OSFI’s new boss – Jeremy Rudin

Minister of Finance Joe Oliver today announced appointment of new Superintendent of Financial Institutions Jeremy Rudin. He will be replacing Julie Dickson. Mr. Rudin holds a B.A. from the University of Toronto, an M.C.R.P. from Harvard University, and a Ph.D. in economics from Stanford University. Mr. Rudin

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OSFI explains Balance Sheet Exposure on Capital Adequacy Requirements – Good for banks

Canadian banks – at present do not have a fixed capital ratio requirement. What they have is a mixed bag of guidelines imposed by OSFI. Since the last balance sheet meltdown, various BASEL committees were set up and they came up with ideas to regulate financial institutions

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Bank of Canada and Current Financial Condition – Underwater Household

Before the crisis, it took only 2% reduction of asset value to wipe out capitals of the international banks – said Mark Carney, Governor of the Bank of Canada. To protect the financial institutions from a similar disaster in future the international authorities have cranked up the

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Pay Day loan in Canada

Last week there was an article in AP about the big banks backing pay day loan companies. Same as spam e-mail payments mostly processed by some big names, the pay day loans are being mostly funded by big brands – the article claimed. In Canada, there have

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