BU111- Midterm Exam Guide - Comprehensive Notes for the exam ( 54 pages long!)
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BU111 Full Course Notes
Verified Note
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Document Summary
Focusing specifically on how a technological innovation can be put to use in the making of a product/service that can be sold in the marketplace. Financial institutions facilitate flow of money from sectors with surpluses to those with deficits, by attracting funds into chequing and savings accounts. Lines between pillars have been blurred due to deregulation. (privately owned, profit seeking firm that serves individuals, Financial pillar #1 - chartered banks non-business orgs, and businesses as a financial intermediary) Five largest banks account for 90% of total bank assets. Bank act limits foreign-controlled banks to <8% of total domestic bank assets. Major source of short-term loans for business. Opened up new revenue streams for canadian banks. Allowed banks to alter their historical role as intermediaries b/n depositors and borrowers. The big six asked the government to get tougher with mortgage rules to cool off the housing market. they responded by moving down-payment from 5% to 10%
