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HAPTER 1: The Capital Markets and Financial Services (continued) CHARTERED BANKS * any patoiss operate under the border Act, regulation of Canadian bank ownership protect against foreign domination 1.Schedule 1 hire Banks ?Sixteen banks with six largest (Royal, CIBC, BMO, Scotia, TD, and National) ?Provide services through enthronization dealers, indemnification, mortgage, trust, mutual fun, and international subsidiaries ?Chinese walls controls that inhibit information sacramental manduction between various businesses ?Major activity is to loan currency to businesses and consumers at pastime grade higher then the rates they must pay in interests on deposits or new(prenominal) borrowing (covers operating costs) ?Specialized types of lending; residential mortgages, confines lending, project financing, foreign lending, venture capital lending, credit twit lending, equipment leasing 2.Schedule 2 and 3 Banks ?Schedule 2 whitethorn be wholly owned by non-residents, engage in same business as Schedule 1 ?Size of unmarried loan must be related to the capital stolid of the subsidiary rather then their p bent bank which limits susceptibility to extend larger loans ?Seek deposits from corporations ?Schedule 3 ack at a timeledge foreign banks that have opened banks in Canada without setting up Canadian incorporated subsidiaries 3.

Recent Bank Developments and Future Trends ?Bank owned Investment Dealers have begun to acquire U.S. Investment Dealers (discount brokers) ?Banks now allowed to offer non-banking financial services such as insurance and trust activities through subsidiaries ?Bank Act now offers non-deposit taking institutions (life insurance companies, securities dealers, and money market mutual funds) access to the allowance System LIFE INSURANCE COMPANIES 1.Products and Services ?Chief source of funds are premiums on whole life, term and group insurance policies, premiums world paid for annuities, pensions, group medical and dental care programs interest on policy loans and mortgages ?Two... If you want to get a wax essay, order it on our website: Ordercustompaper.com

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