11:29:55 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,216,582,245
Close 2014-12-11 C$ 64.32
Market Cap C$ 78,250,569,998
Recent Sedar Documents

FP/wire say TD, rivals hear reforms will limit credit

2014-12-12 06:20 ET - In the News

See In the News (C-TD) Toronto-Dominion Bank

The Financial Post reports in its Friday, Dec. 12, edition that global banks will reduce the financing they offer to companies as tougher regulations take hold, says Bank of Canada Governor Stephen Poloz. A Bloomberg dispatch to the Post reports that Mr. Poloz says new rules are "absolutely essential" to prevent another crisis like the one that began in 2008. He says the rules have led global banks to sell $700-billion (U.S.) of assets and operations since 2007, implying that "gaps" in financing will appear. He says: "These areas of retreat by banks could look like good opportunities for other financial intermediaries. But it would be surprising if the net effect were not to reduce the availability of credit." New and small businesses are most likely to suffer from reduced credit, says the BOC governor. Innovation may help offset the impact, with new funding coming from increased corporate bond sales, securitization markets and public-private partnerships, says Mr. Poloz. Regulators must also ensure new rules do not stifle financial innovation, says Mr. Poloz, adding "Thankfully, the balance between regulation and innovation is dynamic, not static -- competitive forces ensure this."

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