Business 8

1. Business 8 Keyboarding Finance: Money & Banking Keyboarding Tip of the Day Home Row

2. Remember the home row has groves (raised surfaces) on their keys so you can find them without looking Remember try not to look at your hands or the keys. Try to get used to finding the home row

3. Keyboarding Activity • Continue on with All the Right Type (ART) for 5minutes today

4. Business 8 Finance: Money & Banking Banks & Banking

5. What do they do? Why do we go there? How do they help the people? What comes to mind when you think about a Bank?

6. Bank Definition A financial institution licensed as a receiver of deposits. Their primary function is to handle money. Banks manage withdrawals and deposits as well as supplying loans Our big banks are called commercial/retail banks.

7. Bank Definition In most countries, banks are regulated by the national government or central bank. The government oversees (controls) and protects the wealth of a nation. In Canada banks must be given a charter or license to operate by Federal parliament.

8. Bank Definition Canadian Banks use a branch banking system Canada allows only a few banks with each having many offices This is very safe, never a failure in Canada's history.  In contrast with US where thousands of banks, lots of failures

9. Bank Definition Our government watches all bank activity, especially: bank reorganizations (mergers) and foreign banks Since confederation, no foreign banks have been allowed in Canada (fear of US domination) And unless necessary, few mergers too

10. The BIG 6 Canadian Banks 6. HongKongShanghai Banking Corporation 1. Royal Bank 2. Bank of Montreal 3. Canadian Imperial Bank of Commerce 4. Toronto Dominion 5. Bank of Nova Scotia

11. RBC, The Royal Bank • Originally founded as Royal Bank of Halifax in 1795, sold to Montreal business people in 1826 and name was changed to Royal Bank of Canada • Royal Bank, Canada's biggest bank  1500 branches, profits around $10-12 Billion annually,

12. BMO, The Bank of Montreal • BMO uses the "First Bank" theme extensively • Bank of Montreal, 4th biggest bank in Canada, claims to be Canada's oldest, founded in 1821

13. CIBC, The Canadian Imperial Bank of Commerce • CIBC  2nd largest bank, result of 1950's merger between Imperial Bank of Canada, and Canadian Bank of Commerce

14. TD, The Toronto Dominion • TD, 3rd biggest bank. • In 1990 TD purchased the Calgary/Vancouver based  Canada Trust (which had long hours, as opposed to the old banking hours of 10:00am-3:00pm.  TD keeps the Canada Trust name, because it is favourably associated with long hours. • The result of 1950's merger of Bank of Toronto and Dominion Bank of Canada.

15. The Bank of Nova Scotia • Bank of Nova Scotia, 5th biggest bank, quite a bit smaller than the previous 4, but very profitable • It is the largest bank in many Caribbean countries and has a large presence in South America • Scotia Bank plays with high risk foreign exchanges and gold speculation

16. HSBC, Hong-Kong Shanghai Banking Corporation • The gov't of Canada reluctantly agreed for it to be sold to Hong Kong investors who were pouring into Vancouver ahead of 1997 (the year Hong Kong went back to China). So Canada got a partially foreign bank. HKBC, Hong Kong Bank of Canada • HSBC in 1970's started off as the Bank of British Columbia • In 1986, the bank was in danger of failing due to large outstanding loans

17. HSBC, Hong-Kong Shanghai Banking Corporation • In 1999, this bank was bought out by the international banking giant HSBC, Hongkong Shanghai Banking Corporation • So we now have a completely foreign-owned bank in Canada, even though it is specifically disallowed by federal rules.  But it has not been a problem, so the government has turned a blind eye to it

18. Scavenger Hunt 3. try to put together a list of 10 things (vocabulary, jobs, facts) that you learned about your bank. You are now researchers. On your own you will 1. use your computer and research one of the big 6 banks, 2. try to find out some new, different or interesting things about your bank that you never knew,

19. Money Assignment • Use the rest of the class time to work on your money assignment

20. Class Discussion • Time to report out and tell us what you learned about your bank

21. Exit Slip 1. What is something new that you learned about banks and banking? 3. Would you prefer to do business with a major bank (one of the big 6) or a smaller one (local community bank)? 2. Would you like a credit card from a major bank? What are the advantages and disadvantages of having a credit card?

22. Class Notes You can find my notes at UBC Blogs under my name: Mr Vatougios https://blogs.ubc.ca/mrvatougios/