Banks
The Canadian banking market is highly developed. There are a number of banking institutions in Canada that have branch operations in all major cities. Generally, Canadian banks provide both operating and term financing. In addition to Canadian chartered banks, many foreign banks have established subsidiary operations in Canada.
The Canadian Banker's Association (CBA) has valuable information about Canada's banking industry, including the names and locations of domestic banks, foreign bank subsidiaries, and foreign bank branch operations in Canada. CBA also provides website links to individual banks.
Bank Act Security
The Bank Act is federal legislation that governs bank operations in Canada. The Bank Act also specifies types of securities banks are permitted to take.
Insolvency and Bankruptcy
Canadian federal legislation governs bankruptcy. This applies to both individuals and businesses.
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Bankruptcy and Insolvency Act of Canada and Related Regulations
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The Companies' Creditors Arrangement Act
This is a federal act that allows a company to restructure to avoid a bankruptcy, and creditors may intervene to enforce remedies and receive some amount owing to them from that company.
Sources of Financing Directory
Industry Canada maintains a directory where businesses can search for various sources of financing available in Alberta and other provinces.
There is also a separate directory that lists financial providers subdivided into different categories (i.e. credit unions, chartered banks, investment dealers, venture capitalists). Businesses can search the different categories to find out what services various financial providers offer in relation to the specific needs of the business.
Date Updated: Aug 21, 2008
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