Presentation on theme: "Finance: Money & Banking Keyboarding Home Row. Remember the home row has groves (raised surfaces) on their keys so you can find them without looking Remember."— Presentation transcript:
A financial institution licensed as a receiver of deposits. Their primary function is to handle money. Banks manage withdrawals and deposits as well as supplying loans Our big banks are called commercial/retail banks.
In most countries, banks are regulated by the national government or central bank. The government oversees (controls) and protects the wealth of a nation In Canada banks must be given a charter or license to operate by Federal parliament.
Canadian Banks use a branch banking system Canada allows only a few banks with each having many offices This is very safe, never a failure in Canada's history. In contrast with US where thousands of banks, lots of failures
Our government watches all bank activity, especially: bank reorganizations (mergers) and foreign banks Since confederation, no foreign banks have been allowed in Canada (fear of US domination) And unless necessary, few mergers too
1. Royal Bank 2. Bank of Montreal 3. Canadian Imperial Bank of Commerce 4. Toronto Dominion 5. Bank of Nova Scotia 6. HongKong Shanghai Banking Corporation
Royal Bank, Canada's biggest bank 1500 branches, profits around $10-12 Billion annually, Originally founded as Royal Bank of Halifax in 1795, sold to Montreal business people in 1826 and name was changed to Royal Bank of Canada
Bank of Montreal, 4th biggest bank in Canada, claims to be Canada's oldest, founded in 1821. BMO uses the "First Bank" theme extensively
CIBC 2nd largest bank, result of 1950's merger between Imperial Bank of Canada, and Canadian Bank of Commerce
TD, 3rd biggest bank. The result of 1950's merger of Bank of Toronto and Dominion Bank of Canada. In 1990 TD purchased the Calgary/Vancouver based Canada Trust (which had long hours, as opposed to the old banking hours of 10:00am- 3:00pm. TD keeps the Canada Trust name, because it is favourably associated with long hours.
Bank of Nova Scotia, 5th biggest bank, quite a bit smaller than the previous 4, but very profitable, Scotia Bank plays with high risk foreign exchanges and gold speculation. It is the largest bank in many Caribbean countries and has a large presence in South America
HSBC in 1970's started off as the Bank of British Columbia In 1986, the bank was in danger of failing due to large outstanding loans. The gov't of Canada reluctantly agreed for it to be sold to Hong Kong investors who were pouring into Vancouver ahead of 1997 (the year Hong Kong went back to China). So Canada got a partially foreign bank. HKBC, Hong Kong Bank of Canada.
In 1999, this bank was bought out by the international banking giant HSBC, Hongkong Shanghai Banking Corporation. So we now have a completely foreign-owned bank in Canada, even though it is specifically disallowed by federal rules. But it has not been a problem, so the government has turned a blind eye to it.
Bank of Canada It is Canadas Central Bank Not a commercial bank, it does not offer banking services to the public It makes sure that our banking system continue to work CDIC, Canadian Deposit Insurance Corporation Not a commercial bank, no public services It protects the peoples money in case of bank failure It is a fail-safe and will bail-out a bank in needed (last resort)
You guys are now the teachers. In groups of 4 or 5 you will use your computer and research your assigned bank. As a group you will try to find out some new, different or interesting things about your bank and then share your findings with the class. Together, as a group, make a list of 10 things you learned about your bank.
Time to report out and tell us what you learned
Use the rest of the class time to work on your money assignment
1. What is something new that you learned about banks and banking? 2. Would you like a credit card from a major bank? What are the advantages and disadvantages of having a credit card? 3. Would you prefer to do business with a major bank (one of the big 6) or a smaller one (local community bank)?)
You can find my notes at UBC Blogs under my name: Mr Vatougios https://blogs.ubc.ca/mrvatougios/