Browse "Business & Economics"

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Bank Rate

The bank rate is the minimum interest rate charged by the Bank of Canada in its role as lender of last resort on short-term loans to the chartered banks and other members of the Canadian Payments Association that maintain deposits with the Bank, as well as to investment dealers.

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Bank of British Columbia

Bank of British Columbia, a bank chartered in 1966 with headquarters in Vancouver. In 1986 it had 1410 employees and maintained branches in BC and Alberta, as well as offices in the Cayman Islands, the US and Hong Kong. Assets in 1986 were $2.

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Bank of Canada

The Bank of Canada (BoC) is the country’s central bank, a financial institution that provides banking services on behalf of the federal government. Its operations include four principal functions: to manage the country’s money supply; to act as the federal government’s agent in issuing its bonds and managing its holdings of foreign currencies; to manage various monetary policies that can influence the performance of the economy, such as interest rates; and to manage the overall financial industry in Canada and economic relations with other countries and international organizations. The Bank of Canada’s headquarters are in Ottawa.

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Bank of Montreal (BMO)

The Bank of Montreal was founded in 1817, making it Canada’s oldest incorporated bank. From its founding to the creation of the Bank of Canada in 1935, the Bank of Montreal served as Canada’s central bank. Today, the various components of the Bank of Montreal are collectively known as BMO Financial Group. It’s Canada’s fourth largest bank by assets, and the eighth largest in North America. It offers services in three distinct areas — personal and commercial banking, wealth management, and investment banking. BMO is Canada’s fourth largest bank by assets, and the eighth largest in North America. It offers services in three distinct areas — personal and commercial banking, wealth management, and investment banking. BMO is a public company that trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BMO. In 2017, BMO registered $22.2 billion in revenue and $5.3 billion in profit and held $709.6 billion in assets. BMO employs 45,200 people, who serve more than 12 million customers.

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Bank of Nova Scotia (Scotiabank)

The Bank of Nova Scotia, commonly referred to as “Scotiabank,” is Canada’s third largest chartered bank. Incorporated in 1832, the bank has established itself as Canada’s most international bank through extensive operations throughout Latin America, the Caribbean, Central America and parts of Asia. It is also known as “Canada’s gold bank” because of its dominant position in bullion trading. The bank also operates three other business lines: personal banking, commercial banking, and wealth management. Scotiabank is a public company that trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BNS and on the Trinidad and Tobago Stock Exchange under the symbol SBTT. In 2017, Scotiabank registered $27.1 billion in revenue and $8.2 billion in profit and held $915.3 billion in assets. The bank employs 88,645 people, who serve 24 million customers in nearly 50 countries.

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Bank of Nova Scotia, Halifax

The Bank of Nova Scotia is located on Hollis Street across from Halifax's most iconic structure, Province House. Extremely sensitive to the location, Lyle felt it was important to echo some of the latter building's classical features.

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Bank of Upper Canada

Bank of Upper Canada, chartered 21 April 1821, commenced operations at York (Toronto) July 1822. It owed its origins to pressure from the commercial community, to close links with the Family Compact, and to the local government's hope that a bank would provide it with sorely needed capital.

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Banking in Canada

Banking is a financial process carried out by an institution that accepts deposits, lends money and transfers funds. Canada's major banks play a vital role in the economy and today also engage in the insurance, trust and securities markets. Their business, the technology surrounding it and the regulations that govern it, have evolved continuously over the centuries.

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Bankruptcy

Bankruptcy is a legal process, governed by the Bankruptcy and Insolvency Act, that provides financial relief for debtors and a protection for creditors.

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Barter

Barter is the exchange of one commodity or service for another without the use of money as a medium of exchange. A barter agreement (also called "countertrade") among countries calls for the exchange of stated amounts of goods.

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Beaver Club

Beaver Club, Montréal club, founded in 1785. Admission was restricted to fur trade veterans of the pays d'en haut.

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Beaver Records Ltd.

Beaver Records Ltd. Company established in 1950 by the Toronto lawyer, musical patron, and supporter of the Toronto Mendelssohn Choir F.R. MacKelcan (1882-1962), with the purpose of recording the choir.

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Bell Canada Enterprises Inc

HistoryIncorporated by an act of Parliament on 29 April 1880, the Bell Telephone Company of Canada (today Bell Canada) received by its charter the right to construct telephone lines alongside all public rights-of-way in Canada, a most valuable privilege.

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Bell Piano and Organ Co.

Bell Piano and Organ Co. Instrument-manufacturing firm. Established in 1864 in Guelph, Canada West (Ontario) by the brothers William and Robert Bell with a staff of three, it produced 25 four-legged 'Diploma' melodeons in its first year.