In Canada
In March 2013, the Office of the Superintendent of Financial Institutions announced that Canada's six largest banks, the Bank of Montreal, the Bank of Nova Scotia, the Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and Toronto-Dominion Bank, are too big to fail. Those six banks accounted for 90% of banking assests in Canada at that time. As well it noted that "the differences among the largest banks are smaller if only domestic assets are considered, and relative importance declines rapidly after the top five banks and after the sixth bank (National)."
Read more about this topic: Too Big To Fail
Famous quotes containing the word canada:
“I fear that I have not got much to say about Canada, not having seen much; what I got by going to Canada was a cold.”
—Henry David Thoreau (1817–1862)
“Though the words Canada East on the map stretch over many rivers and lakes and unexplored wildernesses, the actual Canada, which might be the colored portion of the map, is but a little clearing on the banks of the river, which one of those syllables would more than cover.”
—Henry David Thoreau (1817–1862)