Banking

Witnesses saw the man get out of a white Hyundai in the 1600 block of Ellis and procede to smash several windows at a bank. (Black Press file photo)

Axe-wielding man smashes bank windows in downtown Kelowna

‘These types of unprovoked attacks on our local businesses are concerning to the RCMP’

 

The town of Esquimalt has seen its only bank close down. (CP photo)

Esquimalt residents alarmed as town’s only bank closes

Residents say town is growing, but services are not

 

The Office of the Superintendent of Financial Institutions is considering strengthening Canada’s mortgage stress test. (The Canadian Press)

Banking regulator launches consultations on mortgage rules, proposes additions

Possible changes to existing stress test would aim to reduce overstretched borrowers

 

FILE - Container cranes at a port in New Jersey appear behind the Statue of Liberty, Sunday, Nov. 20, 2022, in New York. The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(AP Photo/Julia Nikhinson, File)

World Bank warning: Global economy is at risk of recession

Development funding institution forecasts third-weakest annual expansion in 30 years

FILE - Container cranes at a port in New Jersey appear behind the Statue of Liberty, Sunday, Nov. 20, 2022, in New York. The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(AP Photo/Julia Nikhinson, File)
Nature Conservancy Canada’s Boreal Wildlands project is seen in an undated handout photo. Banks know a growth market when they see it, and they’re increasingly seeing one in the buying, selling and generating of carbon offsets. THE CANADIAN PRESS/HO-Nature Conservancy Canada, Andrew Warren

Canadian banks readying for carbon offsets to go big, even as doubts remain

Global offsets market projected to grow from $1 billion to $50 billion by 2030

Nature Conservancy Canada’s Boreal Wildlands project is seen in an undated handout photo. Banks know a growth market when they see it, and they’re increasingly seeing one in the buying, selling and generating of carbon offsets. THE CANADIAN PRESS/HO-Nature Conservancy Canada, Andrew Warren
Maxwell Johnson (left) and members of the Heiltsuk Nation gathered outside the BMO on Burrard Street in Vancouver May 5 to announce a settlement has been reached after Johnson and his granddaughter were handcuffed outside the branch two years ago. (Jane Skrypnek/Black Press Media)

Heiltsuk man, granddaughter handcuffed outside Vancouver BMO reach settlement with police

VPD promises overhaul of police training, addressing of anti-Indigenous racism

Maxwell Johnson (left) and members of the Heiltsuk Nation gathered outside the BMO on Burrard Street in Vancouver May 5 to announce a settlement has been reached after Johnson and his granddaughter were handcuffed outside the branch two years ago. (Jane Skrypnek/Black Press Media)
A view of The Bank of England in London, Thursday, Sept. 22, 2022. Britain’s central bank is under pressure to make another big interest rate hike Thursday. Inflation in the United Kingdom is outpacing other major economies, but the U.S. Federal Reserve and other banks are moving faster to get prices under control. (AP Photo/Kirsty Wigglesworth)

Central banks worldwide tighten policies to cool inflation

Banks from the UK to Papan are following US lead on interest hikes

A view of The Bank of England in London, Thursday, Sept. 22, 2022. Britain’s central bank is under pressure to make another big interest rate hike Thursday. Inflation in the United Kingdom is outpacing other major economies, but the U.S. Federal Reserve and other banks are moving faster to get prices under control. (AP Photo/Kirsty Wigglesworth)
Bank towers are shown from Bay Street in Toronto’s financial district on Wednesday, June 16, 2010. Canada is banking on newcomers to help keep the economy humming along, while banks themselves are eying the hundreds of thousands of people coming to the country every year as a key source of client growth. THE CANADIAN PRESS/Adrien Veczan

Canadian banks look to newcomers as key source of client growth

Some banks forming partnerships with international ones to make transitioning to Canada easier

Bank towers are shown from Bay Street in Toronto’s financial district on Wednesday, June 16, 2010. Canada is banking on newcomers to help keep the economy humming along, while banks themselves are eying the hundreds of thousands of people coming to the country every year as a key source of client growth. THE CANADIAN PRESS/Adrien Veczan
Canadian banks will give some insight into where they see the economy going when they start to report this week, with analysts watching for trends in key indicators like loan growth, capital raising, and how much banks are putting aside in case loans go sour. The Bay Street Financial District is shown in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette

Canadian banks to report earnings amid rising interest rate environment

Analysts predicting growth in some areas, drop in others

Canadian banks will give some insight into where they see the economy going when they start to report this week, with analysts watching for trends in key indicators like loan growth, capital raising, and how much banks are putting aside in case loans go sour. The Bay Street Financial District is shown in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette
Bank of Canada Governor Tiff Macklem speaks at a press conference in Ottawa on Thursday, June 9, 2022. THE CANADIAN PRESS/ Patrick Doyle

Bank of Canada hikes key interest rate by full percentage point

Inflation hit a 39-year-high of 7.7 per cent in May

Bank of Canada Governor Tiff Macklem speaks at a press conference in Ottawa on Thursday, June 9, 2022. THE CANADIAN PRESS/ Patrick Doyle
Mark McLoughlin will start his position as president/CEO of Kootenay Savings next month, and will be based in the Trail branch. Photo: Times file

Kootenay Savings Credit Union appoints new leader

Mark McLoughlin’s career has spanned many industries

Mark McLoughlin will start his position as president/CEO of Kootenay Savings next month, and will be based in the Trail branch. Photo: Times file
Bank of Canada analyst Farid Salji speaks to business owners about counterfeit bills at Kelowna RCMP headquarters. (Photo/Kelowna Cap News)

Education urged for B.C. businesses in battling bogus bills

‘We have materials designed for everybody, and everything is absolutely free’

Bank of Canada analyst Farid Salji speaks to business owners about counterfeit bills at Kelowna RCMP headquarters. (Photo/Kelowna Cap News)
A woman uses her computer keyboard to type while surfing the internet in North Vancouver, B.C., Wednesday, Dec. 19, 2012. Businesses and other private-sector organizations would be required to report ransomware incidents and other cyberattacks to the government under a federal bill to be tabled today. THE CANADIAN PRESS/Jonathan Hayward

Key enterprises could face penalties under federal bill to bolster cybersecurity

New legislation targets telecommunications, finance, energy and transportation sectors

A woman uses her computer keyboard to type while surfing the internet in North Vancouver, B.C., Wednesday, Dec. 19, 2012. Businesses and other private-sector organizations would be required to report ransomware incidents and other cyberattacks to the government under a federal bill to be tabled today. THE CANADIAN PRESS/Jonathan Hayward
Cranbrook’s East Kootenay Community Credit Union and Castlegar’s Heritage Credit Union have entered into merger discussions. Photo: Barry Coulter
Cranbrook’s East Kootenay Community Credit Union and Castlegar’s Heritage Credit Union have entered into merger discussions. Photo: Barry Coulter
Bank towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. The long wait for shorter wait times on resolving bank complaints is almost over as part of a raft of updates to banking regulations set to come into force.THE CANADIAN PRESS/Adrien Veczan

New bank rules come into force this month but critics say they don’t go far enough

Rules include reducing liability on lost cards, requiring alerts when balances drop below $100

Bank towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. The long wait for shorter wait times on resolving bank complaints is almost over as part of a raft of updates to banking regulations set to come into force.THE CANADIAN PRESS/Adrien Veczan
The Bank of Canada building is seen on Wellington Street in Ottawa, on Tuesday, May 31, 2022. The Bank of Canada will outline what it sees as the key vulnerabilities and risks to Canada’s financial system later this morning. THE CANADIAN PRESS/Justin Tang

Bank of Canada says household debt and home prices key risks for financial system

Households have seen net worth increase of about $230,000 over the first two years of the pandemic

The Bank of Canada building is seen on Wellington Street in Ottawa, on Tuesday, May 31, 2022. The Bank of Canada will outline what it sees as the key vulnerabilities and risks to Canada’s financial system later this morning. THE CANADIAN PRESS/Justin Tang
Young investors show that long term goals are a part of their financial planning repertoire in an RBC poll. (Black Press Media file photo)

Young Canadian investors bloom in Canada during pandemic: RBC poll

Young investors seek tools to invest, save and budget smartly while also saving for the future

Young investors show that long term goals are a part of their financial planning repertoire in an RBC poll. (Black Press Media file photo)
The Bank of Canada in Ottawa on Wednesday, July 14, 2021. A new report from the Bank of Canada on climate transition risks show Canada’s financial institutions are potentially exposed to significant economic shocks from high-emitting sectors. THE CANADIAN PRESS/Sean Kilpatrick

BoC scenarios show financial sector exposed to potential climate transition shocks

The pilot study isn’t meant as a forecast but considers several climate policy scenarios

The Bank of Canada in Ottawa on Wednesday, July 14, 2021. A new report from the Bank of Canada on climate transition risks show Canada’s financial institutions are potentially exposed to significant economic shocks from high-emitting sectors. THE CANADIAN PRESS/Sean Kilpatrick
Governor of the Bank of Canada Tiff Macklem participates in a media availability at the Bank of Canada in Ottawa, on Wednesday, Dec. 15, 2021. THE CANADIAN PRESS/Justin Tang

Federal documents hint at sweeping economic impact from central bank ‘digital loonie’

Central bank met with federal officials over 2020 to gauge the implications of own cryptocurrency

Governor of the Bank of Canada Tiff Macklem participates in a media availability at the Bank of Canada in Ottawa, on Wednesday, Dec. 15, 2021. THE CANADIAN PRESS/Justin Tang
Greenpeace activists stage a demonstration outside a bank in Toronto, as they protest major Canadian bank’s investment in fossil fuels, on Tuesday, December 7, 2021. THE CANADIAN PRESS/Chris Young

Banks offer big climate commitments in 2021, but key details are yet to come

Pressure is mounting as Canadians live through the very real effects of climate change

Greenpeace activists stage a demonstration outside a bank in Toronto, as they protest major Canadian bank’s investment in fossil fuels, on Tuesday, December 7, 2021. THE CANADIAN PRESS/Chris Young