...2008 Global Financial Crisis swept through the world, Australian and Canadian financial institutions performed relatively well, with operating stability in financial industry, and no emerge of any banks that are on the verge of bankruptcy or need government rescue. In this paper, in order to retrospect the intrinsic reasons, I will firstly explore the common features of the banking systems in Australia and Canada. Then I will compare their banking systems in structure and regulation with United States. Finally, the different ways mortgage lending is conducted in these three countries will be emphasized. Common features The common features of the banking systems of Australia and Canada are embodied in the high concentrated banking system along with intensive supervision and sound regulation. It is the common features that contribute to the resilient performance in these two countries’ banks through the global financial crisis. Generally speaking, the whole banking sector in either Canada or Australia is monopolized by a few large-scaled national banks. In Australia, there are mainly four banks, Commonwealth Bank, Westpac Banking Corporation, Australia and New Zealand Banking Group and National Australia Bank, which dominate Australian banking market. They are individually and collectively huge compared with the size of banking system and their total assets are vast compared with GDP. These four banks occupy 75% of the total banking assets and 80% of the residential mortgage...
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...international barriers to trade and investment. International integration is advancing rapidly, reflecting in part the development of global production chains and the rapid growth of emerging market economies. As a result of the forces of integration, international competition has become more fierce and firms are under increasing pressure to cut costs and differentiate their products to survive. Canada’s economy has numerous linkages beyond its borders, particularly with the United States. The future improvement of Canadians’ standard of living will depend in large part on foreign investment in Canada and the ability of Canadians to invest abroad. In this regard, a thriving financial sector will be a key component of our success. Canada has a small share of the global capital market. Thus, to be competitive, the Canadian capital market must be efficient and offer a low cost of capital. As much as possible, the policies and institutions that govern the Canadian financial sector should be harmonized to international standards. Made-in-Canada policies risk dampening or distorting international investment flows and should exist only where there is a demonstrable domestic imperative. Economists’ understanding of the role of financial systems as a driver of long-term economic growth has evolved considerably in recent years. Financial systems are recognized to...
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...=========================================== When reporting a crime to local police, you should insist on receiving the Comprobante de Denuncia as confirmation that a report has been made. Police officers may speak only Spanish. Passports and Visas A valid Canadian passport is required for Canadians intending to visit Cuba. The passport must be valid for at least one month beyond the date of your expected departure from Cuba. Canadians must also carry a tourist card (or visa), or a business or student visa. The tourist card is generally provided by tour operators or airlines, or can be obtained from a Cuban government office in Canada in the case of privately organized flights. It can also be purchased at certain airports in Canada. Health Insurance Since May 1, 2010, travellers must present proof of health insurance in order to enter the country. Upon arrival, travellers may be required to present an insurance policy, insurance certificate, or medical assistance card valid for the period of their stay in Cuba. Those who do not have proof of insurance coverage may be required to obtain health insurance from a Cuban insurance company when they arrive. Temporary residents also have to hold valid health insurance policies. Although proof of Canadian provincial health insurance is sufficient for visitors to enter Cuba, your provincial plan may cover only part of the costs and will not pay the...
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...The Canadian Dollar The Canadian dollar has seen its ups and downs compared to the US dollar for many years. This summary will go over the trends and causes of the shifting exchange rates of the Canadian Dollar and its impact on export and import of Canadian goods. It will also go over what could possibly be done to level out the decline of the Canadian Dollar and what the expectation is for the Dollar in the next five years. 15 Year Trend between the Canadian and the US Dollar In the last 15 years the Canadian dollar has gone from being lower than lesser than UD dollar to almost equivalent and for a period higher to back to lesser than US dollar. In 2000 1 CAD was equivalent to 0.673519 USD; it continued downwards until around 2003 where it went up to 0.71 USD. From 2003 it continued to rise to a high of 0.944173 USD until 2009 where it dropped back to 0.880095. Since 2009 the yearly average has continued to rise one year and drop the next, in 2011 we had the highest exchange rate of 1 CAD to 1.011464 USD, unfortunately by 2015 it dropped to average of 0.794280 USD. (Canadian Forex, 2015). Causes of Changes in Exchange Rates There are 6 factors that influence exchange rates; difference in inflation, difference in interest rates, current amount deficits, public debt, terms of trade, and political stability and economic performance. (Bergen, 2015). Specific reasons for the drop of the Canadian dollar include the weak Canadian economy, falling oil prices, the Greek crisis...
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...you reach downtown Ottawa. Set on a large hill that overlooks the Ottawa River the Parliament Buildings were constructed in 1859 to serve as Canada’s most important government buildings. It is the origin of politics in the country where all the important decisions regarding the country are made. Many of the areas on the hill are free to the public and one can explore most of Canada’s past and present when exploring the buildings. One area is Centre Block where you can go up to the Peace Tower’s observation deck and get a glimpse of the city from an elevated tower. Another place to see would be the Memorial Chamber and pay respect to deceased Canadians who lost their lives serving the country. When you visit here, you would not want to miss the Library of Parliament which is also known as "the most beautiful room in Canada". Canadians who work in Parliament use the library’s services on a daily basis. 2. The Rideau Canal The Rideau Canal was constructed in 1826 as a major waterway for transport and communication between Montreal, Quebec (a major city) and Kingston, Ontario (the capital city then). The Rideau Canal is a large chain of lakes, rivers, and canals that is over 202 km. It is North America’s oldest canal system still operating....
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...Cyclotron Systems (medical cyclotrons) * Affinity Credit Union (banking) * Areva Resources Canada (uranium) * Air Canada (airline) * AldrichPears Associates * ALDO Group * Algonquin Power * Allied Shipbuilders * Alta Newspaper Group * Alterra Power * Angoss Software Corporation (software) * Appnovation * Arc'teryx (outdoor apparel/equipment) * Atimi Software Inc * Aritzia (clothing) * Army & Navy Stores (Canada) * Arsenal Pulp Press (publisher) * ATI technologies (semiconductors) * Atmosphere Visual Effects (movie special effects) * AVI Sound International (audio/visual equipment manufacture) B * Ballard Power Systems * Banff Lodging Co * Bank of Montreal * Bank West * Barrick Gold * Bard Ventures Company * BBC Kids (television) * BC Biomedical Laboratories Ltd. * BC Hydro * BC Research Inc * Becancour Silicon (silicon manufacture) * Bell Canada * Bennett Environmental * Becker's * Ben Moss Jewellers * Big Blue Bubble (software firm) * BigPark (software firm) * Biovail * BioWare (video games) * Bison Transport Inc. (Transportation) * Black Diamond Cheese Limited * Black Hen Music (record label) * Black Photo Corporation * BlackBerry (wireless devices) * Blake, Cassels & Graydon (law firm) * Blackburn Radio * Bleeding Art Industries (special effects) * Blenz Coffee * Blue Water Studios (recording...
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...The Canadian State: Institutions and Structures The Constitution is very import in the context of the canadian state however it is not without controversy. As there has been many significant changes to fundamental rights Operational Institutions Westminster Style Parliamentary Government: derives from the british parliament in Britain meaning that we have an adversarial government. This can be expressed in the parliamentary structure of the house of commons (adversarial and conflict). High expectations of accountability in the formal legalities. The government must retain the confidence of the house (budget proposals) -legislative process: see above -party discipline: is linked to the idea of confidence, it operates through out the system. The general expectation is that members will vote along party lines. Pros: Accountability meaning that you know who is power and responsible for certain parts of the government, higher level of efficiency, fiscal and budgetary concerns, Cons: Can not always vote according to beliefs and values, inefficiency Federalism: Important driver of politics within Canada. To what extent are the types of different conflicts between the different levels of conflicts. Another reason why federalism exists is due in large part to the question of Quebec and the allocation of powers between french canada and the rest of the country. The Canadian State: Sovereignty 1867: Constitution Act, 1867 (BNA) 1926: The King-Byng Thing 1926: Nadan...
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...The Canadian Banking Oligopoly “A market situation in which control over the supply of a commodity is held by a small number of producers to sell”1, is the standard definition for the market structure of an oligopoly. As simple and as straightforward as the definition may read, an oligopoly is actually a rather complicated and multi-layered market model. In the next few pages of this report I will analyze the oligopoly of the Canadian banking industry and reveal the factors the oligopolists have to consider; type of product, strategic behavior and mutual interdependence, entry barriers, merger’s, some of the shortcomings of this market structure as well as the potential for profits. As the definition of the term indicates, in order to be considered an oligopoly, there are to be only a small number of producers. More specifically, the structure calls for “a few large producers”.2 The textbook, Microeconomics by McConnell, Brue, Flynn and Barbiero goes on to indicate that any industry which uses the term Big Three, Big Four, etc. would be considered an oligopoly. The Canadian banking industry is well known by the “Big 5” banks: RBC (Royal Bank of Canada), TD (Toronto-Dominion Bank), Scotiabank (Bank of Nova Scotia), BMO (Bank of Montreal) and CIBC (Canadian Imperial Bank of Commerce). To further confirm the fact that the “Big 5” are indeed an oligopoly, combined, they account for more than 85 % of the banking industry in Canada.3 Let us now begin the analysis. ...
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...level. For example, the provinces are responsible for determining who can get a driver’s licence. Most employers and their employees in Canada fall under the jurisdiction of the provincial labour legislation in their province. The federal Labour Program oversees the "federally regulated" sector of the labour force. This is approximately only 10% of the labour force. The rest of the labour force falls under provincial jurisdiction. Such as banks, airlines, railway companies, and communications companies. For example, like CIBC(Canadian Imperial Bank of Commerce), Air Canada , CN Rail (Canadian National Railway),Bell. For companies, two basic of federal employment laws: the Canada Labour Code and Canadian Human Rights Act. The Labour Code covers employment conditions, labour relations, and health and safety. The Canadian Human Rights Act applies to all federal government departments and agencies, grown corporations, and industries under federal jurisdiction. The Personal Information Protection and Electronic Documents Act is a Canadian law relating to data privacy. It governs how private sector organizations collect, use and disclose personal information in the course of commercial business. In addition, the Act contains various provisions to facilitate the use of electronic documents. Provincial Employment Legislation, is Similar to federal legislation that provides certain rights and guarantees. The similar place is the health and safety of workers are also covered by...
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...limited by Canadian government and I exchange chartered bank with provide them financial stability, in Canada focuses on banking sector that’s why brokers dealers and security market remain much at smaller .The banking system of branch was oliogiopolisty that imply the system which has limited supply of banking services and cost as compared to their competitors . In our previous work (Bordo et al., 1994) we analyzed that the Canadian banking is not categorized in higher cost as compared to US. The banking of Canada same returns on equity and largely used MMMFSs After 1987 they became a vital part of Canada banking, at that time government had given them permission to create MMMFs and half of total MMMFs are kept at bank which means that they are within the banking system. According to (Byung kyong & Niamh Sheridan,2012) Canada’s three large bank weighted average is two an half time smaller than Australia’s four major banks however non performing rate of housing loans in Australia and Canada are almost same in recent years. The mortgages in Canada are provided by Canada mortgage and Housing Corporation own by Government are assigned at weight of zero risk, therefore the lowest risk of residential mortgages of four large Canadian banking is almost 70% in comparison with 40% of major Australian banks. In Australia uses conservative approach in banking which help them in the stability of financial sector.180% of GDP in Australia is combined asset of four major banks, Australia...
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...system in United Kingdom After the examination of Canadian national institution, it has been nominated that a few reforms are intensely needed in the Canadian institutions for the due management of the regional and the inter-governmental issues (Loiacono, 2010). The three suggested reforms are the reforms in the Supreme Courts, the reforms in the senate, the reforms in the House of Commons Supreme Court The need for the reform is elevated by considering the fact that is it logical to consider Supreme Court as a general court of appeal and are their any specialized needs of constitutional tribunals. The scope of judicial proceedings and judgments needs to be institutionalized in the context. Quebec is indeed the province that responds assertively to the importance of a pure judiciary. Quebec highlights that the existing Supreme Courts are totally appointed in the conformance of federal executives, and it does not differentiate the difference between civil law and the British common law. Additionally the decisions of the Supreme Court are confirmed to be biased against the Quebecers. The debate since 1950s still needs a re-modification in the form of a pure Canadian Supreme Court, where the law holds every Canadian equal in the court of law (Sherman, 1999, p. 68). Senate The second modification proposed is the modification in the senate. The Canadian federation has long been considered to seek the reform in the Canadian senate. In the Federal-Provincial Conference 1887...
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...Canadian Breast Cancer Foundation Thousands of Canadians are touched by breast cancer each year. The Canadian Breast Cancer Foundation is one of the biggest foundations worldwide. Over thousands of volunteers, donors and over 70 corporate partners are supporting this cause to create a future without breast cancer. The Foundation allocates funds to high-quality research across the country. To begin with, there are many ways to help improve and save the lives of Canadians at risk of breast cancer. Volunteering in the different activities and participating in the ‘’ Run for the cure’’ campaign can be a great way to support the cause. Furthermore, donation and ‘’shop for the cure’’ are the biggest ways our community helps. Many citizens are making a regular or a one-time donation. We see donation boxes pretty much everywhere. After purchasing a product, buyers usually donate the coins that they don’t need. After all, who would want to fill his wallet with heavy coins? The partners of this foundation play a big role. They help the cause by either donating substantial amounts of money or by giving a percentage of the sales of their promotional products. They are part on the ‘’ Shop for a Cure’’ initiative. The Shop for Cure is a way to help raising money for Breast Cancer while consumers receive something in exchange. When buyers purchase the promotional products bearing the breast cancer’s logo, they show support to the cause. We live in a consumer's world. In our society...
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...broach the matter of food insecurity that Canadians face as a result of poverty. Food is one of the basic human rights referenced in Article 25 of the Universal Declaration of Human Rights adopted in 1948, it states that “The right to food is the right of every individual, alone or in community with others, to have physical and economic access at all times to sufficient, adequate and culturally acceptable food produced and consumed sustainably, preserving access to food for future generations.” Over 50 years later, however, and hunger remains a prevalent issue throughout many first world countries, including...
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...Corporation Agrium Inc. Air Canada Alberta-Pacific Forest Industries Inc. Bank of Canada Bayer Canada BC Public Service BDC / Business Development Bank of Canada Bennett Jones LLP Cameco Corporation Canadian National Railway Company / CN Canadian Security Intelligence Service Cape Breton District Health Authority Carswell, a division of Thomson Reuters Canada Limited Catholic Children's Aid Society of Toronto Cementation Canada Inc. Ceridian Canada Ltd. CIBC College of Physicians and Surgeons of British Columbia ConocoPhillips Canada Dalhousie University Deeley Harley-Davidson Canada Deloitte LLP Department of Finance Canada Desjardins Group / Mouvement des caisses Desjardins DIALOG Diavik Diamond Mines Inc. EllisDon Corporation Enbridge Inc. ERM Rescan Fairmont Hotels & Resorts General Electric Canada / GE General Motors of Canada Limited Georgian College Golder Associates Ltd. Great Little Box Company Ltd. Hospital for Sick Children, The HP Advanced Solutions Inc. ISM Canada Ivanhoé Cambridge Inc. Knight Piésold Ltd. KPMG LLP L'Oréal Canada Inc. Labatt Breweries of Canada Loblaw Companies Limited Lundbeck Canada Inc. Manitoba Hydro Manulife Financial Corporation Mars Canada Inc. McCarthy Tétrault LLP Medtronic of Canada Ltd. Merck Canada Inc. Monsanto Canada Inc. Mosaic Company, The Mountain Equipment Co-op National Ballet of Canada, The National Energy Board Nuance Communications Canada Inc. OpenText Corporation Ottawa...
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...ADM3302 Supply Chain Management Canadian Circulation Coin Distribution System Overview of the Royal Canadian Mint Founded in 1908 in Ottawa Two types of production o Hand craft coins in Ottawa o Circulation coins in Winnipeg Business Lines o Canadian circulation (5 cents to 2 dollars, including recycling) o Bullion & Refinery o Numismatics o International customers (Doing money for other countries) 800 million commemorative coins produced and distributed o New technology used on the last coins (Stamp) Demands in Canadian: 4.5 – 5 billion o This demand is based on the coin orders, but also calculated with an IT structure analysing the market. o Trade and commerce activity is unknown, and invisible for RCM o Over this 4.5-5 billion 8% comes from RCM production 11% from recycling 79% from bank inventory Canadian Circulation Coin Distribution System (CCCDS) Supply > Distribute > Authenticate > Enhance > (Forecasting, Production, Distribution, Recirculation, Verification, Auditing, Consultation, National Coin Committee.) Supply Finding the right balance between Coin demand and Coin supply 5 denomination 23 regional sites, 12 pool sites 10 financial institution 1150 forecast generated every week Distribution Every coins are produced at Winnipeg, and then send to one of the 12 pool sites Why Winnipeg? Maybe because it’s a central place! Last shortage was in 2005 Higher...
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