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Business Operations
Economy: Canadian Chartered Banks

Submitted by: Raghvir Singh Sidhu
Student ID: 8630188
Professor: Abdul Shaikh
Date: October 12th, 2018

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• Canadian Chartered Banks are also known as commercial banks;
• Canada has an effective and safest banking system and also has an advanced banking system includes debit cards, internet banking and mobile banking;
• According to the Canadian ministry of finance, Canada’s banks are termed as Chartered banks, where major responsibility is to collect money and safeguard monetary assets from individual or organization and lend collected money to other customers who want to borrow on the basis of ascertained interest;
• Prior to Confederation in 1867, Canadian banks were chartered by royal assent;
• After Confederation, chartered banks were both licensed and supervised by Parliament;
• In 1871, the Bank Act law is passed by Parliament to regulate Canada’s chartered banks;
• The Bank Act has three main goals: protecting depositor’s funds, insuring the maintenance of cash reserves and promoting the efficiency of the financial system through competition;
• Canadian banks also engaged in insurance, trust and securities market;
• Chartered banks have over 8000 branches;
• These banks provide various services and help to enhance the economic growth of the country;
• Canadian Chartered banks are divided into different categories: The Big Five and The Smaller, Second Tier Banks;
• The “Big Five” national banks by total assets are: Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CIBC). These banks own and operate subsidiaries in other countries. Also, these banks are used by major part of Canadian population;
• Second tier banks include National Bank of Canada, HSBC Bank of Canada, AMEX Bank of Canada, Citibank Canada, INC bank of Canada and ICICI Bank of Canada. These banks operate in limited area;
• The main competitors for the chartered banks are Canada’s credit unions and cooperatives. Credit unions provide many of the same financial services and products as chartered banks;

• When the business cycle is expanding (recovering), people make more money and businesses take in more profit;
• People start to borrow money for houses, cars etc.;
• The bank raises interest rates to slow down borrowing to prevent consumers from fueling demand for goods and services so much that the inflation rate will increase dramatically;
• Banks must careful with their timing, and must not use too much restraint- which could cause a recession;
• Foreign deposits and foreign loans effect Canadian business a lot;
• Some banks have also expanded into the asset management business, both inside and outside Canada that includes pension fund management and mutual funds;
• The key source for a bank is interest earned on investments and loans;
• Banks also increasingly added other sources like service charges, fees etc.;
• The profit of the banks are affected by their ability to develop new revenue sources, the direction of interest rates and the trend in non-performing loans and their success in controlling costs;
• The most profit of the banks are the return on average assets and the return on shareholder’s equity;
• The interest rates in Canada influences major economic drivers like mortgages and loans;
• The lower value of Canadian dollar however helps manufacturing in regions like Ontario, but it increases the price of imported commodities and international travel;
• As oil is Canada’s biggest export, it has severe impact on Canada’s economy;
• Canadian government has increased the house pricing and people take loan from banks to buy house;
• Free trade agreements giving a major boost to Canadian producers and manufacturers looking to compete globally;
• International student fees effect Canadian business a lot. They help to increase Canadian GDP due to their high college fees.

• Canada is committed to upholding and safeguarding the rights of persons with disabilities and enabling their full participation in society;
• All jurisdictions in Canada have a broad range of policies, programs and initiatives aimed at providing support to persons with disabilities and their families and promoting their inclusion and full participation in Canadian society;
• Canada’s federal structure allows governments to work together to find innovative and practical solutions to challenges and to adopt policies and programs tailored to local needs and circumstances;
• The Government of Canada provides tax relief to persons with disabilities for costs related to personal mobility and to buying or building a home that is more accessible or better suited to their needs;
• The Canada Mortgage and Housing Corporation (CMHC) also undertakes research on housing accessibility for persons with disabilities;
• $1.7 billion annual funding in support of about 594,000 households living in social housing, including housing with special design features for persons with disabilities;
• A one-time investment of more than $2 billion under the 2009 federal budget to build new and repair existing social housing, including 883 new affordable housing units for persons with disabilities;
• Canada has taken steps to ensure that persons with disabilities can access immigration, refugee determination and citizenship services and proceedings in the same manner as other persons and provides accommodation, if necessary.
• This also increases unemployment rate. People with disabilities cannot work, so government allows bank to give them loans at low interest rate to fulfill their dreams;
• The campaign encouraged Ontario employers to hire people with disabilities through the Ontario Disability Support Program (ODSP);
• Eligible expenditures to support apprentices with disabilities include: offices for students with disabilities, equipment and technology, support services and professional development;
• The Ministry of Education allocates funding through a series of grants that provide school boards with flexibility to direct funds according to the required supports of students with special education needs;
• Special grants are provided to university and college disability offices to help them meet their legal obligations to provide access and accommodation for students with disabilities;

• Gather information from slides;

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