In his recent speech, Mark Carney pointed to the challenges facing the recovering global economy – namely a growing distrust in banks. He states that banks should focus on winning back the trust of consumers, as the effects of the 2008 recession and bad banker behaviour leave their mark.
The holidays have come and gone – but are you kicking off the new year with newly-acquired debt? If last year’s spending is still making its mark on your wallet, it may be time to take drastic measures.
IIROC’s recent investigation into the CDOR rates (the Canadian equivalent to LIBOR) finds a need for more transparent regulations. What does this mean for Canadian borrowers?
Recent finance headlines are full of news on the Barclays Libor scandal. For those not familiar with the global interbank lending interest rate, the news puts into question the validity of trillions of dollars in loans granted between 2006 and 2008. Will Canadian finances be affected? If their bank used this benchmark rate to trade with international financial institutions during this time period, they very well could be.