First published at 20:09 UTC on November 25th, 2019.
Federal Government Introduces Bail-In Legislation: Bill C-15
On April 20, 2016, the Canadian federal government introduced Bill C-15, which is legislation that provides for, among other things, a bank recapitalization or “bail-in” regime for domest…
MORE
Federal Government Introduces Bail-In Legislation: Bill C-15
On April 20, 2016, the Canadian federal government introduced Bill C-15, which is legislation that provides for, among other things, a bank recapitalization or “bail-in” regime for domestic systemically important banks (“D-SIBs”).
BAIL-IN
For those unfamiliar with this feature of financial services regulatory reform, the basic concept of bail-in is that certain stakeholders of a bank that finds itself in the remote circumstance of being in severe distress will be required to support the viability of such a bank by mandatory conversion of their respective instruments into the common equity of the bank. This mandatory conversion would occur upon a regulatory determination that triggering such conversions will absorb losses and that, together with such other measures as regulators may determine to be necessary, such conversions will be sufficient to re-establish the viability of such a bank.
https://www.mccarthy.ca/en/insights/articles/federal-government-introduces-bail-legislation-bill-c-15
P.E.I. minimum wage to hit $12.85 an hour in 2020
P.E.I.'s minimum wage will increase by 60 cents to $12.85 per hour on April 1, 2020.
The current minimum wage of $12.25 an hour came into effect in April of this year.
Ole Hammarlund, the Official Opposition critic for economic growth, said in a statement the increase is "a step in the right direction."
"While the increase is clearly not a living wage, any investment that lifts Islanders is good."
The Employment Standards Board reviews minimum wage annually and provides its recommendation to government after the review is complete.
https://www.cbc.ca/news/canada/prince-edward-island/pei-minimum-wage-increase-1.5353689
Trudeau criticized for tweet to Trevor Noah pledging $50M charity gift
Canada will contribute $50 million to a global charity for children's education, Prime Minister Justin Trudeau tweeted to comedian Trevor Noah, a pledge that quickly drew cr..
LESS