Canada

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Canadian Mortgage Growth Slows Amid Government Housing Moves

Canadian mortgage growth is slowing as the country’s policy makers step up efforts to cool overheated housing markets in Vancouver and Toronto. With four of Canada’s biggest banks reporting second-quarter results, the trend shows decelerating growth in h ...

Daily Headline - global.abi.org - 05/25/2017 - 17:36 - 0 comments

Canada’s ‘Big 5’ Banks in Spotlight Over House Price Fears

Canada’s biggest banks are this week set to post returns that again put their US peers in the shade, even as rapidly rising house prices and consumer debt levels have raised concerns about potential threats to financial stability north of the border, the ...

Daily Headline - global.abi.org - 05/21/2017 - 21:10 - 0 comments

Canada Oil Industry Get $173 Million Loan to Clean Up Abandoned Wells

The oil industry in Canada's resource-rich Alberta will be on the hook for a C$235 million ($172.7 million) government loan to clean up a rising number of oil wells abandoned by owners who have gone bankrupt, the province said on Thursday, Reuters r ...

Daily Headline - global.abi.org - 05/18/2017 - 22:06 - 0 comments

There's No Canadian Crisis In Sight Despite Downgrade Hitting Assets

Moody’s downgrade of Canada’s biggest banks beat down assets in a market already rattled by woes of mortgage lender Home Capital Group Inc, Bloomberg News reported. Yet analysts say this isn’t evidence of an impending crisis. “The weatherman just warned ...

Daily Headline - global.abi.org - 05/11/2017 - 22:04 - 0 comments

Hudson's Bay Taps Debt Adviser Amid Neiman Marcus Bid Challenges

Canada's Hudson's Bay Co has hired a debt restructuring adviser to review potential options for combining its business with debt-laden U.S. department store operator Neiman Marcus Group, according to people familiar with the matter. The move is ...

Daily Headline - global.abi.org - 05/08/2017 - 22:38 - 0 comments

Why Everyone Is Talking About the Troubles at a Tiny Canadian Lender

The world is suddenly paying attention to Home Capital Group Inc., the tiny Canadian mortgage lender that’s on the ropes. The stock is plunging, it faces a run on deposits and regulators are probing management’s disclosure of fraudulent mortgages, Bloomb ...

Daily Headline - global.abi.org - 05/01/2017 - 21:08 - 0 comments

Compliance and Reporting Updates—how the new FATCA, CRS and QI regulations impact FIs

KPMG’s leaders have the insight and experience to guide you through the upcoming challenges presented by these rules. Complex Canadian, U.S. and international laws dealing with client data collection and reporting continue to evolve, placing consider ...

Resource Article - twallace@abiwor... - 04/25/2017 - 10:49 - 0 comments - 0 attachments

2017 Federal Budget — Focus on Financial Services Industry

The 2017 federal budget introduces a number of measures affecting the financial services industry, many of which are good news for the insurance, banking and asset management sectors. Click here for more. (Canada) bankruptcy,insolvency,head ...

Resource Article - twallace@abiwor... - 04/25/2017 - 10:24 - 0 comments - 0 attachments

Canada Court Upholds Judgment Favoring Oil Firm Creditors

A Canadian court on Monday upheld a decision to grant lenders priority over environmental clean-up costs in oil-and-gas bankruptcies, raising chances disused wells from defunct companies could become a government responsibility, Reuters reported. That co ...

Daily Headline - global.abi.org - 04/24/2017 - 20:33 - 0 comments

Steelworkers Lose Bid to Appeal Two Decisions in Essar Algoma Insolvency Case

An Ontario appeal court has rejected an attempt by United Steelworkers Local 2724 to overturn two orders made by Justice Frank Newbould in the Essar Steel Algoma restructuring proceedings, Sootoday.com reported. Local 2724, representing Essar Algoma' ...

Daily Headline - global.abi.org - 04/23/2017 - 19:01 - 0 comments

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