Banking system in Canada ?

How are the banking systems in Canada one of the best in the world?

Apparently Canada has one of the best banking in the world because its controlled by the federal goverment. But how does being contolled by the federal goverment make it one of the best banking systems in the world?

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34 Responses to Banking system in Canada ?

  1. STEVEN F says:

    If it is controlled by ANY government, it is among the WORST in the world. National security and law enforcement are the ONLY things ANY government does half as well as PRIVATE businesses.

  2. Greg says:

    The banks in Canada aren’t any more government controlled than the rest of the world. Maybe you meant government regulated. All banking in the world is regulated by the respective governments. The problem is that in other countries, government regulations were loosened which allowed banks to take more risks, assume more debts and make loans to people who could not pay them back.

    During the last 10 years, Canadian banks took fewer risks and were actually seen as lagging US banks. Now they’re being seen as superstars since the collapse of the world banking system has left them mostly unscathed.

    You could argue that Canadian banks are now the least controlled by the government. Banks around the world are being bailed out and taken under control by governments.

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