Category of financial institutions in Canada. Formerly, this term was used to describe a bank that could not be wholly owned by non-residents. This method of categorizing banks was replaced by Bill C-8 in 2001. The term is now widely used to describe banks with over $5 billion in equity.
Related information about Schedule I bank:
- Schedule I Bank Definition | Investopedia
A Canadian financial institution regulated under the Federal Bank Act. A Schedule I bank cannot be wholly owned by non-residents.
- Schedule II Bank Definition | Investopedia
... either domestically or foreignly. A foreign Schedule II bank can be owned by non-residents, and a Canadian Schedule II bank is owned by a Schedule I bank.
- What is Schedule I bank? definition and meaning
Definition of Schedule I bank: Category of financial institutions in Canada. Formerly, this term was used to describe a bank that could not be wholly owned by ...
- Report on the Observance of Standards and Codes: Canada - IMF
In Canada "significant" ownership is clearly defined in Schedule I bank ownership rules. Any change in the ownership/control of Schedule II banks requires the ...
- Laurentian Bank of Canada - Wikipedia, the free encyclopedia
The Laurentian Bank of Canada (LBC) (French: Banque Laurentienne du Canada) is a Schedule I bank in the province of Quebec. (It also has one branch in ...
- Friday, Jan 21, 2011, "Freedom: Do It Yourself - Free Individual
The Royal Bank of Canada (RBC) is a Schedule I bank, but the RBC is also an international bank offering totally private accounts with these services: Accounts ...
- SAUMUR
... including acting on the following recent transactions: • a Canadian Schedule I bank's acquisition of a brokerage • a Canadian Schedule I bank's acquisition of ...
- CXS - Subsidiary Street Capital to apply for bank license - Uberflip
... announced today that Street Capital intends to apply to Canada's Minister of Finance for approval to operate as a federally regulated Schedule I bank, with its ...