EC223 Lecture Notes - Lecture 6: Life Insurance
Document Summary
Chartered banks, trusts and mortgage loan companies, credit unions and caisses populaires. Life insurance companies, property and casual insurance companies, pension funds and retirement funds. Finance companies, mutual funds, money market mutual funds, hedge funds, investment banks. Important for when companies want to make an ipo. Investment banks underwrite the value of the stock to guarantee its value on the stock market on the first trading day. On the first trading day there is usually a spike in price of the stock. Restrictions on entry and competition, reporting requirements, and restrictions on assets and activities. Requires disclosure of information and restricts insider trading. Bank of canada charterd banks, tmls, and cucps. Examines the books of the deposit- taking institutions and coordinates with the federal agencies that are responsible for financial institution responsible for financial institution regulation: osfi and cdic. Sets capital adequacy, accounting, and board-or-directors responsibility standards; conducts bank audits and coordinates with provincial securities commissions.
