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Articles on Banks

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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 new guidelines: A step toward making banks and insurers more conscious of their climate impacts

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)

What Canada can learn from the collapse of Silicon Valley Bank

The collapse of Silicon Valley Bank serves as a reminder of the importance of robust risk management, sound regulatory oversight and effective liquidity management.
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

A Canadian senator aims to end the widespread financial backing of fossil fuels

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.
The Canada Infrastructure Bank was founded in 2017 by the Liberal Party to support revenue-generating infrastructure projects through public-private partnerships. (Shutterstock)

It’s time for the Canada Infrastructure Bank to reclaim its public purpose

Rather than underwriting private interests and the privatization of public services, the Canada Infrastructure Bank can build a better democratic institutional legacy.
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

US-EU sanctions will pummel the Russian economy – two experts explain why they are likely to stick and sting

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.

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