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A Financial Institution is a company in the business of dealing with money transactions such as deposits, loans, investments and currency exchanges.

Most people have a need to use some or more of these services available at all times in their lives.

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The Bank of Canada was chartered in 1934 under the Bank of Canada Act.
It is responsible for Canada's money policies. They promote a safe and stable financial system for Canada. It is located in Ottawa, Canada.

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This video speaks about how the Bank of Canada works to keeps the financial market in check at all times.

Economists ensure in keeping rates balanced to maintain about a 2% inflation rate. When costs are up -  inflation rates are high, so people spend less and the economy can decline.
When inflation rates are low, stable and predictable people tend to spend more and the economy does well and stays strong.
Economists monitor what is going on in the country and the markets. Rates are then determined depending on what is going on in economy but The Bank of Canada tries to keep inflation rates balanced.
Bank of Canada maintains a confident, stable and a predictable system at all times.

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In plain language, then Governor Mark Carney and eight Bank staffers describe how this complex institution promotes the economic welfare of all Canadians.

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This video talks about how XRP the crypto currency is going to help Canadian banks save up to 48%.

Crypto Currency is a digital money which acts as ordinary money but has no physical counterparts and cannot be carried around. It only exists in electronic form.

This also talks about how when you are trying to convert a crypto currency you can do so without being charged any additional fees on top. This is great for anyone that is into investing as they will maximize the profits can earn.

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Royal Bank of Canada Says Ripple and XRP Can Save Financial Institutions 46% Per Payment

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This video is about The Bank Act which is passed by parliament to regulate Canada's Chartered Banks.

There are 29 domestic banks, 24 foreign subsidiaries, 27 full service foreign branches and 3 foreign lending branches.

Schedule 1 is for domestic banks and Schedule 2 is for foreign banks both are authorized under The Bank of Act to accept deposits which can be eligible for depositors insurance.

There are 5 Big banks in Canada which are known as the "The Big Five" they are:
1. CIBC
2. TD Bank
3. Royal Bank
4. BMO
5. Scotiabank

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New Beginnings Immigration Services Canada

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Different Types of Financial Institutions

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New Beginnings Legal Immigration Services Canada

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An Introduction to Canadian financial institutions.-- Created using PowToon -- Free sign up at http://www.powtoon.com/ . Make your own animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video.

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This video speaks about Financial Institutions. There are 2 Categories in financial institutions, they are Depository and Non-depository institutions.

A Depository Institution is (banks, credit unions)  these are legally allowed to take money from you.

A Non-Depository Institution is (mutual funds, investment trust, pension funds, security firms, insurance companies) is actually the middle man between the savers and the borrowers. They do not accept deposits from individuals or provide traditional banking services. They do however make loans individuals and businesses.

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What are the various kinds of financial institutions and how are they different from each other? What is the difference between a bank and a credit union? In this video, we walk through the basics on the most common financial institutions you're likely to deal with.

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This website shows us all the different banks available in Canada.
It tells us how each bank in Canada is classified, either as a "Big Five or Schedule 1 or 2". It shows us information about their incomes, assets and its employees.  It shows us locations across the country or globe for domestic and foreign banking.

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This is a list of banks in Canada, including chartered banks, credit unions, trusts, and other financial services companies that offer banking services and may be popularly referred to as "banks".

The "Big Five"

Canada's "big five" banks, and a few statistics (2013):

The term "Big Six" is frequently used as well and includes the National Bank of Canada (2013 market cap of $8.9B), though its operations are primarily focused in the provinces of Quebec and New Brunswick.

Banks in Canada are classified by their ownership as domestic banks, subsidiaries of foreign banks, or branches of foreign banks. For a greater explanation of the classifications, see Banking in Canada and Canada Bank Act.

Schedule I banks (domestic banks)

Under the Canada Bank Act, Schedule I are banks that are not a subsidiary of a foreign bank, i.e., domestic banks, even if they have foreign shareholders. There are 30 domestic banks as of September 2016.

On 10 November 2014, Home Capital Group announced that it has applied to charter "Home Trust Bank" under Schedule I.[citation needed ]

Schedule II banks (subsidiaries of foreign banks)

Schedule II banks are banks allowed to accept deposits and which are subsidiaries of a foreign bank. As of October 2015, there were 24 of these banks in Canada, including three in liquidation.

Schedule III banks (branches of foreign banks)

Full service

The following banks are not authorized to accept deposits in Canada of less than $150,000. As of August 2016, there were 28 such banks in Canada.

Lending only

The following banks are prohibited from accepting deposits or borrowing money except from financial institutions. There were four such banks in Canada as of August 2016.

Canada has a strong co-operative financial services sector, which consists of credit unions ( caisses populaires in Quebec and other French speaking regions). At the end of 2001 Canada's credit union sector consisted of 681 credit unions and 914 caisses populaires, with more than 3,600 locations and 4,100 automated teller machines. By the end of 2019, consolidation reduced this number to 251 credits unions and caisses populaires outside Quebec, according to the Canadian Credit Union Association (CCUA). Canada has the world's highest per capita membership in the credit union movement, with over 10 million members, or about one-third of the Canadian population. While the sector is active in all parts of the country, it is strongest in the western provinces and in Quebec. In Quebec 70 per cent of the population belongs to a caisse populaire, while in Saskatchewan close to 60 per cent belongs to a credit union.

Credit unions outside Quebec

As of 31 December 2019, the 251 credit unions and caisses populaires outside Quebec reported combined assets of $256.1 billion:

Desjardins

Most caisses populaires in Quebec (and some outside the province) are part of a network which operates as the Desjardins Group. Desjardins Group owns and operates a range of subsidiaries, including a securities brokerage, a venture capital firm, and a bank based in Florida.

As of 31 December 2015, Desjardins Group's consolidated assets totalled $248.1 billion CAD.

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List of banks and credit unions in Canada

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This is a list of banks in Canada, including chartered banks, credit unions, trusts, and other financial services companies that offer banking services and may be popularly referred to as "banks".

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This website tells you all sorts of important things about The Bank of Canada.

It shows us who runs The Bank of Canada, It speaks of The History of The Bank of Canada, its board of directors. The policies and documents listed have very informative information for use at your finger tips. You can find financial reports and The Bank of Canada Act at this website as well. If you are seeking a career in banking you can also see if there are careers available to you here.

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Separate from the Political Process

The Bank of Canada is a special type of Crown corporation, owned by the federal government, but with considerable independence to carry out its responsibilities. For example:

The Governor and Senior Deputy Governor are appointed by the Bank's Board of Directors (with the approval of Cabinet), not by the federal government.

The Deputy Minister of Finance sits on the Board of Directors but has no vote.

The Bank submits its expenditures to its Board of Directors. Federal government departments submit theirs to the Treasury Board.

Bank employees are regulated by the Bank itself, not by federal public service agencies.

The Bank's books are audited by external auditors appointed by Cabinet on the recommendation of the Minister of Finance, not by the Auditor General of Canada.

Having an independent monetary institution allows for the separation of the power to spend money from the power to create money. Separating the central bank from the political process enables it to adopt the medium- and long-term perspectives essential to conducting effective monetary policy.

The Bank is committed to publishing information about how it works.

Reports, statements, public surveys and plans are available in the governance documents section.

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The Bank of Canada is a special type of Crown corporation, owned by the federal government, but with considerable independence to carry out its responsibilities. For example: The Governor and Senior Deputy Governor are appointed by the Bank's Board of Directors (with the approval of Cabinet), not by the federal government.

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This website is about The Bank of Canada who promotes economic and financial policies for Canada by creating a stable financial system.

They include banks and credit unions, financial markets, and clearing and settlement systems.  They provide central banking services, including liquidity and lender-of-last-resort facilities. They will oversee and act and act as the resolution authority for critical financial market infrastructures. Their research and developments of policies help to implement policy.

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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 website has some very informative information about the  Office of the Superintendent of Financial Institutions (OSFI).
The OSFI regulates and supervises all of the banks in Canada.

There are a number of frequently asked questions on this website with answers given to each one in very informative manner.
There were questions there that I also did not think about which was helpful in gaining more financial knowledge.

I found this website very useful as it answered a lot of questions I still had about the financial institutions. I was able to gain valuable knowledge with this information on this site.

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1. What did you learn about your topic that surprised you the most?
Answer: I was actually surprised that within Canada, 85% of banking Is done only within 5 banks (the big 5) that is incredible to think about considering there are 37.59 million people in Canada

2. Provide a real-life example of how this topic is relevant or interesting
for you.
Answer: this is an important topic for everyone actually. I believe if more people know about the way the bank of Canada and the financial institutions actually work they would be very confident in knowing there are people available to help and invest or borrow or give you the best options for your money. we should be confident in knowing they are there to help us in good and bad times

3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?
Answer: if I can pass on any information to family or friends it would be to do your research when buying or spending. Watch your interest rates and I feel very confident with The Bank of Canada that it will provide us with a stable rate for our economy.