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Bank Run? Canada’s Top Banks Mysteriously Go Offline
Bank Run? Canada’s Top Banks Mysteriously Go Offline Days after Canadian Prime Minister Justin Trudeau said he would invoke emergency orders to crack down on demonstrators by freezing their bank accounts, five major Canadian banks went offline on Wednesday night, as customers reported their funds were unavailable, according to technology website Bleeping Computer. Royal Bank of Canada (RBC), […]
Canadian Banks Have an Outsized Impact on Global Fossil Fuel Financing
Canadian Banks Have an Outsized Impact on Global Fossil Fuel Financing We pledged to reduce emissions by 30 per cent by 2030, but will financial institutions undermine this goal? The Banking on a Better Future movement launched April 1. Photo by Joshua Best. When 18-year-old climate activist Naisha Khan wants to start a conversation about how […]
“Psychologically, They’re Ill-Prepared” – Canadian Chaos Looms
“Psychologically, They’re Ill-Prepared” – Canadian Chaos Looms Via Grant’s Almost Daily, I’m your huckleberry “U.S. hedge funds from time to time have appeared in this country over the last 10 years, with the same hypothesis of shorting Canadian banks, and it hasn’t worked out very well for them,” Brian Porter, CEO of the Bank of Nova […]
How Citizens Can Stop the Big Five’s Disastrous Fossil Fuel Funding
How Citizens Can Stop the Big Five’s Disastrous Fossil Fuel Funding Canada’s major banks have financed $464 billion worth of fossil fuel projects since 2016. My first bank account was with RBC, back when they were still into being called “Royal.” I didn’t so much as choose them as just follow my parents, like you […]
The ‘Big Short’ In Canada: Eisman Ups Bets Against “Big Six” Canadian Banks
The ‘Big Short’ In Canada: Eisman Ups Bets Against “Big Six” Canadian Banks Over the last year, Neuberger Berman portfolio manager Steve Eisman – who gained notoriety beyond Wall Street thanks to ‘The Big Short’ and his portrayal by Steve Carrell in the movie adaptation – has taken seemingly every opportunity to talk his book, […]
Why Rising Mortgage Rates Threaten Canada’s Banks
Why Rising Mortgage Rates Threaten Canada’s Banks Wolf Richter with Jim Goddard on This Week in Money: Interest rates will continue to rise in the US and Canada. In both countries, potential buyers face affordability issues, which puts a damper on demand. But in Canada, variable-rate and adjustable-rate mortgages dominate (while ARMs are only 6% of […]
Canadian banks set to reveal quarterly earnings amid housing & debt concerns
Canadian banks set to reveal quarterly earnings amid housing & debt concerns Ratings agency Moody’s downgraded the credit ratings for Canada’s big banks earlier this month, citing concerns that over-stretched borrowers and high house prices have left lenders vulnerable to potential losses. (Dillon Hodgin/CBC) The Canadian banks are expected to benefit from rising U.S. interest […]
For Canada’s Banks This Is “The Next Shoe To Drop”, And Why It Will Drop This Spring
For Canada’s Banks This Is “The Next Shoe To Drop”, And Why It Will Drop This Spring Roughly around the time the market troughed in early February, we asked “After The European Bank Bloodbath, Is Canada Next?” The reason for this question was simple: we said that “when compared to US banks’ (artificially low) reserves […]
New law proposed to shift bank failure risk from taxpayers
New law proposed to shift bank failure risk from taxpayers Ottawa proposes ‘bail-in’ regime to force creditors to prop up failing banks The Liberal government says it will create legislation that shifts some of the risk in a bank failure to creditors. (Canadian Press) Canada will introduce legislation to implement a “bail-in” regime for systemically […]
Bank watch lists early warning sign of trouble for oil and gas industry
Bank watch lists early warning sign of trouble for oil and gas industry Royal Bank, CIBC and Scotiabank each added 9 oil and gas firms to watch lists in recent quarterly earnings In releasing their latest quarterly earnings, Royal Bank, CIBC and Scotiabank each added nine oil and gas firms to their loan watch lists, […]
