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
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
Peter Martin, Crawford School of Public Policy, Australian National University
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.
Wikimedia Commons
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
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.
Wikimedia Commons
There are a number of reasons why Ghana’s domestic borrowing is more expensive than foreign debt.
The Canada Infrastructure Bank was founded in 2017 by the Liberal Party to support revenue-generating infrastructure projects through public-private partnerships.
(Shutterstock)
Rather than underwriting private interests and the privatization of public services, the Canada Infrastructure Bank can build a better democratic institutional legacy.
Here are the threats being faced by banks, companies and investment funds.
Russians in Moscow and elsewhere flocked to ATMs to withdraw cash, fearful that the ruble will plunge further due to Western sanctions.
AP Photo/Victor Berzkin
By working with allies, the Biden administration has been able to place severe sanctions on Russia – including targeting Putin’s inner circle and banning banks from SWIFT.