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
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Latest news and events for Canadian financial service companies, analytics, fintech and AI. BankNews.TV provide the latest technology news and reports for banks and insurance companies looking to compete in a rapidly changing market.
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Research
Part 2: The Merchant Loyalty Industrial Complex Collapse
fsim.ca/docs/Credit_cards_Part_2v4.pdf
Mark Sibthorpe
Since November 2, 2021, Loyalty Ventures Inc.'s (Airmiles) market cap has decreased from $861.42M to $2.11M, a decrease of -99.75%. This compares closely to 2018, when Aimia sold Aeroplan back to Air Canada and partners TD and CIBC for $238 million. For reference, in 2005 Aeroplan launched an IPO valuing it at $2 billion. Related to Aimia’s downfall, it had also previously sold the UK Nectar program to Sainsburys for $120 million, $580 million lower than it paid for Nectar in 2007.
This report digs under the surface and uncovers why loyalty is going the way of the dodo.
Merchants should not waste time fighting card networks
fsim.ca/docs/Card_fees_ongoing.pdf
Mark Sibthorpe
This is part one of a two part assessment of merchant frustration due to high credit card fees. The second part of this report will outline an alternative approach that merchants can consider. An approach that is a win for them and also for the card networks.
The full story of SVB March 12th, 2023
fsim.ca/docs/SVB_special_report2.pdf
Mark Sibthorpe
Aggregated news and research related to SVB. Apart from SVB, included in this report is related news with respect to other banks and non-traditional companies looking to add financial services that also appear risky.
March 2023 bank earnings summary
fsim.ca/docs/bankearningsfriday.pdf
Mark Sibthorpe
This report provides a snapshot into recent bank earnings and related news as published in fsim.ca reports.
Real estate report: October 30th, 2020
fsim.ca/docs/Oct30rereportv1.pdf
Mark Sibthorpe
The big buzz in real estate recently is Mark Carney being scooped up by Brookfield. This means more juice for riskier borrowers. Brookfield, a huge player in real estate, both residential and commercial, recently bought its remaining shares from Sagen (Genworth MI Canada), which values the company at $3.8 bn.
VersaBank’s New High-Security VPN Proving Especially Valuable During COVID-19 Pandemic
fsim.ca/docs/TailscaleReleaseMarch30FINAL.pdf
Press Release
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.
REGISTER FOR OSFI’S SECOND QUARTERLY RELEASE INDUSTRY DAY
OSFI (2024-11-08)
Come join the Office of the Superintendent of Financial Institutions (OSFI) for our second quarterly release industry day! We are continuing to pilot a new approach to the way we release regulatory guidance.
A TRUMP ELECTION WIN COULD GIVE A BOOST TO CANADA’S LARGEST FINANCIAL INSTITUTIONS, ANALYSTS SAY
G&M - Stefanie Marotta, Claire O'Hara (2024-11-06)
Canadian banks and insurers with businesses in the United States can expect two very different possible scenarios after next weekâs U.S.
TRUMP CLAIMS VICTORY IN U.S. PRESIDENTIAL ELECTION
CTV (2024-11-06)
In a speech to his supporters gathered at his campaign headquarters in Florida, Donald Trump claimed victory in the U.S.
TRUMP DEFEATS HARRIS, MARKING HISTORIC COMEBACK
WSJ (2024-11-06)
Republican Donald Trump leveraged anxieties about the cost of living and illegal immigration to defeat Democratic Vice President Kamala Harris, reclaiming the White House in a victory certain to alter Americaâs priorities and economic relationship with the world. Trump,
CANADA’S BIG BANKS ARE PROVIDING LITTLE INFORMATION ABOUT BLACK ENTREPRENEURSHIP LOAN PROGRAMS
G&M (2024-11-06)
Most of Canadaâs major banks continue to lack transparency regarding their loan programs aimed at supporting and removing barriers for Black entrepreneurs, The Globe and Mail has found. The
RELAXED MORTGAGE RULES WILL COST HOMEBUYERS IN THE LONG RUN, BOC SENIOR DEPUTY WARNS
G&M - RACHELLE YOUNGLAI (2024-11-06)
A top Bank of Canada official says thereâs âno free lunchâ with the countryâs new easier lending rules and is warning policy makers against relying on the mortgage market to fix housing affordability problems. Under
TRUMP'S VICTORY SPARKS CONCERNS OVER RIPPLE EFFECT ON CANADIAN ECONOMY
G&M (2024-11-06)
Some Canadian business leaders have expressed uneasiness over Trump's promise to introduce a universal 10 per cent tariff on all American imports.
3 REASONS BANK STOCKS SOARED AFTER TRUMP'S REELECTION
Yahoo Finance (2024-11-06)
Konrad says, "There's three main factors, all kind of surrounding deregulation to some extent," that sent bank stocks higher: less antitrust regulation leading to more mergers, lower capital constraints, and less pressure from the Consumer Financial Protection Bureau (CFPB) on consumer fees.
TORONTO REAL ESTATE PRICES ROLL BACK TO 2021 LEVELS, NEAR TECHNICAL “CRASH”
Better Dwelling (2024-11-06)
Greater Toronto real estate prices have officially rolled back to where they were 3 years ago.
BANK OF ENGLAND TO STAY CAUTIOUS AS IT LOWERS RATES, U.K. RESEARCH INSTITUTE SAYS
WSJ (2024-11-06)
The Bank of England is likely to lower its key interest rate on Thursday and at three further meetings next year before inflation settles at the central bankâs target, the National Institute of Economic and Social Research said Wednesday. In
BANK OF CANADA WARNS OF ‘TINKERING’ WITH MORTGAGE RULES
BNN (2024-11-06)
Longer amortizations and reduced debt payments increase return for lenders, Rogers said, but they add to risks for both lenders and borrowers.
GOLD AND COPPER PLUNGE AS TRUMP’S DECISIVE WIN DRIVES UP DOLLAR
BNN (2024-11-06)
The selloff in gold is âa combination of the fact that positioning is rather heavy, and stronger yields and the US dollar,â said Nicky Shiels, head of metals strategy at Geneva-based MKS PAMP SA.
TRUMP TO RESHAPE US ECONOMY WITH TARIFFS, CRACKDOWN ON MIGRANTS
Bloomberg (2024-11-06)
Donald Trump is returning to the White House, and the US economy is in for a wild ride. The
WHAT A REELECTED TRUMP CAN AND CAN’T DO TO SWAY THE FED
Bloomberg (2024-11-06)
Donald Trumpâs reelection to the US presidency has raised questions about whether he will seek to limit the Federal Reserveâs independence, given his contentious history with the central bank. During
RBNZ SAYS TRUMP POLICIES PRESENT ‘HIGHER INFLATION PACKAGE’
Bloomberg (2024-11-06)
Central banks globally should anticipate extra challenges as Donald Trump returns to the White House, Reserve Bank of New Zealand officials said. âHe
STRESS TESTS PROVE THEIR WORTH: BOC RESEARCH
Investment Executive (2024-11-06)
âThe 2018 mortgage stress tests â a policy implemented for uninsured mortgages â improved credit quality across the entire mortgage portfolio, as intended.
WHY ARE CANADIAN EQUITY FUND MANAGERS UNDERPERFORMING THE MORNINGSTAR CANADA INDEX?
Investment Executive (2024-11-06)
âWhat we find here is consistent with what weâve found in other markets,â said Michael Dobson, manager, research analyst with Morningstar Canada, in an interview with Investment Executive.
OSC REVIEWS FUNDS’ RISK RATINGS, ETF REGULATION
Investment Executive (2024-11-06)
The methodology that funds are required to use to devise their risk ratings allows fund managers to use their discretion to classify a mutual fund at a higher risk level than its standard deviation alone would imply, âif it is reasonable⦠in the circumstances.â
JPMORGAN CEO DIMON TO REMAIN AT BANK AND HAS NO PLANS TO JOIN TRUMP ADMINISTRATION, SOURCE SAYS
Reuters (2024-11-06)
Dimon, 68, has been the subject of repeated speculation in recent weeks as a candidate for Treasury secretary by both Republicans and Democrats, but he said last month that his chances of taking an official post were "almost nil".
CORUS BONDHOLDERS, FACING STEEP LOSSES ON LOANS, FIGHT FOR CONTROL OF MEDIA COMPANY
G&M - Andrew Willis (2024-11-05)
Unsecured lenders to Corus Entertainment Inc.
BANK OF CANADA HAD ‘STRONG CONSENSUS’ FOR OCTOBER’S HALF-POINT RATE CUT
G&M - Mark Rendell (2024-11-05)
Top officials at the Bank of Canada were in broad agreement last month that the central bank needed to accelerate the pace of interest-rate cuts with inflation back under control, according to a summary of the discussions that took place ahead of the latest monetary policy decision. On
BANK OF CANADA MEMBERS DO NOT SEE NEED FOR INTEREST RATE TO BE AS RESTRICTIVE, MINUTES SHOW
Yahoo Finance (2024-11-05)
The members of the rate-setting committee, however, discussed the merits of a 25 basis point cut but saw a strong consensus among them for the larger step, the summary of deliberations said.
INFLATION IS DOWN, WAGES ARE UP. WHY ARE CANADIANS STILL FRUSTRATED WITH THE ECONOMY?
BNN (2024-11-05)
Christopher Ragan, an associate professor of economics at McGill University, says itâs not surprising that Conservative Leader Pierre Poilievreâs more pessimistic message about the economy has resonated with Canadians over the optimism the Liberals have been trying to project.
SPIKE IN UK BORROWING COSTS WIPES OUT REEVES’ FISCAL HEADROOM
Bloomberg (2024-11-05)
The increase in UK borrowing costs since last weekâs budget has wiped out all of Chancellor of the Exchequer Rachel Reevesâ headroom against her main fiscal rule, raising the prospect of further tax rises or spending cuts unless the debt picture changes. Tom
CANADIAN & AMERICAN BOND YIELDS FORM WIDEST GAP SINCE ASIAN FINANCIAL CRISIS: NBF
Better Dwelling (2024-11-05)
â⦠this unusual development supports a significant divergence in monetary policy, now reflected in the widest spreads on 2-year Treasury yields between Canada and the U.S.
WELLS FARGO HAS TRIPLED POLITICAL SPENDING WITH STATE GROUPS OVER PAST DECADE
Reuters (2024-11-05)
Over the past decade, Wells Fargo (WFC.N),
TORONTO HOME SALES CLIMBED 14% IN OCTOBER AS HOMEBUYERS JUMPED BACK INTO THE MARKET
G&M - RACHELLE YOUNGLAI (2024-11-05)
Torontoâs home sales climbed 14 per cent in October, the steepest monthly increase in nearly a year, as prospective homebuyers jumped back into the market after multiple interest-rate cuts. There
FEDERAL RESERVE SET TO CUT RATES AGAIN WHILE FACING A HAZY POST-ELECTION OUTLOOK
G&M (2024-11-04)
No one knows how Tuesdayâs presidential election will turn out, but the Federal Reserveâs move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year. The
WALL STREET FRENZY CREATES $11BN DEBT MARKET FOR AI GROUPS BUYING NVIDIA CHIPS
FT (2024-11-04)
Wall Streetâs largest financial institutions have loaned more than $11bn to a niche group of tech companies based on their possession of the worldâs hottest commodity: Nvidiaâs artificial intelligence chips. Blackstone,
US ‘BUY NOW, PAY LATER’ GROUP AFFIRM LAUNCHES IN UK
FT (2024-11-04)
Please use the sharing tools found via the share button at the top or side of articles.
BCE SHARES DROP 9% AFTER PAYING $5-BILLION FOR U.S. INTERNET PROVIDER ZIPLY AND PAUSING DIVIDEND HIKES
G&M - ANDREW WILLIS, TIM KILADZE AND IRENE GALEA (2024-11-04)
Bell Canada parent BCE Inc.
OTTAWA DRAFT RULES CAP EMISSIONS FROM OIL AND GAS SECTOR TO 35% BELOW 2019 LEVELS
G&M - EMMA GRANEY (2024-11-04)
Alberta has vowed it will fight new federal draft regulations released Monday that will cap greenhouse gas emissions from Canadaâs oil and gas sector to 35 per cent below 2019 levels. The
BANK OF CANADA NEUTRAL RATE COULD BE 2.75%, SURVEY FINDS
Yahoo Finance (2024-11-04)
The quarterly survey was conducted Sept.
CMHC SAYS MORTGAGE RISKS REMAIN AS DELINQUENCIES CREEP UP, ALTERNATIVE LENDING GROWS
Yahoo Finance (2024-11-04)
Mortgages more than 90 days past due made up 0.19
SUN LIFE FINANCIAL SEES THIRD-QUARTER EARNINGS RISE TO $1.35 BILLION
Yahoo Finance (2024-11-04)
The insurance company says diluted earnings per share were $2.33,
EXTREME RAINFALL IS BECOMING MORE FREQUENT AND DEADLY
Bloomberg (2024-11-04)
Torrential rains that triggered floods and landslides have killed hundreds of people and displaced millions across parts of Africa, Europe, Asia and the US in recent months. The
CLIMATE-RELATED CREDIT RISKS RISE ALONGSIDE EMISSIONS
Investment Executive (2024-11-04)
To get back on track with the Paris Agreement commitments, countries would have to commit to cutting emissions by 42% for 2030, and by 57% for 2035, it noted.
CANADIAN PLEADS GUILTY IN GLOBAL PUMP-AND-DUMP
Investment Executive (2024-11-04)
Bauer (aka Patek) pled guilty to a charge of conspiracy to commit securities fraud in a U.S.
WHY $11 TRILLION IN ASSETS ISN’T ENOUGH FOR BLACKROCK’S LARRY FINK
WSJ (2024-11-04)
BlackRockâs BLK 0.65%increase;
WHY CANADA’S ECONOMY IS FACING A TURBULENT FOUR YEARS – REGARDLESS OF A TRUMP OR HARRIS WIN
G&M - JASON KIRBY, MARK RENDELL AND MATT LUNDY (2024-11-03)
The results of Tuesdayâs U.S.
TD BANKERS WEREN’T JAILED OVER MONEY LAUNDERING. BUT THIS GUY SURE WAS
G&M - Ethan Lou (2024-11-03)
Last week, the Canadian cryptocurrency billionaire Changpeng Zhao made his first public appearance after leaving U.S.
CANADIAN DRUG MAKER APOTEX HIRES BANKS TO PREPARE FOR IPO
Yahoo Finance (2024-11-03)
RBC Capital Markets, Jefferies Financial Group and TD Securities are advisers for the deal, the people said, asking not to be identified discussing information that is still private.
BRAZIL’S FINANCE CHIEF CANCELS TRIP TO EUROPE AT LULA’S REQUEST
Yahoo Finance (2024-11-03)
Brazilâs real was the worst performing emerging-market currency on Friday amid concerns about fiscal slippage, Lulaâs commitment to spending cuts and the outcome of the US presidential election.
CANADIAN IMMIGRATION CHANGES TO IMPACT BC & ONTARIO REAL ESTATE MOST: BMO
G&M (2024-11-03)
âFor temporary foreign workers specifically (who carry more weight than students), B.C.
RBA SET TO HOLD KEY RATE TO COUNTER STICKY PRICES, GLOBAL RISKS
Bloomberg (2024-11-03)
Australiaâs central bank is poised to keep interest rates at a 13-year high, marking a year of unchanged policy as it grapples with a slow pace of disinflation and mounting global risks capped by a tight US election. Economists
CREDIT AND DEBIT CARDS ATE CASH. SO WHAT’S EATING CARDS?
WSJ (2024-11-03)
In the most recent update of an annual diary of Americansâ payment habits, for the first time consumers used debit cards as often as cash for payments under $25. That
IT’S OFFICIAL: OBSI BECOMES SOLE EXTERNAL COMPLAINTS BODY FOR BANKING
Investment Executive (2024-11-03)
âAs a result of the move to a single [external complaints body], Canadians now have a simpler and fairer complaint-handling system,â said Werner Liedtke, interim commissioner with the Financial Consumer Agency of Canada (FCAC), in a release.
HOW WILL THE OUTCOME OF THE U.S. ELECTION AFFECT FINANCIAL MARKETS?
Investment Executive (2024-11-03)
Sheâs likely to maintain current trade policies and stability, added Gardner, and that could lead to steadier corporate profits.
TD BANK EXECUTIVES SHOULD HAVE BEEN PUNISHED MORE SEVERELY, U.S. SENATOR ELIZABETH WARREN TELLS PROSECUTORS
G&M (2024-10-31)
American Senator Elizabeth Warren is calling out the U.S.
CANADA’S BANKING LOBBYISTS CALL FOR OVERHAUL OF FINANCIAL CRIME REPORTING REGIME
G&M - Stefanie Marotta (2024-10-31)
Canadaâs banking lobby group is calling on Ottawa to significantly overhaul the framework that lenders use to monitor and report suspicious activity that could be linked to money laundering or terrorist financing. In
CANADIAN ECONOMY STALLED IN AUGUST, THIRD-QUARTER GROWTH LOOKS TO FALL SHORT OF CENTRAL BANK ESTIMATES
G&M - Najoud Al Malees (2024-10-31)
The Canadian economy was flat in August as high interest rates continued to weigh on consumers and businesses, while a preliminary estimate suggests it grew at an annualized rate of one per cent in the third quarter. Statistics
U.S. FEDERAL RESERVE SEEN ON TRACK TO CUT INTEREST RATES NEXT WEEK AND IN DECEMBER
G&M - Ann Saphir (2024-10-31)
With inflation now only just above the Federal Reserveâs 2 per cent target and wage pressures easing, U.S.
BANK OF CANADA OVERSIGHT OF RETAIL PAYMENT PROVIDERS LAUNCHES FRIDAY
Yahoo Finance (2024-10-31)
âEvery time you tap your card on a payment terminal or make a purchase online, there are at least two, maybe three or four payment service providers involved in getting the money out of your account and into a merchantâs account,â Ron Morrow, executive director of payments, supervision and oversight
US SEC SAYS JPMORGAN CHASE SETTLES FIVE ENFORCEMENT CASES, TO PAY $151 MILLION
Yahoo Finance - Jonathan Stempel (2024-10-31)
"JPMorgan's conduct across multiple business lines violated various laws designed to protect investors from the risks of self-dealing and conflicts of interest," Sanjay Wadhwa, acting director of the SEC enforcement division, said in a statement.
CANADIAN GDP DRIVEN SOLELY BY PUBLIC ADMIN, BIZ GROWTH TURNS NEGATIVE
Better Dwelling (2024-10-31)
âConsequently, GDP per capita has fallen by around 4.0%
BIG TECH EARNINGS DRAG DOWN STOCKS
WSJ (2024-10-31)
The tech-heavy Nasdaq Composite had its worst day in nearly two months, dropping 2.8%
A SIMPLE GUIDE TO THE US ELECTION 2024
Al Jazeera (2024-10-31)
It is estimated that there are more than 230 million people who are eligible to vote in the United States.
MASTERCARD'S PROFIT BEATS ESTIMATES ON RESILIENT CONSUMER SPENDING
Reuters (2024-10-31)
Although some have flagged a slowdown, spending levels remain elevated compared with last year as wage growth and hopes of a soft landing spur consumer confidence. Trends
OPENING STATEMENT BEFORE THE SENATE STANDING COMMITTEE ON BANKING, COMMERCE AND THE ECONOMY
BOC (2024-10-30)
There are risks around our inflation outlook.
SAVE THE DATE FOR OUR SECOND QUARTERLY RELEASE
OSFI (2024-10-30)
Last quarter we started piloting a new approach to the way we release regulatory guidance.
WALL STREET POWERHOUSE BLACKSTONE IS MYSTERY BIDDER FOR $7-BILLION ROGERS INVESTMENT
G&M (2024-10-30)
Blackstone Inc.
BANK OF CANADA READY FOR ANOTHER HALF-POINT RATE CUT IF WARRANTED, MACKLEM SAYS
G&M (2024-10-30)
Bank of Canada Governor Tiff Macklem said the central bank is prepared to cut interest rates by half a percentage point again if the economic conditions warrant it. âWeâre
DAYS AFTER THE BANK OF CANADA CUTS RATES, THE HAMMER DROPS ON SAVERS
G&M (2024-10-30)
I do love how banks announce lower returns on savings by saying their interest rates are âchanging.â EQ
THE LOONIE IS TRADING AT LOWS NOT SEEN IN YEARS. HERE’S WHAT IT MEANS FOR CANADIANS
G&M (2024-10-30)
The Canadian dollar is trading against the U.S.
ONTARIO LOWERS PROJECTIONS FOR HOW MANY NEW HOMES WILL BE BUILT
Yahoo Finance (2024-10-30)
This year's annual target is 125,000 homes, but the government's fall economic statement tabled on Wednesday shows it expects just 81,300, based on an average of private-sector forecasts.
MANULIFE CUTS 2.5% OF STAFF IN WEALTH AND ASSET MANAGEMENT UNIT
BNN (2024-10-30)
The move was made âin an effort to leverage our global operating model and focus on high-growth priorities,â a spokesperson said.
ROBINHOOD FALLS AFTER REVENUE MISS ON CUSTOMER PROMOTION PROGRAM
Bloomberg (2024-10-30)
Robinhood Markets Inc.
THE COMMERCIAL REAL ESTATE CRASH IS BATTERING EVEN THE SAFEST BONDS
Bloomberg (2024-10-30)
1407 Broadway was, as far as the financiers of Wall Street could tell, as rock-solid an asset as could possibly exist.
WALL STREET GIANTS TO MAKE $50 BILLION BET ON AI AND POWER PROJECTS
WSJ (2024-10-30)
KKR KKR 0.61%increase;
FLORIDA ACCIDENTALLY BANNED BANKS FROM DOING BUSINESS IN SUNSHINE STATE
WSJ (2024-10-30)
Florida wanted to make it easier to invest in the stateâs booming economy.
DONALD TRUMP WIN COULD BE A BOON FOR THESE CANADIAN BANKS
FP (2024-10-30)
âWhen thinking about which Canadian financials would benefit from a Trump presidency and which would not, the analysis is relatively straightforward: what companies have the highest proportion of employees who celebrate Thanksgiving in November versus October,â he said in a note on Oct.
JPMORGAN CEO JAMIE DIMON SAYS 'IT'S TIME TO FIGHT BACK' ON REGULATION
Reuters (2024-10-30)
"I have been told by people at the Fed, know that because of what you have said and what you wrote about, you know they are coming after you." The
POILIEVRE VOWS TO REMOVE GST ON NEW HOMES UNDER $1-MILLION
G&M - Rachelle Younglai, Stefanie Marotta (2024-10-29)
Federal Conservative Leader Pierre Poilievre said he would eliminate the federal goods and services tax on new homes priced under $1-million and $8-billion from the Liberalsâ existing housing programs if his party forms the government after the next election. Mr.
GOLDMAN SACHS OPENS OFFICE IN RIYADH’S GIANT FINANCIAL DISTRICT
G&M - Nicolas Parasie (2024-10-29)
Goldman Sachs Group Inc.
HSBC TO BUY BACK $3 BILLION SHARES AS PROFIT BEATS ESTIMATES
Yahoo Finance (2024-10-29)
Europeâs largest bank said Tuesday that it would repurchase up to $3 billion of shares on the back of a 9.9%
GOLD NEARS RECORD WITH FOCUS ON KEY US DATA AND ELECTION ENDGAME
Yahoo Finance (2024-10-29)
Gold advanced toward a record as traders prepared for key data that will help to set the stage for the next Federal Reserve policy decision, while the countdown to the US presidential election continued.
MACKLEM SAYS BANK OF CANADA WILL HAVE TO ‘DISCOVER’ WHERE NEUTRAL RATE IS
BNN - Erik Hertzberg (2024-10-29)
âIt makes sense to take some bigger-than-normal steps when youâve taken some really big steps on the way up,â Macklem said.
CANADA ON TRACK TO BE WORLD'S THIRD-LARGEST WHEAT EXPORTER IN '24-25 CROP YEAR
BNN - Amanda Stephenson (2024-10-29)
According to a 2024-25 outlook released last week by Agriculture and Agri-Food Canada, production of all principal field crops in the country is estimated to increase 1.8
SANTANDER BEATS PROFIT ESTIMATES AMID SIGNS OF INTEREST DRO
Bloomberg - Jorge Zuloaga (2024-10-29)
Banco Santander SA posted better-than-expected profit in the third quarter, as the lender sees progress in adjusting to lower interest rates. The
PRIVATE CREDIT’S BANKING ROMANCE MAY TURN SOU
Bloomberg (2024-10-29)
To understand the wave of bank partnerships with private-credit fund managers during the past year or so, think back to the boom in mortgage lending through securitization in the early 2000s.
CANADIAN PERMANENT RESIDENT APPLICATIONS FALL 57%, WEAKEST MONTH IN YEARS
Better Dwelling (2024-10-29)
Canadian permanent resident applications have made a sharp drop over the past twelve months.
WALL STREET TO CAPITALIZE ON RATE CUTS
Investment Executive (2024-10-29)
âFalling interest rates have bolstered fee income from investment banking and wealth management and are likely to support a recovery in loan growth,â the report said.
WHY A RISE IN REPORTED BULLYING AT U.K. BANKS MAY BE POSITIVE
Investment Executive - James Langton (2024-10-29)
â[A] high number of complaints could be an indicator of a healthy culture in which people feel they can speak up, confident they will be listened to.
BANK OF JAPAN LIKELY TO HOLD RATES, BUT SIGNAL THAT HIKES REMAIN ON THE TABLE
WSJ - Megumi Fujikawa (2024-10-29)
The bank is also slated to release its quarterly outlook on growth and prices.
TENS OF THOUSANDS OF TAXPAYER ACCOUNTS HACKED AS CRA REPEATEDLY PAID OUT MILLIONS IN BOGUS REFUNDS
CBC - Harvey Cashore, Daniel Leblanc (2024-10-29)
At the height of this year's tax season, the Canada Revenue Agency discovered that hackers had obtained confidential data used by one of the country's largest tax preparation firms, H&R Block Canada.
THE FALL OF THE HOUSE OF SHARPE: WHAT EXACTLY HAPPENED TO BRIDGING FINANCE?
Canadian Business (2024-10-29)
When they started out in the â90s, David Sharpe and Natasha Hilfer were both both fiercely smart and exceedingly ambitious, with eyes on the finance sector.
BANK OF CANADA EXHORTS FINTECHS TO GET ON BOARD WITH NEW RULES, WARNS OF REPERCUSSIONS
G&M - Mark Rendell (2024-10-29)
The Bank of Canada is urging thousands of digital payment companies to get on board with a new regulatory regime that starts rolling out this week, warning that it could take a tough line with businesses that fail to sign up. Starting
VISA EARNINGS TOP ESTIMATES, REVENUE JUMPS
Yahoo Finance (2024-10-29)
Visa (V) posted better-than-expected fiscal fourth quarter results.
BDC, EQUIFAX LAUNCH SMALL BUSINESS HEALTH INDEX TO TAKE PULSE OF CANADA'S SMES
Yahoo Finance (2024-10-29)
âOur innovative idea was that if we could combine the BDC and Equifax data, we could create a definitive measure of the business landscape in Canada,â said Sue Hutchison, chief executive of Equifax.
TRADER SAYS TD BANK SPOOFING DEAL DENIES HIM A FAIR TRIAL
BNN (2024-10-29)
Nadarajahâs lawyers said in a court filing that the governmentâs announcement of the deal turned âthe constitutional right to a fair trial on its headâ by telling the world that the trader was guilty.
WEALTHSIMPLE CEO CALLS CANADA’S PRODUCTIVITY LAG A ‘CRISIS’
Bloomberg (2024-10-29)
The head of Wealthsimple Inc.
TORONTO CONDO PRICES JUST HAD ONE OF THE WORST MONTHS ON RECORD
Better Dwelling (2024-10-29)
Greater Toronto condo prices are plunging.
MAJORITY OF YOUNG CANADIANS PLAN TO BUY HOMES WITHIN 5 YEARS: POLL
Investment Executive (2024-10-29)
But despite housing market challenges, the survey says 58% of non-homeowners aged 18 to 43 in Canada are still determined to purchase a home within the next five years.
RUSSIA RAISES INTEREST RATE TO 21 PERCENT, ITS HIGHEST IN DECADES
Reuters - Elena Fabrichnaya and Gleb Bryanski (2024-10-28)
Russia's central bank hiked its key interest rate by 200 basis points on Friday to 21%, the highest level since the early years of President Vladimir Putin's rule, when Russia was recovering from the chaos that followed the collapse of the Soviet Union. The
EUROPEAN CENTRAL BANK HEAD, CHRISTINE LAGARDE: "CLIMATE CHANGE" REQUIRES A COMPLETE OVERHAUL OF THE ENTIRE ECONOMY, IN LINE WITH THE "GREEN TRANSITION"
X (2024-10-28)
Including the need to "reduce our carbon footprint in everything we do, from banknotes to how we supervise banks.
WHY REGISTERING UNDER CANADA’S RETAIL PAYMENTS ACTIVITIES ACT HAS A MULTITUDE OF BENEFITS
Finextra - Madhvi Sonia (2024-10-28)
Registering under the Retail Payments Activities Act (RPAA) will allow payments services providers (PSPs) operating in Canada to bolster the safety and reliability of their retail services, while also protecting end users from specific risks.
IN CONVERSATION WITH DAN KELLY, PRESIDENT & CEO OF CFIB: NAVIGATING CANADA’S SMALL BUSINESS LANDSCAPE
Central 1 (2024-10-28)
Iâm really excited by the potential for faster payments in Canada.
MAYBE IT’S NOT ALL BAD THAT CANADA STILL DOESN’T HAVE OPEN BANKING
G&M - JohnTurley-Ewart (2024-10-28)
The contrast between the Canadian and U.S.
BANK OF CANADA CRASHES GIC PARTY, SENDS RETIREMENT SAVERS PACKING: JACKSON
BNN - Dale Jackson (2024-10-28)
The Bank of Canada drove another nail in the coffin for Canadians who invest in fixed income this week after slashing its benchmark interest rate by a whopping 50 basis points (half of a per cent) to 3.75
WHY SMALL BUSINESS NEED BETTER INTERNATIONAL BANKING ACCESS
BNN (2024-10-28)
CEO of Loop Financial Cato Pastol explains why small business may be missing out on the benefits of international banking access.
NEXT HURDLE FOR TREASURIES IS WHETHER US KEEPS DEBT SALES STABLE
Bloomberg (2024-10-28)
With its confidence in future interest-rate cuts shaken by US economic resilience, the Treasuries market is also facing doubts about how much longer the US government can avoid ramping up its borrowing. Even
THE MOST DISRUPTIVE TECHNOLOGY IN HUMAN HISTORY
Bloomberg (2024-10-28)
Itâs been a hectic week, what with Prime Minister Keir Starmer (via a careless choice of words) saying that shareholders arenât working people, and sweeping speculation about what the Budget might hold â the most pertinent of which for the readership of this newsletter is probably the threat to impose
WHY EVERYTHING YOU THINK YOU KNOW ABOUT MONEY IS WRONG
Apple Podcasts (2024-10-28)
Author and economist David McWilliams joins Merryn to discuss his latest book Money: A Story of Humanity, and how the evolution of currency is central to the rise and fall of civilizations.
‘INDUSTRY,’ THE HIT SHOW ABOUT FINANCE, LEAVES BANKERS SCRATCHING THEIR HEADS
WSJ - Alexander Saeedy (2024-10-28)
For instance, why would traders at Pierpoint be working on a companyâs initial public offering of stockâsomething that would so obviously be run by the equity capital markets syndicate.
CANADA SLOW TO EMBRACE NATURE RISK REPORTING
Investment Executive - James Langton (2024-10-28)
An industry-led group thatâs pioneering corporate disclosure of nature-related financial risks is reporting a surge in companies and financial institutions embracing its reporting framework, but only a handful of them are Canadian.
MOODY’S DOWNGRADES SOME TORONTO-DOMINION RATINGS, QUESTIONING EFFECTIVENESS OF BANK’S GOVERNANCE
G&M - Stefanie Marotta (2024-10-25)
Moodyâs Ratings downgraded Toronto-Dominion Bank TD-T late Wednesday on concerns over governance weaknesses and anti-money laundering failures that led U.S.
BOE’S MANN WARNS UK MAY HAVE CUT INTEREST RATES PREMATURELY
Yahoo Finance - Tom Rees and Irina Anghel (2024-10-25)
âIf you have structural persistence in the relationship between wages and price formation that lasts, that is persistent and embedded, then itâs premature to start cutting until you purge those behaviors,â she said.
KOREA SAID TO INDICT BNP PARIBAS FOR ILLEGAL SHORT-SELLING
Yahoo Finance (2024-10-25)
The French bank was charged last week with violating local capital markets law, according to the people, who requested anonymity discussing a private matter.
‘THEY HAVE SOME CATCHING UP TO DO’: EXPERT REACTION TO BOC’S JUMBO RATE CUT
BNN - Jordan Fieguel (2024-10-25)
âItâs rare that the bank hikes or cuts by more than 25 basis points⦠itâs a bit of an unusual move but at the same time, it may be a little bit of catching up.
CRYPTO FIRMS CHARGED WITH MARKET MANIPULATION IN US STING
BNN - Zeke Faux (2024-10-25)
The scheme involved wash trades â using accounts you control to trade assets back and forth to create the false impression of volume, the government said.
SWEDEN’S RIKSBANK SEEN EASING AT HIGHER PACE IN BLOOMBERG POLL
Bloomberg (2024-10-25)
Swedenâs central bank is likely to take interest rates lower at a faster pace than previously anticipated, according to economists surveyed by Bloomberg. Respondents
BARCLAYS POSTS PROFIT BEAT ON INVESTMENT BANKING, U.K. DOMESTIC STRENGTH
WSJ - Elena Vardon (2024-10-25)
The British bank on Thursday reported a pretax profit of 2.23
CANADA PLANS TO SHRINK ITS POPULATION… AFTER IMMIGRATION DEMAND PLUMMETS
Better Dwelling (2024-10-25)
The current permanent resident target will be slashed by over a fifth, over two years.
THIS ISN’T YOUR DADDY’S BANK RUN: FSB
Investment Executive - James Langton (2024-10-25)
Additionally, the median deposit outflow of these runs â 24% of pre-run deposits â was more than double the median of past deposit runs, which were around 10% of deposits.
NUMBER OF WORKERS ON EI CONTINUES TO RISE: STATCAN
Investment Executive - James Langton (2024-10-25)
Over this period, the jobless rate rose by 0.5
CANADIAN HOUSING OUTLOOK
TD - Rishi Sondhi (2024-10-25)
In terms of risks to our forecast, there is considerable uncertainty around the impact of the new federal policies.
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.
REGISTER FOR OSFI’S SECOND QUARTERLY RELEASE INDUSTRY DAY
OSFI (2024-11-08)
Come join the Office of the Superintendent of Financial Institutions (OSFI) for our second quarterly release industry day! We are continuing to pilot a new approach to the way we release regulatory guidance.
A TRUMP ELECTION WIN COULD GIVE A BOOST TO CANADA’S LARGEST FINANCIAL INSTITUTIONS, ANALYSTS SAY
G&M - Stefanie Marotta, Claire O'Hara (2024-11-06)
Canadian banks and insurers with businesses in the United States can expect two very different possible scenarios after next weekâs U.S.
TRUMP CLAIMS VICTORY IN U.S. PRESIDENTIAL ELECTION
CTV (2024-11-06)
In a speech to his supporters gathered at his campaign headquarters in Florida, Donald Trump claimed victory in the U.S.
News feed
FSIM briefings and developments reports
REGISTER FOR OSFI’S SECOND QUARTERLY RELEASE INDUSTRY DAY
Come join the Office of the Superintendent of Financial Institutions (OSFI) for our second quarterly release industry day! We are continuing to pilot a new approach to the way we release regulatory guidance.
JPMORGAN CEO DIMON TO REMAIN AT BANK AND HAS NO PLANS TO JOIN TRUMP ADMINISTRATION, SOURCE SAYS
Dimon, 68, has been the subject of repeated speculation in recent weeks as a candidate for Treasury secretary by both Republicans and Democrats, but he said last month that his chances of taking an official post were "almost nil". Reuters was the first to report his intentions to stay at the helm. The executive, who is one of the most prominent leaders in corporate America, has run JPMorgan for almost 19 years. The bank's board has named four candidates to succeed Dimon when he eventually steps down. Dimon and the other members of the bank's operating committee congratulated Trump, incoming Vice President JD Vance and other elected representatives, according to a memo to staff on Wednesday seen by Reuters. "Our firm has a long history of working across the political spectrum and looks forward to engaging the new administration and elected officials in both parties," they wrote, underscoring Dimon's Tuesday statement calling for unity after a hard-fought, divisive election. Goldman Sachs (GS.N), opens new tab sent a similar note to employees on Wednesday. While the veteran banker continued his tradition of not endorsing any presidential candidate this year, Dimon frequently weighed in on economic and financial policies, as well as geopolitical and national challenges. Meanwhile, media reports said his wife Judy Dimon traveled to Michigan last weekend to campaign for Kamala Harris, Trump's Democratic opponent. Dimon had previously downplayed the chances of taking a government position, telling analysts in October that "I probably am not going to do it... but I always reserve the right" to reconsider. JPMorgan's stock jumped over 10% on Wednesday alongside a similar gain for a broader S&P 500 index of bank stocks as investors speculated the incoming administration would be more friendly to lenders. Taylor Krystkowiak, an investment strategist at asset manager Themes ETFs in Washington, said investors would welcome the CEO remaining in place. "Dimon has continued to guide JPMorgan effectively throughout his long tenure at the bank’s helm, and his decision to remain there is unsurprising," Krystkowiak said. "Given that the bank has delivered robust results under his leadership, markets will likely laud Dimon’s decision to stay, renewing fresh confidence in the stock’s prospects." Dimon is credited with steering the bank through the 2008 financial crisis and last year's regional bank turmoil. During his tenure, JPMorgan became the largest bank in the U.S., far surpassing its rivals. "He has built the bank into a formidable company and has the best job in the world, and he will likely stay where he is," Tim Adams, CEO of the Institute of International Finance, a banking industry group, told Reuters before the election. Speculation around Dimon's plans intensified this year after he announced that his timeline for stepping down is no longer five years and could be as soon as two-and-a-half years.
OSC REVIEWS FUNDS’ RISK RATINGS, ETF REGULATION
The methodology that funds are required to use to devise their risk ratings allows fund managers to use their discretion to classify a mutual fund at a higher risk level than its standard deviation alone would imply, “if it is reasonable… in the circumstances.”