BUSINES

S 8

Finan

ce: M

oney

& B

ankin

g

Keyboarding

KEYBOARDING TIP OF THE DAY

Home Row

Remember the home row has groves (raised surfaces) on their keys

so you can find them without looking

Remember try not to look at your hands or the keys. Try to get used to finding the

home row

Continue on with All the Right Type (ART) for 5 minutes today

Keyboarding Activity

BUSINES

S 8

Finan

ce: M

oney

& B

ankin

g

Banks & Banking

What comes to mind when you think about a Bank?

What do they do? Why do we go there? How do they

help the people?

Bank Definition

A financial institution licensed as a receiver of deposits. Their primary function is to handle money. Banks manage withdrawals and deposits as well as supplying loans

Our big banks are called commercial/retail banks.

Bank Definition

In most countries, banks are regulated by the national government or central bank.

The government oversees (controls) and protects the wealth of a nation

In Canada banks must be given a charter or license to operate by Federal parliament.

Bank Definition

Canadian Banks use a branch banking system

Canada allows only a few banks with each having many offices

This is very safe, never a failure in Canada's history.  In contrast with US where thousands of banks, lots of failures

Bank Definition

Our government watches all bank activity, especially: bank reorganizations (mergers) and foreign banks

Since confederation, no foreign banks have been allowed in Canada (fear of US domination)

And unless necessary, few mergers too

The BIG 6 Canadian Banks

1. Royal Bank2. Bank of Montreal3. Canadian Imperial Bank of Commerce4. Toronto Dominion5. Bank of Nova Scotia6. HongKong Shanghai Banking

Corporation

RBC, The Royal Bank

Royal Bank, Canada's biggest bank  1500 branches, profits around $10-12 Billion annually,

Originally founded as Royal Bank of Halifax in 1795, sold to Montreal business people in 1826 and name was changed to Royal Bank of Canada

BMO, The Bank of Montreal

Bank of Montreal, 4th biggest bank in Canada, claims to be Canada's oldest, founded in 1821. 

BMO uses the "First Bank" theme extensively

CIBC, The Canadian Imperial Bank of Commerce

CIBC  2nd largest bank, result of 1950's merger between Imperial Bank of Canada, and Canadian Bank of Commerce

TD, The Toronto Dominion

TD, 3rd biggest bank.  The result of 1950's merger of Bank of Toronto and Dominion Bank of Canada.

In 1990 TD purchased the Calgary/Vancouver based  Canada Trust (which had long hours, as opposed to the old banking hours of 10:00am-3:00pm.  TD keeps the Canada Trust name, because it is favourably associated with long hours.

The Bank of Nova Scotia

Bank of Nova Scotia, 5th biggest bank, quite a bit smaller than the previous 4, but very profitable,

Scotia Bank plays with high risk foreign exchanges and gold speculation. 

It is the largest bank in many Caribbean countries and has a large presence in South America

HSBC, Hong-Kong Shanghai Banking Corporation

HSBC in 1970's started off as the Bank of British Columbia In 1986, the bank was in danger of failing due to large outstanding loans. The gov't of Canada reluctantly agreed

for it to be sold to Hong Kong investors who were pouring into Vancouver ahead of 1997 (the year Hong Kong went back to China). So Canada got a partially foreign bank. HKBC, Hong Kong Bank of Canada. 

HSBC, Hong-Kong Shanghai Banking Corporation

In 1999, this bank was bought out by the international banking giant HSBC, Hongkong Shanghai Banking Corporation.  So we now have a completely foreign-

owned bank in Canada, even though it is specifically disallowed by federal rules.  But it has not been a problem, so the government has turned a blind eye to it.

Bank of Canada• It is Canada’s Central Bank• Not a commercial bank, it does not

offer banking services to the public• It makes sure that our banking

system continue to work

CDIC, Canadian Deposit Insurance Corporation• Not a commercial bank, no public

services• It protects the peoples money in case

of bank failure• It is a “fail-safe” and will “bail-out” a

bank in needed (last resort)

Scavenger HuntYou guys are now the teachers. In groups of 4 or 5 you will use your computer and research your assigned bank.

As a group you will try to find out some new, different or interesting things about your bank and then share your findings with the class.

Together, as a group, make a list of 10 things you learned about your bank.

Class Discussion

Time to report out and tell us what you learned

Money Assignment

Use the rest of the class time to work on your money assignment

Exit Slip

1. What is something new that you learned about banks and banking?

2. Would you like a credit card from a major bank? What are the advantages and disadvantages of having a credit card?

3. Would you prefer to do business with a major bank (one of the big 6) or a smaller one (local community bank)?)

Class Notes

You can find my notes at UBC Blogs under my name: Mr Vatougios

https://blogs.ubc.ca/mrvatougios/