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Department of Finance

The Department of Finance Canada is the federal government's main engine of research, advice and analysis on national economic and financial affairs, including fiscal policy, debt management and taxation.

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Canada Savings Bonds

Canada Savings Bonds differ from other government bonds in that they can be cashed at any bank for the face value plus accrued interest. They cannot be sold by the original buyer but must be held until cashed or until they mature (usually in 7 years) from the time they were bought.

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Crop Insurance

Crop Insurance An all-risk crop-insurance program is available to Canadian farmers under the authority of the federal Crop Insurance Act (of 1959) and through concurrent and complementary legislation enacted by each province.

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Gluskin Sheff + Associates

Gluskin Sheff + Associates (GSA) is a small, personalized investment management firm overseeing investment portfolios of $3 million or more. Its clientele includes "high net worth" individual and institutional (eg, pension funds, charities) investors from North America and beyond.

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Credit Card

A credit card is a card authorizing the holder to make purchases on credit. Credit cards are issued by financial institutions and non-financial businesses (eg, department stores, gasoline companies).

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Chartered Banks in Canada

Chartered banks, sometimes known as commercial banks, are public corporations that are licensed by the federal government to operate a banking business within Canada. By issuing these licenses (or charters), the Canadian government regulates and controls the country’s economy by influencing the amount, availability and distribution of money, and the terms or cost of accessing and distributing that money (interest rates). Chartered banks are regulated by the federal Bank Act and supervised by the Office of the Superintendent of Financial Institutions. Chartered banks in Canada accept deposits from the public and extend loans (such as mortgages) for personal, commercial, and other purposes. Banks also own and operate trust companies, securities dealers and insurance companies and offer such services as investment banking, international banking and more.

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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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Municipal Finance

Municipal finance is concerned with the revenues and expenditures of municipalities. Revenues are secured from local taxes (see TAXATION) and other local revenues and from provincial and federal grants.

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Income Trusts

Income trusts present an opportunity for investors to participate in a cash-flow stream generated by certain assets of an operating company.

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Mutual Funds

An investment company may have many different mutual funds, each fund possessing different objectives and asset classes. The objectives, trading activity and asset classes of mutual funds vary widely but must be clearly stated to the investing public in a fund's prospectus.

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Balance of Payments

The balance of payments, or balance of international payments, is an accounting statement of the economic transactions that have taken place between the residents of one country (including its government) and the residents of other countries during a specified time, usually a year or a quarter.

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Accounting

Accounting is the process of measuring and reporting on the financial activities of organizations. Accountants must select from a large number of events those which affect an organization and can be measured financially; the events selected and measured are then presented in financial reports.

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Public Finance

The relative importance of government expenditures in the Canadian economy has risen dramatically over the past 70 years, from 15% of the Gross Domestic Product (GDP) in the late 1920s to 40% of GDP in 1980 and 50% in the early 1990s.

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Stock and Bond Markets

After shares are issued they may be listed on various stock exchanges and bought or sold through brokerage firms. Shares may be listed on a stock exchange if the companies have the size, stability and financial strength and are willing to report publicly on their operations.