Banking Environment
Economic & Political Environment
Canada’s Central Bank, The Bank of Canada, is principally responsible for Interest Rates and the Economic Policy of the country. Canada’s largest trading partners are the United States and Mexico and all three countries are members of NAFTA (The North American Free Trade Alliance).
Banking in General
The Canadian Banking industry is made up of 6 major Banks, plus an array of smaller financial/deposit taking institutions (regional banks, trust companies, credit unions, caisse populaires). Most financial institutions (including Banks) are regulated by the Government of Canada.
Currency
Canadian Dollar (CAD).