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Article

Issue:2020 №3 (71)
Section:Finances
UDK:336/711-043/86(73)+347/734
DOI:https://doi.org/10.33271/ebdut/71.059
Article language:Ukrainian
Pages:59-66
Title:Evolution of the canadian banking system and features of its regulation at different stages of economic reform
Author:Korol M. M., Uzhhorod National University
Annotation:Methods. The methodological basis of the research is based on the works of leading foreign scientists as well as information materials of international financial institutions. The results are obtained through the use of methods: analysis – for a more detailed study of the evolution of the Canadian banking system at various stages of economic reform; system approach – to establish the impact of legal regulation on the functioning of the Canadian banking system. Results. The article analyzes the evolution and history of the development of the Canadian banking system at various stages of economic reform. The prerequisites for the creation of Canadian banks are characterized. The number of banks at various stages of the formation of the Canadian economy is analyzed. The specific features of opening commercial banks in Canada are established. The features of the functioning of the Canadian banking system are investigated. The main features of the consolidation of Canadian banks are characterized, and examples of the activities of the largest banks that took part in the consolidation of banks in Canada are given. The article analyzes the laws that were adopted in the process of opening and consolidating banks in Canada and identifies the features of their application in the Canadian banking system. The features of institutional legal regulation of the banking system of Canada are investigated. The chronology of the formation of banking regulation in Canada is created. Novelty. A comprehensive analysis of the evolution of the Canadian banking system at various stages of economic reform is carried out and the features of its institutional and legal regulation are outlined. Practical value. The results obtained in the course of the study can be used for effective regulation and supervision of the banking system of various countries from the point of view of not only the reliability of individual financial institutions, but also the stability of the financial system as a whole. 
Keywords:Financial globalization, Canadian banking system, Commercial banks, Consolidation, Multinational banks of Canada, Canadian Deposit Insurance Corporation, Regulation of the Canadian banking system
File of the article:EV20203_059-066.pdf
Literature:
  • 1. Edward P. Neufeld (2001). Adjusting to Globalization: Challenges for the Canadian Banking System. Retrieved from https://core.ac.uk/download/pdf/7033302.pdf
  • 2. Meljnyk, P.V., Taranghul, L.L., & Hordey, O.D. (2010). Bankivski systemy zarubizhnykh krain. Kyiv, Alerta, Centr uchbovoi literatury.
  • 3. Walter Engert, Ben S. C. Fung, Loretta Nott, & Jack Selody (1999). Restructuring the Canadian financial system: explanations and implications. Demographics and the «baby boom» generation. p. 148. Retrieved from https://www.bis.org/publ/confp07g.pdf
  • 4. Yevtukh, L.B. (2016). Svitovyy dosvid zabezpechennia stabilnosti bankivskoi systemy. Visnyk Universytetu bankivsjkoi spravy,18-23.
  • 5. Canadian Bankers Association (2015). Banks operating in Canada. Retrieved from https://cba.ca/banks- operating-in-canada .
  • 6. Michael D. Bordo (2010). Why didn’t Canada have a banking crisis in 2008 (or in 1930, or 1907, or 1893)? Setting the stage. Evanston. p.7. Retrieved from https://www.eh.net/eha/wp-content/uploads/2013/11/Bordo.pdf
  • 7. Canadian Bankers Association (2015). The Canadian Banking System. cba.ca. Retrieved from https://cba.ca/canadian-banking-system-hamilton-approved [in Canada].
  • 8. Laurent Belsie (2014). Why Canada Didn't Have a Banking Crisis in 2008. National Bureau of Economic Research. Retrieved from https://www.nber.org/digest/dec11/w17312.html
  • 9. Alix Granger (2012). Banking in Canada: Who Owns Canadian Banks? The Canadian Encyclopedia. www.thecanadianencyclopedia.ca Retrieved from https://www.thecanadianencyclopedia.ca/en/article/banki ng
  • 10. Bank of Canada (2012). Regulation of the Canadian Financial System. www.bankofcanada.ca. Retrieved from https://www.bankofcanada.ca/wp- content/uploads/2010/11/regulation_canadian_financial.p df
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