Ottawa should reject RBC’s deal to buy HSBC Canada, finance committee says

The House of Commons finance committee is calling on the federal government to block Royal Bank of Canada’s

But the prospect of RBC – the country’s largest lender – scooping up the seventh biggest bank as it moves to exit the Canadian market has drawn the ire of opposition parties in Ottawa. The committee did not comment British HSBC’s decision to pull its Canadian subsidiary from the market, nor did it offer any alternative option for what could become of HSBC Canada if Ottawa were to terminate the deal.

because it would reduce banking competition at a time when homeowners are struggling with high borrowing costs.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

HSBC Takes Stab at Using Blockchain to Modernize London’s Antiquated Gold MarketOne of the world’s top bullion banks is bringing blockchain to the antiquated London gold market.
Source: BNNBloomberg - 🏆 83. / 50 Read more »