HAPTER 1: The Capital Markets and Financial Services (continued)
CHARTERED BANKS
*All banks operate under the Bank Act, regulation of Canadian bank ownership protect against foreign domination
1. Schedule 1 Chartered Banks
• Sixteen banks with six largest (Royal, CIBC, BMO, Scotia, TD, and National)
• Provide services through investment dealers, insurance, mortgage, trust, mutual fun, and international subsidiaries
• "Chinese walls" controls that inhibit information sharing between various businesses
• Major activity is to loan funds to businesses and consumers at interest rates higher then the rates they must pay in interests on deposits or other borrowing (covers operating costs)
• Specialized types of lending; residential mortgages, term lending, project financing, foreign lending, venture capital lending, credit card lending, equipment leasing
2. Schedule 2 and 3 Banks
• Schedule 2 may be wholly owned by non-residents, engage in same business as Schedule 1
•......

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Title: Cscnotes
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Approximate Pages: 12 (250 words per double-spaced page)

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1. Cscnotes
   

   cscnotes. HAPTER 1: The Capital Markets and Financial Services (continued) CHARTERED
   BANKS *All banks operate under the Bank Act, regulation ... ...