The Canadian Real Estate Association said that national home sales fell by 5.3 per cent in July compared with June, and was down 29.3 per cent compared with July 2021, translating into lower loan activity for banks.
On the capital markets side, banks are expected to report a sharp drop in investment banking revenue as companies and investors become more cautious, but Shanahan said that trading revenue could help buffer the impact despite market pressures. That's the trend that played out when U.S. banks reported, with the five largest American banks reporting a 50 per cent drop in investment banking revenues while trading revenues were up 22 per cent, he said.
Shanahan said that with the economy still running at essentially full employment he's not expecting any dramatic changes, but analysts are expecting banks to start to boost their reserves again after beginning to taper them down in the past year or so.
Anyone want to bet on record profits?
No SHIT SHERLOCK, it's not about bring the inflation rate down it's all about their profits.
BANKS SHOULD NOT CONTROL INTEREST RATES IT IS LIKE ASKING A WOLF TO LOOK AFTER THE HEN HOUSE
Climate change?
They all make billions in profit every quarter (3 months), that’s about 11.11M per day !!
Oh no!!!! The BANKS!!!!!! They aren’t suffering are they? Oh God…🥺😢😭
A l o t .... 😬🤣