The Mudcat Café TM
Thread #115135 Message #2461892
Posted By: gnu
10-Oct-08 - 06:45 AM
Thread Name: BS: World's soundest banking system is in...
Subject: RE: BS: World's soundest banking system is in...
Minds me of the old tune Jimmy Flynn used to sing... Jesus Saves.... went sommat like... Jesus put his money in The Bank of Nova Scotia, and he never ever ever got it back....
We have two federal government banks (one being a regulating bank and one being a business developement bank) and six "big" banks, commonly called chartered banks. The big banks are classified as Schedule 1 Banks, but there are also a dozen other smaller banks that have quailfied as S1 by following strict regulations.
One of the smaller banks is the Canadian Tire Bank and it actually prints it's own money and has a large chain of gas stations and soup-to-nuts stores from coast to coast. That's the reason for the high rating.