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I have chosen to research about the Bank of Canada and other Finical institutions for many reasons, I hope to learn more information about which bank will be best for me in the future, to learn about the different types of finical institutions they are in Canada and to research the pro and cons of each different type of Bank. By the end of this project I hope to have a better understanding of the banking options available to me and how to utilize them in the future.

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The first video I have chosen for this project is a very good descriptive video on what are banks, what do they do and how credit can help you to be successful in the future.  It is a great overall view of the banking systems of the world, how they work, how they make income and generate money for our economy to grow. I understand that this is only the being steps to learning about the Canadian banking systems and many other things to learn and understand about credit. With understanding the basics, it will become easier to understand the trickier systems of the Bank of Canada.

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This is a great tool for a beginner to learn the basics of banking in Canada, the types of banks Canada has to offer and the difference between styles of banks.  I enjoyed learning about how credit unions may be more of a reliable source compare to commercial banks and large companies. I believe that this is a good video to show the basic styles of banking in Ontario and how they can be used to your advantage based on the type of accounts you are looking to invest in. In conclusion, I enjoyed what I have learned from this video and I will consider my options to use commercial banks going forward.

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Video #3: The New Way to Bank: Free Bank

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Video #3: The New Way to Bank: Free Bank

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There is a lot of controversy over the use of new technology such as, online banking, free banking and online money management. Although I do not have a lot of experience with free banks online, I do know how easy it is to manage my money online with my current banking app and I do see convenience of it. This video is a good defense to the online banking and shows a lot of positive points that defends there online banking companies. Overall, I do believe that this is a very useful and informative video that shows some of the truths to online banking.

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Video #4: What Happens When The Bank Wants Us to Pay More? 

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Video #4: What Happens When The Bank Wants Us to Pay More? 

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In this video it explains how the Bank of Canada is in control of the interest rates that set the standard all across Canada, and how an everyday Canadian can be effected from the change of interest rates based on the Bank of Canada’s standard. This video shows how high interest rates affect the cost of housing, the bank interest rates, investment interest rates and overall an increase in cost to the average Canadian. I do believe that the standard interest rate set by the Bank of Canada does affect our everyday lives as Canadians and if we have the opportunity to invest in our market with low interest, we should.

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Bank of Canada raises rate — what does it mean for you?

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Website #1: Types of Financial Institutions 

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Website #1: Types of Financial Institutions 

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This is a website that explain what the three types of financial institutions there are, gives a very good definition of each institution and gives examples of each. The three major types of financial institutions are Banks, Trust Companies and Credit Unions, each have different options for storing, saving or investing your money. Keep in mind the time frame you are wanting to invest, the amount of money you need to store and how you want to access your money. In conclusion, do your research and find out which financial institution works best for you.

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What kinds of financial institutions are there?

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There are different types of financial institutions, such as banks, trust companies and credit unions.

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Website #2: Types of Financial Institutions in Canada and Ontario 

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Website #2: Types of Financial Institutions in Canada and Ontario 

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Although there are many options for banking world-wide and outside of Canada, the three main financial institutions used in Ontario are Deposit-taking institutions, Insurance companies and Investment institutions. Deposit taking institutions include banks, credit unions, trust companies, mortgage loan companies and building societies. Insurance companies sell insurance to protect your assets in case of theft, damage or fire. Investment companies, help you invest your money and grow the Canadian Market. Overall, there are many ways to invest, earn and protect yourself from all with the financial institutions that are available to all Ontarians.

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Financial institutions provide financial services to their clients and they are highly regulated by the government. Essentially, financial institutions help their clients facilitate the flow of money through the economy. Generally speaking, there are three types of financial institutions in Canada: deposit-taking institutions, insurance companies, and investment institutions.

Deposit-taking institutions

Deposit-taking institutions include banks, credit unions, trust companies, mortgage loan companies and building societies. Deposit-taking institutions refer to any entity that accepts deposits as an ordinary course of business. They act as an intermediary for their clients by accepting and managing deposits as well as making loans. Most banks only hold a small reserve of the funds deposited and lend out the rest in order to make a profit. This is called fractional reserve banking.

Insurance companies

Insurance companies sell insurance against the risk of loss (which can be due to various factors, such a property damage, death, job loss etc.). The insured party makes payments, called premiums, to the insurance company and in exchange the insurance company promises to compensate the insured in the case of loss covered by the insurance policy.

In addition, specified insurance companies are insurance companies that issue (or is obligated to make payments with respect to) cash value insurance contracts or annuity contracts.

Investment institutions

Generally, the main business of an investment institution involves investing, administering or managing funds or money on behalf of other persons. Investment institutions include investment banks, underwriters and brokerage firms. These institutions assist their clients in raising capital by acting as agent and/or the underwriter in the issuance of securities, such as stocks and bonds.

The functions of the various financial institutions can overlap, such as banks offering mortgage insurance and insurance companies offering an investment component to their life insurance policies.

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Types of financial Institutions - Legal Line

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Financial institutions provide financial services to their clients and they are highly regulated by the government. Essentially, financial institutions help their clients facilitate the flow of money through the economy. Generally speaking, there are three types of financial institutions in Canada: deposit-taking institutions, insurance companies, and investment institutions.

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This is an outside view of the Bank of Canada Building located in Ottawa. Being the bank of Canada it is only fit to reside in our nation’s capital.

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This is the official Bank of Canada website and has a reference to the financial systems in here in place in Canada. It is a very good over view of what financial systems we have in place in Canada and how you can use them to your advantage. Being from the Bank of Canada website it is a very reliable source for Canadians to use as it is coming straight from the government. I would highly recommend you taking a look over this website to see what options are available for you to use and to learn about how our systems in Canada work.

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A stable and efficient financial system is essential for sustained economic growth and rising living standards.

The Bank of Canada promotes the economic and financial welfare of Canada by fostering a stable and efficient financial system, which includes banks and credit unions, the financial markets, and clearing and settlement systems. The Bank does this by:

In addition to promoting a sound financial system at home, the Bank contributes to international discussions on important financial system issues, collaborates with other central banks on research into the international financial system and provides technical assistance. The Bank of Canada:

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Canada's financial system consists of financial institutions, such as banks and credit unions; the financial markets; and payments systems.

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This is an overview of the Bank of Canada's financial systems review, a yearly review that allow the government to see how there systems are working and what we can do to improve them. The first step is to increase the housing markets value allowing for increase in equity in your home. The second point is lowering the interest rate that are used within the financial systems.  In conclusion, this is a report with a lot of very useful information contained inside. I highly recommend that you look over the financial system reviews to see how the systems are working.

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The Bank of Canada appears cautiously optimistic that new mortgage rules can successfully take risks out of the housing market and financial system, but it won't happen overnight.

Here are five things you should know about the bank's semi-annual Financial System Review.

1. The bank sees Canada's record household debt as the "most important vulnerability" to the financial system. And the large share of that debt held buy highly indebted households (those that owe more than $4.50 for every $1 of disposable income) is particularly concerning.

2. Extending mortgage stress tests to all borrowers is expected to decrease the percentage of new mortgages taken on by highly indebted borrowers.

3. Those new stress tests under OSFI's B-20 regulation are expected to lessen the risks to the financial system, but a "significant decline in the overall vulnerability may take several years." Why? Simply put, there's a large pile of existing debt for Canadians to work through.

4. It's not entirely clear how homebuyers will react to the new stress tests. While some may buy less expensive homes or wait to save more for a down payment, others may take their business elsewhere. Lenders that aren't subject to the new rules include credit unions and the shadow banking sector (private lenders and mortgage investment corporations).

5. While foreign buying has cooled in Vancouver and Toronto in the wake of new taxes, the bank says there's a chance it will "rebound or migrate to other Canadian cities."

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5 key takeaways from the Bank of Canada's Financial System Review - BNN Bloomberg

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The Bank of Canada appears cautiously optimistic that new mortgage rules can successfully take risks out of the housing market and financial system, but it won't happen overnight. Here are five things you should know about the bank's semi-annual Financial System Review. 1.