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:
“What makes the United States government, on the whole, more tolerable—I mean for us lucky white men—is the fact that there is so much less of government with us.... But in Canada you are reminded of the government every day. It parades itself before you. It is not content to be the servant, but will be the master; and every day it goes out to the Plains of Abraham or to the Champs de Mars and exhibits itself and toots.”
—Henry David Thoreau (1817–1862)
“Canadians look down on the United States and consider it Hell. They are right to do so. Canada is to the United States what, in Dante’s scheme, Limbo is to Hell.”
—Irving Layton (b. 1912)