![]() Cryptocurrency, the entire asset class, will be treated like a "specific investment". This also extends to PM'ing users because of comments they made on this subreddit.Ĥ) All specific investment recommendations will be removed. We expect that users do not use this forum to build a brand, for financial gain, or to attempt to gain traffic or users. ![]() This includes solicitation of referrals, posting your own blog, video channel or personal website, and recommendations for users to do business with you. ![]() Comments suggesting that sharing financial information in a personal finance subreddit is a "humblebrag" will be removed. Refrain from "judging" the financial situation of others - whether their situation is dire or well-off. You can feel free to be "harsh", but never insulting. ![]() This covers a very wide variety of topics, including banking, employment, budgeting, minimizing recurring or popular expenses, advice for large purchases, and more.īe patient with others. Personal Finance Canada Discord: AMAs Person / CompanyĪuto Budget Credit Debt Employment Housing Investing Retirement Taxes Meta Banking Misc Estate Insurance Rulesġ) Posts must be about personal finance in Canada The topic of "personal finance" includes budgeting, goal planning, taxation, saving, investing, banking, credit cards, insurance products, life event planning, major purchase advice, unique deals and tips for frugality, employment and other income sources, global or national economic news and discussions, and a variety of similar topics. banks - JPMorgan Chase, Bank of America, Citigroup and Wells Fargo - had more diversified funding.This subreddit is a place to discuss anything related to Canadian personal finance. The five closest regional banks - Capital One Financial, First Republic Bank, Ke圜orp, M&T Bank and U.S. At the end of 2022, Silicon Valley Bank depended on short-term customer deposits to finance more than 80 per cent of its US$212 billion in assets. Silicon Valley Bank’s vulnerability can be seen by comparing its balance sheet to its peers. regulators seized the bank to stop the bank run. When this news spread over social media, it led to rapid online withdrawals of deposits that drained Silicon Valley Bank’s cash reserves. Facing a potential credit downgrade, the bank tried but failed to raise equity to shore up its balance sheet. The rise in interest rates over the past year resulted in US$2 billion of losses on Silicon Valley Bank’s bonds. This advertisement has not loaded yet, but your article continues below. This maturity mismatch may be profitable in good times, but can wipe out an investor in bad times. It used short-term cash deposits from technology clients to buy longer maturity U.S. Silicon Valley Bank ran a risky business. The first step to assessing any vulnerability in Canada is understanding why Silicon Valley Bank failed. But for smaller, niche financial service firms, recent history suggests they should not be complacent. highlights the vulnerability of its niche business model in the digital age.Ĭould something similar happen in Canada? For the largest Canadian banks, the answer is no. The failure of the 16th-largest bank in the U.S. Silicon Valley Bank was exposed last week by rising interest rates, leading to an old-fashioned bank run - where the bank’s customers rush to withdraw their money all at once. Activate your Online Access Now Article content If you are a Home delivery print subscriber, unlimited online access is included in your subscription.
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