Bank of Canada and Financial Instituations by https://padlet.com/ashleehardy/uay962i2xhu4ha4a Ashlee Hardy en-us 2021-03-07 16:25:46 UTC 2021-03-16 03:07:55 UTC hello@padlet.com Welcome to my Wall. ashleehardy https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1311294855 I have chosen Bank of Canada and Financial Institutions as my topic of search because I found the topic interesting during our Week 2 class. 
Here my goal is to for you, the viewers, to find some interest in how money is made and where is goes when you deposit the amount into your accounts. ]]> 2021-03-15 15:33:36 UTC https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1311294855 Image #1 ashleehardy https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1312256042 I chose this image because it represents how money is made for the banks and it gives you a clear understanding of where your money goes when you deposit it into you account. ]]> 2021-03-15 18:28:07 UTC https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1312256042 Website #1 ashleehardy https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1312382487 This website is about the Bank of Canada. In this website you can gather information on how the bank operates and by whom, research information, statistics, history, and more. 

I chose this website because, like me, some people may not know who makes the decisions, designs, distributes money in our country, and the duties they perform.  

]]> 2021-03-15 18:54:05 UTC https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1312382487 Video #1 ashleehardy https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1312576541 This video represents the way the future is heading for handling payments and money. This is just confirming my thoughts about how digital technology is taking over. We do not even have a say in the matter. We are being forced to use technology. 

I chose this video because it seems real to me. This is the way the future is heading. Everything is going to be digital. We have started already with the tap and go on credit cards and using our mobile devices to pay for merchandise also with being able to pay bills online.  

]]> 2021-03-15 19:42:45 UTC https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1312576541 Video #2 ashleehardy https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1312904281 This video provides an overview of how to detect counterfeit money and what security features to look for. Also provides you information on what should be done if you suspect you have counterfeit money or have had someone try and give you it. 

As we are moving into the digital world, I feel counterfeit will become a thing in the past. I found this video to be interesting because I only knew of a couple ways to check security features on money notes.  

]]> 2021-03-15 21:32:00 UTC https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1312904281 Website #2 ashleehardy https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1313083312 In this site you will find information about your rights and responsibilities working with a federal financial institution. Most of the banks people work with are federally regulated institutions, however, most credit unions are provincially regulated and may not have the same guidelines as the federal institutions. 

I chose this site, because I think it is important for people to know when dealing with financial institutions along with anything in life you should know your rights and responsibilities. This site also provides you with information if you feel you are not being respected by your institution, who to contact. 

]]> 2021-03-15 23:03:19 UTC https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1313083312 Website #3 ashleehardy https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1313103147 Within this website you will find some quick statistics about the banking system in Canada. Some interesting stats that popped out to me where the number of online banking transaction completed at the six largest banks in 2017: 574 million, the mobile banking transactions completed with the largest banks in 2017: 398 million, and the percentage of Canadians who believe that banking has become more convenient because of updated technology: 91%. 

I found this site interesting because it provides you with some recent activity and gives you the insight of how active the banks are still. 

]]> 2021-03-15 23:14:38 UTC https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1313103147 Video #3 ashleehardy https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1313145905 This video is about the Office of the Superintendent of Financial Institutions (OSFI). They are the ones who back up the financial system. They monitor and regulate the federal registered banks, loan companies, and private pension plans subject to federal oversight to make sure they are in good financial standings. 

I chose this video to give the awareness that you need to be planning all the time for unforeseen circumstances such as what we are facing currently in the Pandemic. If the banks do not keep one foot in front all the time, then Canada may fall back down like we did in 2008 with the lack of money available for people.  

]]> 2021-03-15 23:38:51 UTC https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1313145905 Video #4 ashleehardy https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1313437008 This video has a great analogy behind it. Within this video it demonstrates what would happen to the financial system if people did not repay loans regularly and quickly. People and businesses rely on the strong economy, because without money being readily available, we would be in a crisis.

This video is important to understand the financial system and the way it works. If you can understand this analogy, then you would be helping not only yourself but others, such as businesses in the future to get loans.     

]]> 2021-03-16 01:31:02 UTC https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1313437008 ashleehardy https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1313682523 1.      What did you learn about your topic that surprised you the most?
What surprised me the most about this topic was, the fact, the money you deposit into your account does not actually go to your account. The banks use it to provide people and businesses loans. As shown in the first image provided, only 10% of deposits are saved in the banks. 
2.      Provide a real-life example of how this topic is relevant or interesting for you.
This topic is interesting to me because I had no idea where money came from. I knew that the Canadian Mint made the coins, and I thought they made the bills too, but I did not know about The Bank of Canada and the role they play with money.
The Bank of Canada has pretty much the power with money, they control the distribution, and they design.  
3.      If you could pass on your knowledge to a family member or a friend, what do you think is the most important thing to pass on?
If I could pass a thing or two onto my friends and family, would be, to inform them of how money is made and what happens to the money they deposit. I would advice them to gear up for the way the future is heading in the digital world, to know their rights and responsibilities working with a financial institution.  

]]> 2021-03-16 03:07:55 UTC https://padlet.com/ashleehardy/uay962i2xhu4ha4a/wish/1313682523