUSES TO SIGN GAG ORDER TO GET COMPENSATION

CBC - Erica Johnson, Kimberly Ivany (2024-05-13)

Guanghu Cui was poring over his TD Bank statements in March, preparing to pay taxes for his small immigration consulting firm in Oakville, Ont.,


STRONG WALMART EARNINGS MAY ALREADY BE PRICED IN WITH SHARES NEAR RECORD

Yahoo Finance - Siddharth Cavale and Noel Randewich (2024-05-13)

Walmart's stock has climbed 15% so far in 2024, better than the S&P 500's 9% rise, increasing pressure on the company to provide strong results.


GOLDMAN STRATEGISTS SAY LOSS-MAKING US COMPANIES FACE RATES RISK

Yahoo Finance - Sagarika Jaisinghani (2024-05-13)

Riskier US stocks have underperformed the S&P 500 Index this year as sticky inflation raised concerns of higher-for-longer interest rates.


SUN LIFE SHARES SLUMP WITH U.S. DENTAL BIZ RECOVERING ONLY IN 2025

Reuters - Nivedita Balu (2024-05-13)

Shares of Sun Life Financial (SLF.TO),


HOW TD'S MONEY-LAUNDERING CRISIS IS MAKING ITS SUCCESSION DILEMMA ‘MESSY AND COMPLICATED’

FP - Barbara Shecter (2024-05-13)

Succession talk had been in the air even before TD disclosed last August that its anti-money-laundering controls were being probed by authorities in the United States, including the U.S.


BANK OF CANADA SAYS NATION'S RENTERS SHOWING SIGNS OF FINANCIAL STRAIN

FP (2024-05-13)

Senior deputy governor Carolyn Rogers, who has previously raised concerns about renters, said the data compiled suggests there is stress in these households. “After


IA FINANCIAL POSTS NET INCOME OF $233 MILLION IN Q1

Investment Executive - Jonathan Got (2024-05-13)

iA Financial had $229.3


SUN LIFE POSTS FIRST-QUARTER NET INCOME OF $875 MILLION

Investment Executive - Jonathan Got (2024-05-13)

The Canadian division was down about 2% to a net income of $310 million, as increased death payouts offset gains in business growth.


MORTGAGE INSURER CAPITAL ADEQUACY TEST - FILING INSTRUCTIONS

OSFI (2024-05-13)

All federally regulated mortgage insurance companies are required to complete a uniform Mortgage Insurer Capital Adequacy Test (MICAT) return each quarter.


FINTRAC FINES CRYPTO FIRM BINANCE $6-MILLION OVER ANTI-MONEY LAUNDERING SHORTFALLS

G&M - Alexandra Posadzki (2024-05-10)

Canada’s anti-money-laundering agency has imposed a $6-million penalty on the world’s largest cryptocurrency exchange, Binance Holdings Ltd.,


SUN LIFE’S FIRST-QUARTER PROFIT FALLS ON HIT FROM HIGHER MORBIDITY CLAIMS

G&M (2024-05-10)

Sun Life Financial reported a fall in first-quarter profit on Thursday, hurt by higher morbidity claims. The


BROOKFIELD ASSET MANAGEMENT SEES FIRST-QUARTER PROFIT DROP, PREPARES TO RAMP UP DEAL-MAKING

G&M - James Bradshaw (2024-05-10)

Brookfield Asset Management Ltd.BAM-TBAM-T


SHOPIFY SHARES SINK AS COMPANY POSTS Q1 LOSS, FORECASTS SLOWER REVENUE GROWTH

CP24 (2024-05-10)

The e-commerce software company, which keeps its books in U.S.


BANK OF CANADA SAYS DEBT, ASSET VALUATIONS ARE KEY RISKS TO STABILITY

Yahoo Finance - David Lyjunggren (2024-05-10)

Over the last year, the share of borrowers without a mortgage who carry a credit card balance of at least 80% of their credit limit - people seen as significantly likely to miss a future debt payment - has edged up and is now at 23%.


BFF BANK SHARES SLUMP 32% AMID BANK OF ITALY PROBE

Yahoo Finance - Sonia Sirletti and Tiago Ramos Alfaro (2024-05-10)

BFF Bank’s senior preferred bond due March 2029 is indicated at 91.7


ADVOCATES HOPEFUL BUT WARY OF BANKS' PLEDGE TO STOP ABUSIVE E-TRANSFERS

CBC - Katie Nicholson, Victoria Stunt, Tess Ha (2024-05-10)

One solution suggested in the letter is an AI-based program developed by the Commonwealth Bank in Australia and made free for all other banks worldwide.


UBS MULLS BONUS FOR INVESTMENT BANKERS WHO LURE RICH CLIENTS

Bloomberg - Chanyaporn Chanjaroen (2024-05-10)

UBS Group AG is considering introducing a reward system for investment bankers who refer clients to the firm’s wealth management business, according to people with knowledge of the matter. Some


DISTRUST IN FDIC LEADERSHIP DRIVES MORE STAFF TO CONSIDER EXITS, DATA SHOWS

Reuters - Douglas Gillison (2024-05-10)

Staff trust in the Federal Deposit Insurance Corporation's leadership has fallen sharply to well below government averages, with a growing number of workers considering leaving the agency, the latest FDIC staff survey data obtained by Reuters shows. In


US 30-YEAR FIXED-RATE MORTGAGE FALLS TO 7.09%, STILL TOO HIGH TO BOOST HOUSING

Reuters (2024-05-10)

The average rate on the 15-year fixed-rate mortgage fell to 6.38%


CANADA'S JOB MARKET COULD BE IN WORSE SHAPE THAN WE THOUGHT

FP (2024-05-10)

Last month we got a surprise.


TORONTO OFFICE SPACE HITS RECORD VACANCY RATE, AVAILABILITY SURGES DOWNTOWN

Better Dwelling (2024-05-10)

It’s not just a suburban issue either, with Downtown Toronto seeing the issue intensify even faster.


BANKS ‘HAVE TO GET BETTER’ AT SOLVING MONEY LAUNDERING, SAYS OSFI HEAD

G&M - Stefanie Marotta (2024-05-09)

The head of Canada’s banking regulator is comfortable with the ability of the country’s largest banks to curb money laundering crimes, but says that there is room for improvement. The



MANULIFE’S FIRST-QUARTER PROFIT RISES ON ASIA UNIT STRENGTH

G&M (2024-05-09)

Total investment income at Manulife came in at $4.79-billion


BOE IS SENDING RIPPLES THROUGH MONEY MARKETS WITH AGGRESSIVE BOND SALES

Yahoo Finance (2024-05-09)

Analysts have warned the central bank will need to halt its weekly bond sales later in the year, or risk undermining future efforts to loosen borrowing conditions.


MORNING BID: BANK OF ENGLAND TO TEST CUT ASSUMPTIONS

Yahoo Finance (2024-05-09)

Academic Swati Dhingra already voted for a cut in March and some figure on Deputy Governor Dave Ramsden joining her this month.


'SERIOUSLY UNDERWATER' HOME MORTGAGES TICK UP ACROSS THE US

Yahoo Finance (2024-05-09)

Nationally, 2.7%


FED'S COMMUNICATIONS STYLE SCORES WELL WITH ANALYSTS BUT NOT PUBLIC

Reuters - Howard Schneider (2024-05-09)

Responses from 31 academic and 24 private Fed watchers to questions posed by the Brookings Institution's Hutchins Center on Fiscal and Monetary Policy gave the U.S.


SPANISH GOVERNMENT OPPOSES BBVA'S $13 BLN SABADELL BID

Reuters (2024-05-09)

Under Spanish law, the Economy Ministry has the last word in approving any merger or acquisition of a bank.


CANADA AMONG NATIONS FIGHTING RISING RENT IN GLOBAL INFLATION BATTLE

FP (2024-05-09)

The upshot: The disinflation momentum seen through most of last year has all but stalled in some developed economies.


BUBBLE CONTAGION? EASTERN CANADA HOME PRICES RETAIN THE FROTHIEST GROWTH

Better Dwelling (2024-05-09)

First let’s get some market context by looking at the national composite benchmark.


CANADA HEADED FOR A HYBRID OPEN-BANKING REGIME

Investment Executive (2024-05-09)

Canada could be headed to a hybrid open-banking model where industry pursues market-driven objectives under parameters set by the government, said Saba Shariff, head of new product development and corporate strategy with Symcor, a payment processing company based in Mississauga, Ont.


THE FINANCE CURSE

RT.com - Video on financial system (2024-05-09)

For many years, we’ve been told that finance is good and more finance is better.


TD BANK’S SHARE PRICE FALLS 5.8% AS ANALYST WARNS OF POTENTIAL HIGHER FINES FROM U.S. MONEY-LAUNDERING PROBE

G&M - CHRISTINA PELLEGRINI, JAMES BRADSHAW, TIM KILADZE and JACQUELINE NELSON (2024-05-08)

As TD’s share price fell on Friday, declining by more than 6 per cent at its lowest point in trading on the Toronto Stock Exchange, shares in its four largest Canadian peers – RBC, Bank of Montreal, Bank of Nova Scotia and Canadian Imperial Bank of Commerce – were modestly


SPAIN’S CENTRAL BANK MAY BE LED BY A WOMAN FOR THE FIRST TIME

Yahoo Finance - Jorge Valero and Jorge Zuloaga (2024-05-08)

Whoever takes charge will do so just as the ECB starts undoing the spate of rate hikes it deployed to quell inflation after Russia attacked Ukraine.


RIKSBANK KICKS OFF EASING WITH FIRST SWEDISH RATE CUT SINCE 2016

Bloomberg - Niclas Rolander (2024-05-08)

The Riksbank cut its benchmark interest rate for the first time in eight years, acting before the neighboring euro zone in a bid to offer respite to Sweden’s recession-stricken economy. The


TRUMP JUDGE INDEFINITELY POSTPONES DOCUMENTS CASE TRIAL

Bloomberg - Chris Strohm (2024-05-08)

Donald Trump’s criminal trial for allegedly mishandling classified documents has been postponed indefinitely in a blow to the Justice Department’s efforts to obtain a jury verdict before November’s presidential election. US


JPMORGAN SEES GAIN OF ABOUT $8 BILLION FROM VISA EXCHANGE OFFER

Bloomberg - David Scheer (2024-05-08)

JPMorgan Chase & Co.


US PROBE FINDS WIDESPREAD SEXUAL MISCONDUCT AT FDIC

Reuters - Douglas Gillison and Pete Schroeder (2024-05-08)

Overall, the report by law firm Cleary Gottlieb, opens new tab paints a picture of an agency at which sexual harassment, racial discrimination and bullying were pervasive at every level and tolerated by senior leaders for years, while complaints about misconduct were met with retaliation. "For


GENERATIVE AI IS TAKING OVER CUSTOMER SERVICE — AND IT'S WORKING

FP - Kelsey Rolfe (2024-05-08)

The first few months of the year are particularly busy for Wealthsimple Inc.‘s


TANKING ECONOMY, PRODUCTIVITY MEAN BANK OF CANADA SHOULD CUT RATES WITH OR WITHOUT THE FED

FP - David Rosenberg (2024-05-08)

We find it rather incredible that the Bank of Canada is so nonchalant when it comes to the state of the Canadian economy.


WARREN BUFFETT EYES CANADIAN INVESTMENT AS CASH PILE HITS FRESH RECORD

FP - Sally Bakewell (2024-05-08)

The company’s hoard increased to US$189 billion at the end of the first quarter, topping the record it set at year-end.


CANADIAN BUSINESS INSOLVENCIES SURGED 87% HIGHER IN Q1

Better Dwelling (2024-05-08)

Canada has seen a big uptick in the number of filings over the past year.


TD BANK FACES MOUNTING CALLS FOR EXECUTIVE CHANGE

G&M - Stefanie Marotta (2024-05-07)

Toronto-Dominion Bank TD-T is under escalating pressure to shake up its leadership in response to emerging details about its anti-money-laundering gaps that prompted a probe from U.S.


PROPERTY INSURER INTACT ROLLS OUT PILOT PROJECT TO FIREPROOF HOMES WHEN WILDFIRES ARE NEAR

G&M - Clare O'Hara (2024-05-07)

“Last year, the wildfire season in Alberta and British Columbia was very intense, and the very warm and dry winter we had this year is conducive to what could be another challenging wildfire season,” Intact senior vice-president of personal lines Guillaume Lamy said in an interview. “We


MONTREAL HOME SALES JUMPED 25.5% IN APRIL AS EXPECTED RATE CUTS PROMPT RECOVERY, REAL ESTATE BOARD SAYS

G&M (2024-05-07)

The median price for all housing types was up year-over-year, led by a 6.5


WEALTHSIMPLE EXPERIENCING MASSIVE GROWTH AFTER TWO QUARTERS OF RECORD ASSET GAINS

G&M - Sean Silcoff, Clare O'Hara (2024-05-07)

Two years after its growth stalled, bank challenger Wealthsimple Technologies Inc.


CANADA POST LOST $748 MILLION LAST YEAR, WARNS OF 'CRITICAL' FINANCIAL SITUATION

CBC (2024-05-07)

Canada Post has been losing money since 2018.


UBS IS ADDING $20 BILLION IN CAPITAL EVEN BEFORE SWISS REFORMS

Bloomberg - Myriam Balezou and Nicholas Comfort (2024-05-07)

UBS Group AG is already adding almost $20 billion in capital to its regulatory reserves as it integrates Credit Suisse’s business, Chief Executive Officer Sergio Ermotti said, regardless of the Swiss government’s plans to increase requirements from next year. “Fully


FOR CLUES ON WHY THE BOE HASN’T CUT RATES, JUST HEAD TO THE PUB

Bloomberg (2024-05-07)

Prime Minister Rishi Sunak has rarely missed a chance to take credit for bringing UK inflation down to 3.2%.



CMHC BEATS TARGETS FOR NEW HOMES IN 2023, DESPITE ECONOMIC CHALLENGES

FP - Shantaé Campbell (2024-05-07)

The Crown corporation, charged with administering the country’s national housing programs, released its annual report on Monday, revealing its progress in meeting the mandates of the NHS — a 10-year plan launched in 2017.


TD MAY FACE US$2 BILLION MONEY LAUNDERING FINE, THIRD-LARGEST EVER: ANALYSTS

Better Dwelling (2024-05-07)

Aiken believes the extent of the issue may cost a lot more.


OSC TO INCREASE FOCUS ON DIY INVESTORS

Investment Executive - James Langton (2024-05-07)

He added that advice given at bank branches must be “more proficient and [have] more components of financial planning brought to bear,” and be accessible to people “even if they’re not wealthy and receiving the highest level of fiduciary advice.”


CAPITAL MARKETS REBOUND OFFSETS U.S. BANKS’ WEAKNESS

Investment Executive (2024-05-07)

“We still expect modest total loan growth in 2024, presuming there is greater clarity around the path of interest rates and regulatory capital requirements,” it said.



FTX FILES AMENDED REORGANIZATION PLAN, EXPECTS $14.5 BILLION-$16.3 BILLION FOR DISTRIBUTION

Yahoo Finance (2024-05-07)

The plan put forward by FTX creates a "convenience class" for creditors with claims of $50,000 or lower, under which it anticipates that majority of the creditors will receive about 118% of the amount of their claims within 2 months if approved by the court.


FITCH DOWNGRADES NEW YORK COMMUNITY BANCORP TO 'BB' ON NEAR-TERM EARNINGS PRESSURE

Yahoo Finance (2024-05-07)

Last week, NYCB reported a first-quarter loss of $327 million, or 45 cents per share, as the lender set aside higher provision for credit losses due to its exposure to the beleaguered commercial real estate sector.


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NEW CONDO SALES IN THE TORONTO AREA HIT 15-YEAR LOW

G&M - Rachelle Younglai (2024-08-23)

The slowdown has imperilled the construction of homes at a time when governments are trying to spur more building in a bid to make housing more affordable.


CANADA’S PLANNED $2.4-BILLION ARTIFICIAL INTELLIGENCE INVESTMENT IS ALREADY MOSTLY OBSOLETE

G&M - Joel Blit, Jimmy Lin (2024-05-21)

From the start, Ottawa’s planned $2.4-billion


'HUGE INCREASES': ECONOMISTS SOUND ALARM OVER IMPACT OF CANADA POPULATION GROWTH ON HOUSING MARKET

Yahoo Finance - John MacFarlane (2024-05-21)

Statistics Canada labour force data show the country’s working-age population grew by 411,400 people in the first four months of 2024, a 47 per cent increase over the same period in 2023 and nearly quadruple the average for those four months from 2007 to 2022.


BRITAIN SEEKS TO REIN IN MASTERCARD AND VISA FEES ON RETAILERS

Yahoo Finance - Huw Jones (2024-05-21)

"There is currently no effective competition preventing the two biggest schemes raising prices," the PSR said.


FSIM briefings and developments reports



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THE UNEMPLOYMENT RATE SKYROCKETS IN ALBERTA! LIVIN

The Unemployment Rate Skyrockets In Alberta! Living Standards PLUMMET!


HOW THE US WILL INFLATE ITS DEBT AWAY

How the US will inflate its way out of debt.


SWIFT OPENS API CHANNEL FOR ISO 20022 CORPORATE PAYMENT TRACKING

The global co-operative will also help member banks offer their customers ready-made and white-labelled ISO 20022 payment tracking services by API or messaging channel, giving complete transparency on a payment’s status as well as confirmation of its receipt.



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All amounts in millions of dollars