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CanadianBankNews - 2026-07-12
Canada's housing supply shortage remains a long-term affordability issue. Even when rates move or sales slow, new construction, zoning reform, labour capacity and project financing still shape how quickly homes can be added.
- Housing supply is an affordability issue, not only a real estate market issue.
- Construction delays, approvals and financing can limit how quickly new homes are built.
- First-time buyers should compare affordability using current rates and realistic monthly costs.
Read fixed guideCanadianBankNews - 2026-07-11
RBC Avion Rewards is our No. 1 overall pick for Canadian bank loyalty because it offers a broad major-bank ecosystem and flexible travel-oriented redemption choices, but the best program depends on how each Canadian earns and redeems rewards.
- RBC Avion is the strongest overall program for flexible travel and redemption choice.
- Scene+, TD Rewards, CIBC Aventura and BMO Rewards are worth comparing.
- Cash back may be better than points for readers who want simple dollar value.
Read fixed guideCanadianBankNews - 2026-07-12
If scammers drain your account, your bank's responsibility depends on whether the transaction was unauthorized, whether you protected credentials, how quickly you reported it, and what the investigation finds.
- Unauthorized fraud and authorized payment scams are treated differently.
- Report suspicious activity to your bank immediately and keep the case number.
- If you disagree with the bank's decision, escalate through the bank, then OBSI where eligible.
Read fixed guideGlobe and Mail - Business • 2026-08-21
National home sales have increased for the fourth consecutive month in July, with the home price index also seeing a slight rise, indicating potential market st
AI summary
National home sales have increased for the fourth consecutive month in July, with the home price index also seeing a slight rise, indicating potential market stabilization. In the Greater Toronto Area, Ajax has emerged as the top city for renters due to higher supply and stability, though affordability remains a concern. Meanwhile, some young condo owners are becoming "accidental landlords" as they rent out their units due to declining resale values and rising costs, often at a financial loss.
Key takeaways
- National home sales rose for the fourth straight month in July.
- Ajax is the best GTA city for renters based on supply and stability.
- Young condo owners are becoming accidental landlords due to market conditions.
Globe and Mail - Business • 2026-08-21
Prime Minister Mark Carney announced a $2.7-billion federal investment in low-interest loans and grants for 18 projects in Toronto, aiming to build 5,600 new re
AI summary
Prime Minister Mark Carney announced a $2.7-billion federal investment in low-interest loans and grants for 18 projects in Toronto, aiming to build 5,600 new rental homes, including a significant portion of non-market and supportive housing units. The initiative involves a partnership with the city, which is contributing capital and property tax abatements, with a goal of having 80 per cent of units under construction by year-end. While praised for addressing housing needs, some experts note that many sites were already in development pipelines and question the provincial government's absence from the funding commitment.
Key takeaways
- Federal government pledges $2.7 billion for new rental housing in Toronto.
- Initiative includes 5,600 new rental homes, with 32% designated as non-market.
- Provincial government participation is noted as absent from the housing announcement.
Financial Post - Banking • 2026-08-21
The Business Development Bank of Canada (BDC) plans to expand lending into sectors supporting economic sovereignty, following a successful foray into the defenc
AI summary
The Business Development Bank of Canada (BDC) plans to expand lending into sectors supporting economic sovereignty, following a successful foray into the defence industry. The BDC reported a record $11.6 billion in new investment and financing for small and medium-sized businesses in the past fiscal year, alongside a net income of $1.04 billion. Future strategic lending will focus on areas like critical minerals and quantum computing, mirroring models of international development banks.
Key takeaways
- BDC is expanding lending to bolster economic sovereignty.
- BDC reported record $11.6 billion in financing for SMEs.
- BDC achieved $1.04 billion in net income.
Globe and Mail - Business • 2026-08-20
Canadian financial institutions, including RBC, Scotiabank, TD Bank, National Bank, and Manulife, are updating employee policies to restrict participation in pr
AI summary
Canadian financial institutions, including RBC, Scotiabank, TD Bank, National Bank, and Manulife, are updating employee policies to restrict participation in prediction markets. These new rules aim to prevent conflicts of interest and potential insider trading, particularly for employees with access to material non-public information. The measures follow similar actions taken by U.S. financial firms in response to the growing popularity of these platforms.
Key takeaways
- Canadian banks are restricting employee access to prediction markets.
- Policies aim to prevent insider trading and conflicts of interest.
- New rules align with measures taken by U.S. financial institutions.
Globe and Mail - Business • 2026-08-20
Bank of Montreal is reorganizing its international capital markets business under a single leadership structure, with Richard Couzens expanding his role to head
AI summary
Bank of Montreal is reorganizing its international capital markets business under a single leadership structure, with Richard Couzens expanding his role to head international capital markets. This move comes as Canadian banks continue to focus on diversifying their business abroad through capital markets. The bank's Asia head, Chris Taves, is set to retire in early 2027.
Key takeaways
- BMO reorganizes international capital markets leadership.
- Richard Couzens to lead international capital markets.
- Asia head Chris Taves to retire in early 2027.
Globe and Mail - Business • 2026-08-20
The founder of China Evergrande Group, the world's most-indebted property developer, has been sentenced to life in prison by a Chinese court. This development f
AI summary
The founder of China Evergrande Group, the world's most-indebted property developer, has been sentenced to life in prison by a Chinese court. This development follows the firm's collapse five years ago, which significantly impacted China's economy and financial markets. The article does not contain information relevant to Canadian banking, mortgage policy, bank earnings, regulatory changes, or the Canadian housing market.
Key takeaways
- Evergrande founder sentenced to life in prison.
- Evergrande's collapse impacted China's economy.
- Article lacks Canadian financial news.
TD - Media Room • 2026-08-20
Raymond Chun, Group President and CEO of TD Bank Group, is scheduled to present at the Scotiabank Financials Summit in Toronto on September 9, 2026. The presen
AI summary
Raymond Chun, Group President and CEO of TD Bank Group, is scheduled to present at the Scotiabank Financials Summit in Toronto on September 9, 2026. The presentation will be accessible via a live and archived audio webcast on TD's investor relations website. TD Bank Group, with $2.1 trillion in assets as of April 30, 2026, operates across Canadian Personal and Commercial Banking, U.S. Banking, Wealth Management and Insurance, and Wholesale Banking.
Key takeaways
- TD CEO to speak at Scotiabank summit.
- Presentation webcast will be available online.
- TD reported $2.1 trillion in assets in April 2026.
Globe and Mail - Business • 2026-08-20
CIBC has appointed Prasanna Gopalakrishnan, a veteran tech executive with extensive experience in financial services, technology, and artificial intelligence, t
AI summary
CIBC has appointed Prasanna Gopalakrishnan, a veteran tech executive with extensive experience in financial services, technology, and artificial intelligence, to its board of directors. Her appointment, effective September 1st, aims to leverage her deep expertise in these areas for the bank. Gopalakrishnan's background includes leadership roles at ADP, Sky, and Bank of America.
Key takeaways
- CIBC adds tech executive Prasanna Gopalakrishnan to its board.
- Gopalakrishnan brings expertise in financial services, tech, and AI.
- Appointment is effective September 1st.
Globe and Mail - Business • 2026-08-19
Royal Bank of Canada has appointed former Ontario minister Caroline Mulroney as vice-chair, leveraging her public service and financial expertise to strengthen
AI summary
Royal Bank of Canada has appointed former Ontario minister Caroline Mulroney as vice-chair, leveraging her public service and financial expertise to strengthen global client and business leader relationships. Her role will involve advising on evolving government policy and regulatory developments impacting clients, particularly during a period of US and European business expansion for RBC. This appointment follows a similar move by CIBC, which hired Mark Mulroney, Caroline's brother, to lead its CEO office.
Key takeaways
- RBC hires Caroline Mulroney as vice-chair.
- Mulroney will advise on policy and regulatory changes.
- Appointment occurs during RBC's global expansion.
Globe and Mail - Business • 2026-08-19
A recent survey indicates that most Canadian homeowners are managing increased mortgage payments as interest rates remain elevated, with delinquency rates stayi
AI summary
A recent survey indicates that most Canadian homeowners are managing increased mortgage payments as interest rates remain elevated, with delinquency rates staying low compared to other developed nations. While a significant portion of homeowners anticipate higher payments upon renewal and expect financial strain, the majority plan to absorb these costs through reduced discretionary spending rather than changing living arrangements. Despite concerns, a widespread mortgage default crisis has not materialized, with only a small percentage reporting missed payments or extended amortization periods.
Key takeaways
- Most Canadian homeowners are managing higher mortgage payments.
- Mortgage delinquency rates remain remarkably low in Canada.
- Many homeowners will reduce discretionary spending to meet higher payments.
Financial Post - Banking • 2026-08-19
A recent Royal LePage survey indicates that over a third of Canadian homeowners renewing mortgages taken out during the pandemic anticipate higher payments due
AI summary
A recent Royal LePage survey indicates that over a third of Canadian homeowners renewing mortgages taken out during the pandemic anticipate higher payments due to increased interest rates. Despite this, a significant majority plan no changes to their living arrangements, with many expecting to reduce discretionary spending. While anxieties exist, particularly in major urban centers, overall mortgage delinquency rates remain below pre-pandemic levels.
Key takeaways
- 38% of Canadian mortgage holders expect higher renewal payments.
- 71% of homeowners will not change living arrangements.
- Mortgage delinquency rates are below pre-pandemic levels.
Globe and Mail - Business • 2026-08-18
Canada Mortgage and Housing Corp. reported that the annual pace of housing starts slowed by 5% in July compared to June, reaching a seasonally adjusted annual r
AI summary
Canada Mortgage and Housing Corp. reported that the annual pace of housing starts slowed by 5% in July compared to June, reaching a seasonally adjusted annual rate of 229,074 units. Actual housing starts in urban centres with populations over 10,000 decreased by 19% year-over-year in July. Despite the slowdown in new starts, the number of completed construction units rose 8.1% from June.
Key takeaways
- National housing starts pace fell 5% in July.
- Urban housing starts down 19% year-over-year.
- Completed construction units increased 8.1% in July.
Globe and Mail - Business • 2026-08-17
Inflation in Canada rose to 3% in July, primarily driven by a significant increase in gasoline prices, while food cost pressures eased slightly. Despite this r
AI summary
Inflation in Canada rose to 3% in July, primarily driven by a significant increase in gasoline prices, while food cost pressures eased slightly. Despite this reacceleration, economists suggest the Bank of Canada can maintain its current interest rate due to mild overall inflation and looming trade risks. The central bank's next interest rate decision is on September 2, with no immediate changes expected.
Key takeaways
- July inflation reached 3%, up from 2.8% in June.
- Gasoline prices were the main contributor to the inflation increase.
- Bank of Canada is expected to hold interest rates steady.
Globe and Mail - Business • 2026-08-17
Royal Bank of Canada is significantly expanding its capital markets operations in Britain and Europe, viewing the region as a major growth opportunity amidst gl
AI summary
Royal Bank of Canada is significantly expanding its capital markets operations in Britain and Europe, viewing the region as a major growth opportunity amidst global trade uncertainty. The bank expects European operations to contribute up to 20% of its capital markets revenue in the coming years, driven by increasing cross-border transactions and a growing interest from Canadian and European businesses. RBC is investing in hiring and services to compete with global investment banks and capitalize on European market share shifts.
Key takeaways
- RBC sees Europe as a key growth area for its capital markets business.
- European operations are projected to contribute significantly to RBC's revenue.
- The bank is increasing investment and hiring in the European market.
Globe and Mail - Business • 2026-08-15
Construction has begun on the $2.3-billion Port of Montreal expansion project in Contrecoeur, Quebec, which aims to increase the port's container handling capac
AI summary
Construction has begun on the $2.3-billion Port of Montreal expansion project in Contrecoeur, Quebec, which aims to increase the port's container handling capacity by 60% by 2030. The project has secured significant financing, including a $1.16-billion loan from the Canada Infrastructure Bank, with further funding details being finalized. Environmental monitoring and mitigation measures are being implemented throughout the construction process.
Key takeaways
- Port of Montreal expansion construction is underway.
- Project aims to boost capacity by 60% by 2030.
- Significant financing secured, with details being finalized.
Financial Post - Banking • 2026-08-14
Accord Financial Corp. reported a net loss attributable to shareholders of $2.79 million for the second quarter of 2026, compared to a loss of $353,000 in the p
AI summary
Accord Financial Corp. reported a net loss attributable to shareholders of $2.79 million for the second quarter of 2026, compared to a loss of $353,000 in the prior year, driven by strategic initiatives including exiting the U.S. market. The company successfully reduced its senior secured credit facility balance and amended terms for its subordinated debentures and Hitzig Notes to support refinancing efforts. Accord is focused on refinancing its bank facility in the fourth quarter to enable future growth in Canadian SME lending.
Key takeaways
- Accord Financial reported a net loss of $2.79 million in Q2 2026.
- Strategic exits and debt restructuring are underway.
- Refinancing the bank facility is a key priority for future growth.
Globe and Mail - Business • 2026-08-14
Economists anticipate a slight increase in Canada's July inflation rate, primarily driven by a rebound in gasoline prices. While food inflation is expected to
AI summary
Economists anticipate a slight increase in Canada's July inflation rate, primarily driven by a rebound in gasoline prices. While food inflation is expected to ease, it will likely remain elevated, with potential for sustained pressure due to global supply chain issues. Despite the uptick in headline inflation, the Bank of Canada is not expected to alter its benchmark interest rate at its next decision.
Key takeaways
- July inflation expected to rise to 2.9% due to gas prices.
- Food inflation may ease but remain above 3%.
- Bank of Canada likely to hold interest rates steady.
Globe and Mail - Business • 2026-08-14
Ontario's HST rebate on new homes is boosting single-family home sales but has had a minimal impact on condo sales, with many areas seeing declines. Meanwhile,
AI summary
Ontario's HST rebate on new homes is boosting single-family home sales but has had a minimal impact on condo sales, with many areas seeing declines. Meanwhile, a growing power infrastructure deficit in parts of Ontario threatens the province's housing development goals, potentially increasing future electricity costs. Home-sharing platforms are also emerging as a novel solution to housing affordability, connecting seniors with spare rooms and students seeking affordable accommodation.
Key takeaways
- Ontario's HST rebate favors single-family homes over condos.
- Power infrastructure limitations hinder new housing construction in Ontario.
- Home-sharing offers an affordable housing solution for seniors and students.
Financial Post - Banking • 2026-08-14
Q-Gold Resources Ltd. has refiled its interim financial statements for the period ending March 31, 2026, to include an omitted compliance statement. This admini
AI summary
Q-Gold Resources Ltd. has refiled its interim financial statements for the period ending March 31, 2026, to include an omitted compliance statement. This administrative update, identified during a routine review by the Ontario Securities Commission, does not alter any previously reported financial results. The company is adhering to standard OSC procedures for transparency regarding this refiling.
Key takeaways
- Q-Gold refiled interim financial statements for March 31, 2026.
- No previously reported financial results were changed.
- The update was for an omitted compliance statement.
Globe and Mail - Business • 2026-08-13
CIBC has appointed Mark Mulroney as the new head of its Office of the CEO, effective immediately. Mulroney, who joined CIBC in November, will lead a team focuse
AI summary
CIBC has appointed Mark Mulroney as the new head of its Office of the CEO, effective immediately. Mulroney, who joined CIBC in November, will lead a team focused on deepening client relationships and connecting the bank's businesses. Roman Dubczak will transition to a senior strategic advisor role and serve as an ambassador for the bank until 2027.
Key takeaways
- Mark Mulroney appointed head of CIBC's Office of the CEO.
- New role focuses on deepening client relationships.
- Roman Dubczak moves to senior strategic advisor role.
Globe and Mail - Business • 2026-08-13
Housing policy in the Greater Toronto and Hamilton Area is not meeting buyer preferences, with a strong demand for single-detached homes contrasting with a surg
AI summary
Housing policy in the Greater Toronto and Hamilton Area is not meeting buyer preferences, with a strong demand for single-detached homes contrasting with a surge in apartment construction. This mismatch is driving up prices for desired housing types and impacting affordability. A shift towards a wider variety of housing options, including ground-accessed homes and townhouses, is suggested to better align supply with buyer demand.
Key takeaways
- Buyer preference leans towards single-detached homes, not apartments.
- Housing policy prioritizes density over buyer preferences.
- Apartment starts have significantly increased, while detached home starts have declined.
Globe and Mail - Business • 2026-08-12
Royal Bank of Canada and BMO have agreed to sell their stake in Canadian payment processor Moneris to U.S.-based Francisco Partners for approximately $2 billion
AI summary
Royal Bank of Canada and BMO have agreed to sell their stake in Canadian payment processor Moneris to U.S.-based Francisco Partners for approximately $2 billion. Industry leaders are raising concerns about data sovereignty and the potential risk to Canada's financial infrastructure with foreign ownership of a major payment processor. The sale requires regulatory approvals, including under the Competition Act and potentially the Investment Canada Act.
Key takeaways
- RBC and BMO selling Moneris to Francisco Partners for $2 billion.
- Concerns raised about Canadian data sovereignty and financial infrastructure.
- Sale is subject to regulatory approvals, including Competition Act review.
Financial Post - Banking • 2026-08-12
Titan Mining Corporation reported a 57% revenue increase to $25.7 million in the second quarter of 2026, driven by a 13% rise in zinc production. The company al
AI summary
Titan Mining Corporation reported a 57% revenue increase to $25.7 million in the second quarter of 2026, driven by a 13% rise in zinc production. The company also saw its adjusted EBITDA grow significantly by 272% year-over-year, reaching $9.6 million. Strategic developments include conditional selection for U.S. Army graphite purification plant opportunities and new customer agreements for its graphite project.
Key takeaways
- Titan Mining reported a 57% revenue growth in Q2 2026.
- Adjusted EBITDA increased by 272% year-over-year.
- The company secured strategic partnerships for graphite production.
TD - Media Room • 2026-08-11
TD Bank Group has announced its intention to redeem US$1.5 billion of its 3.625% Non-Viability Contingent Capital Subordinated Notes due 2031 on September 15, 2
AI summary
TD Bank Group has announced its intention to redeem US$1.5 billion of its 3.625% Non-Viability Contingent Capital Subordinated Notes due 2031 on September 15, 2026. The redemption price will be par plus accrued interest, with interest ceasing on the redemption date. These redeemed notes will be cancelled and not reissued.
Key takeaways
- TD Bank will redeem US$1.5 billion in subordinated notes.
- Redemption is scheduled for September 15, 2026.
- Redeemed notes will be cancelled and not reissued.