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Financial Services Report Canada

  • ID: 2101567
  • Report
  • Region: Canada
  • 22 Pages
  • The Economist Intelligence Unit
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Canada has a highly developed financial system with a variety of institutions, dominated by six big banks. Many sources of corporate funds and a wide array of options for investment are available. Conditions are similar to those of the financial markets in the US, although the smaller size of the Canadian economy limits market depth and liquidity. One important difference, however, is that Canada has no national securities regulator.

The financial sector is an important segment of the Canadian economy. Finance and insurance services together accounted for 6.7% of economic output in October 2018, according to Statistics Canada. The sector's output grew by 3% in the 12 months to October, above the 2.2% growth in overall GDP. Canada's broader finance and insurance sectors (including real estate) employed 1.17m people, or around 6.2% of the workforce, in December 2018, down by about 4,400 from a year earlier.

Regulators of Canadian financial institutions have been more cautious than their US counterparts. The benefits of tighter regulation came to the fore during the global financial crisis, from which Canadian banks emerged relatively unscathed. However, some critics take the view that the emphasis on stability has hampered innovation, as the banks face mounting competition from an array of "shadow banks" and financial technology (fintech) companies.

Industry List: Asset management, Financial Services, Banking, Financial Services, Financial markets and instruments, Financial Services, Financial regulation, Financial Services, Financial Services, Financial Services, Insurance
Industry Codes (NAIC): 52
Industry Codes (SIC): 60
Note: Product cover images may vary from those shown
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Financial Services Report Canada




Asset managers

Financial markets and instruments

Financial regulation
Regulatory watchlist

Monetary and currency policy: Monetary policy

Monetary and currency policy: Exchange rates

Canada at a glance

Fundamental indicators

Key contacts
Note: Product cover images may vary from those shown
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