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Banks' exposure to loans backed by residential real estate more than $1 trillion

Once upon a time, loans made by the big Canadian banks were split evenly between personal and commercial ones. But as they grew, the banks tilted heavily toward a mix of loans that is now as much 75 per cent to households versus institutions and businesses. 819 more words

Real Estate

Ficom staff shortage handicaps oversight of B.C. credit unions: auditor general

B.C.’s auditor general has warned the province’s oversight agency for credit unions is handicapped by an acute staff shortage.

On Thursday, Auditor General Carol Bellringer released an audit saying that despite repeated efforts a staff shortage continues to plague the Financial Institutions Commission, often called Ficom. 576 more words

British Columbia

Auditor says B.C.'s salary cap preventing full audits of credit unions

VICTORIA — British Columbia’s auditor general says a staffing shortage at the Financial Institution Commission is hampering the review process for provincial credit unions.

Carol Bellringer’s progress audit on credit union supervision says there’s a 37 per cent vacancy rate for staff at the commission, and without more staff it’s unable to meet the goal of reviewing all credit unions every two to three years. 194 more words

British Columbia

Parents can now access grant for kids at BMO

Parents can now apply for the $1,200 B.C. Training and Education Savings Grant at BMO as well as at 350 credit unions in the province. 108 more words

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