Wearing a protective mask, a dog walker ventures out as heavy smoke from northern Alberta forest fires blankets downtown Calgary on May 16, 2023.
THE CANADIAN PRESS/Larry MacDougal
Canadian financial institutions — banks, pension funds and private equity firms — fund the fossil fuel industry and are therefore helping fuel the climate crisis. Why won’t Ottawa hold them to account?
Discrimination can be hard to pick up.
aluxum/iStock via Getty Images
New research found that Black and Hispanic people tended to give banks a pass for poor customer service.
The UK retail bank business model has allowed banks to make significant profits as interest rates have risen over the past year.
The Office of the Superintendent of Financial Institutions has released guidelines for financial institutions to address climate change risks.
THE CANADIAN PRESS/Nathan Denette
OSFI’s guidelines are a small step towards making financial decision-makers more conscious of their influence on climate outcomes, but there is still work to be done.
Silicon Valley Bank, the sixteenth-largest bank in the U.S., collapsed on March 10, 2023 after customers tried to collectively withdraw $42 billion in a single day.
(AP Photo/Jeff Chiu)
The collapse of Silicon Valley Bank serves as a reminder of the importance of robust risk management, sound regulatory oversight and effective liquidity management.
A family reacts to news of the father’s bankruptcy in a 19th century engraving.
gameover/Alamy Stock Photo
New rules following a spate of bank failures in 19th century Britain could provide some lessons for today’s regulators.
Signature Bank collapsed at lightning speed.
AP Photo/Yuki Iwamura
Lenders face a lot of risks, but two of them – interest rate and liquidity – were the main drivers of the sudden and rapid failure of Silicon Valley Bank and Signature Bank. That’s why more trouble may be ahead for the banking sector.
SVB encountered a perfect storm of high interest rates and fearful clients.
AP Photo/Jeff Chiu
SVB, as it’s known, collapsed with lightning speed following a run on its deposits.
I graphed the average online rate for a $10,000 deposit against the Reserve Bank’s cash rate, going back to 2010. After seeing what that graph reveals, you’ll want to call your bank.
Alberta Premier Danielle Smith speaks at a news conference in Edmonton in November 2022.
THE CANADIAN PRESS/Jason Franson
The Free Alberta Strategy is in fact a road map for Alberta sovereignty, touching on the most essential compartment of sovereignty — banking and currency.
Ghana is trying to put together a debt restructuring programme to satisfy major stakeholders.
Ghana’s finance ministry is struggling to build consensus on the country’s debt burden.
Many people are trying to tighten their belts right now.
PeopleImages.com - Yuri A/Shutterstock
Mortgage rates – and repayments – have risen significantly since this time last year.
For better or worse, debt is a part of everybody’s financial portfolios. Solid financial planning will help you keep your eye on the prize of wealth accumulation.
New Zealand is preparing to roll out so-called ‘open banking’, Europe can offer valuable lessons on how best to open the financial system to new players.
Different accounts, different interest rates.
Pixel-Shot / Shutterstock
Mortgage rates have rocketed in recent months, but what about the rate on your savings account?
The government’s response to the housing crisis has been to build more homes.
England’s housing strategy will consume our entire carbon budget by 2050 – there are alternatives, but they face political and economic barriers.
Wet'suwet'en Chief Madeek reacts with his middle finger to protest the Royal Bank of Canada’s funding of the Coastal GasLink pipeline and other fossil fuel investments in Toronto in April 2022.
THE CANADIAN PRESS/Nathan Denette
Sen. Rosa Galvez has called for ambitious and coherent government intervention to address the risks financial institutions pose to climate. Here’s why Canadians must rally around her.
Left to right: Ben Bernanke, Douglas Diamond and Philip Dybvig.
The Nobel Foundation
Until Diamond and Dybvig published key papers in the early 1980s, it wasn’t well understood that perfectly healthy banks could be brought down by panicking depositors.
Central Bank of Nigeria, Ibadan zonal office.
Nigeria’s banking sector is dominated by local players born out of state policy.
Ghana’s borrowing has it on the verge of debt distress.
There are a number of reasons why Ghana’s domestic borrowing is more expensive than foreign debt.