Start Date: 2025-02-08
End Date: 2025-02-14

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Canadian Western Bank Plans Capital Reduction

Canadian Western Bank has announced its intention to apply for the reduction of its stated capital for common and first preferred shares. This move is part of a capital reorganization strategy set to complete on February 20, 2025, transitioning the bank into a wholly owned subsidiary of National Bank of Canada. The reduction is conditional upon approval by the Superintendent of Financial Institutions. The reduction will be effective prior to the proposed amalgamation with National Bank of Canada. This process is expected to follow the Bank Act's regulatory review.

Sources: Gazette, Part I: www.gazette.gc.ca

Non-Depository Credit Intermediation Data Updated

Statistics Canada released updated data on non-depository credit intermediation, covering assets and liabilities of non-bank financial intermediaries.

Sources: Open Government Data Set: open.canada.ca