ECON201 Lecture Notes - Lecture 12: Shadow Banking System, Credit Union, Seigniorage
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ECON201 Full Course Notes
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Document Summary
1. recognize the key features of the canadian banking system and the historical context. 2. explain how financial innovation led to the growth of the shadow banking system. 3. identify the key structural changes in the chartered banking industry. 4. summarize the factors that led to consolidation in the chartered banking industry. 5. assess the reasons for separating banking from other financial services through legislation. 6. summarize the distinctions between chartered banks and near banks (trust and load companies and credit unions and caisses populaires) 7. identify the reasons for canadian banks to operate in foreign countries and for foreign banks to operate in canada. Timeline of the early history of commercial banking in canada. Modern banking industry in canada began with the creation of the bank of montreal in 1817. Historical development of the canadian banking system: the free banking experiment. The free banking act was passed in canada in 1850.