Word: canadians
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Dates: during 1990-1999
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Second, Canada stands at the opposite end of the spectrum from the U.S. with respect to the structure of its banking industry: in 1995, the five largest U.S. banks controlled 9.7 percent of U.S. domestic assets. In contrast, the five largest Canadian banks controlled 58.1 percent of Canadian domestic assets. Furthermore, Canada's banking is also less regulated: many of the regulatory constraints being challenged by recent U.S. mergers were removed almost ten years ago in Canada--everything from permitting banks to enter stock brokering to selling insurance...
...banks really do pose a threat to the public, then Canadian consumers should have long ago begun chaffing under the weight of this market structure. But they haven't. The reason is simple: the Canadian banking system is just better than that of the U.S. For example, service charges are lower in Canada than in the U.S. As a result, Canadian banks are forced to rely much more heavily on net interest income as a source of profits...
...interest income is a function of the interest spread--the difference between the rates charged to borrowers and the rate paid to depositors. Given that Canadian banks are reasonably profitable, ranking just behind the U.S., you'd think that this means that the spread is much higher in Canada. It's not. Historically it has been consistently lower, and over the last five years, it has been fully one-third lower than...
...addition, Canadian banks are among the most innovative in the world. Debit and stored value cards were pioneered in Canada, while both are still just catching on in the U.S. Also, Internet banking is more advanced in Canada, with a higher percentage of bank customers using computer-based distribution channels, despite lower PC penetration...
When he was nine, ERIC CLAPTON discovered the woman he thought was his older sister was really his mother. Now that he's 53, other members of his family have popped up. The Canadian papers have unearthed TED RICH, once an up-and-coming Vancouver guitarist, now a heroin addict living in a flophouse. He and Clapton were both fathered by Edward Fryer, a Canadian soldier who met Clapton's mother in Britain during the war. Rich also has a sister, living in Florida. Rich says he would like to meet his half brother, but not until...