This is Queen Street Analytics' weekly digest of regulatory developments, legislative discussions and other government-related news for professionals in the financial industry, banking, credit unions, insurance, payment processing, fintech, credit card issuing, asset management, venture capital, private equity, and crypto-currencies. Once a week, we break down the most important updates in this space in under five minutes.

Want to track other GR news in adjacent industries? Don’t miss this week’s updates in ICT & Cybersecurity. Also consider subscribing to our Finance - Washington edition covering critical GR news south of the border.

Dates: 2026-02-15 to 2026-02-21

📋 In This Week's Newsletter

• 🏛️ This Week's Parliamentary Calendar
• 🇨🇦 Federal Government News
• 🗺️ Provincial Government News
• 💬 Government Consultations
• 📚 What We're Reading This Week

This Week's Parliamentary Calendar

• House of Commons Finance Committee: Clause-by-Clause Review of Bill C-15: The House of Commons Standing Committee on Finance will undertake clause-by-clause consideration of Bill C-15, the 2025 budget implementation act, on February 23, 2026, from 11:00 a.m. to 11:00 p.m. Witnesses include senior officials from Finance, Justice, Canadian Heritage, Industry, and more.
• Industry and Technology Committee to Review Capital Outflow and Productivity Report: The Standing Committee on Industry and Technology meets February 23, 2026, at 3:30 p.m. to consider draft reports on Canada’s productivity gaps and capital outflow, as well as the Defence Industrial Strategy.
• Senate National Finance Committee Examines Budget Implementation: The Senate Standing Committee on National Finance meets February 24, 2026, at 9:00 a.m. to examine Bill C-15 and Bill C-4, with witnesses from Alto including President and CEO Martin Imbleau.
• Senate National Finance Committee Reviews Non-Financial Matters in Budget Bills: On February 25, 2026, at 6:45 p.m., the Senate National Finance Committee will study inclusion of non-financial matters in budget implementation legislation and review federal initiatives related to housing.
• Senate Committee on Banking to Review Access to Finance for SMEs: On February 26, 2026, the Senate Committee on Banking, Commerce and the Economy examines Bill S-3 and SME access to credit and capital markets. Witnesses include CEOs from the Canadian Independent Finance and Innovation Counsel and Canaccord Genuity Group.

Federal Government News

Bank of Canada Directs XTM to Halt Payment Activities

The Bank of Canada has instructed XTM, a company that manages restaurant worker tips, to cease its payment activities. According to coverage on February 17, 2026, XTM was ordered to stop handling electronic payments, reflecting steps by the central bank to supervise emerging payment service providers. The decision restricts XTM’s ability to operate its payroll and tip disbursement functions, with the regulator acting under its authority to oversee firms involved in the national payment system. The move is understood to apply with immediate effect, while XTM explores its next steps for compliance. The intervention signals heightened regulatory attention to third-party payroll technology, especially as it relates to the secure management of consumer funds and payments infrastructure.

Sources: www.thestar.com

Canadian Investors Expand Holdings in Foreign Securities; Foreign Investors Reduce Canadian Positions

Statistics Canada released data for December 2025 showing Canadian investors acquired $13.1 billion in foreign securities, driven by purchases of US equities. Concurrently, foreign investors reduced their holdings in Canadian securities by $5.6 billion after six months of net purchases totaling $145.4 billion. The shift in international investment patterns follows a sustained period of inbound investment. The new data offers insights into cross-border capital flows affecting domestic markets, investor sentiment, and potential changes in risk appetite. Details are available in the Canada’s International Transactions in Securities report for December.

Sources: www.statcan.gc.ca

Lending Services Price Index, Q3 2025 Now Available

Statistics Canada has published the Lending Services Price Index for the third quarter of 2025. The index, which benchmarks at 2017=100, provides an updated measure of price movements in lending services across the industry. The latest data set is designed to support market analysis with current metrics on pricing trends affecting banks, credit unions, and other financial service providers. The complete figures are posted on the agency’s online data portal.

Sources: www.statcan.gc.ca

Monthly Credit Aggregates Reported for December 2025

Statistics Canada has made available the monthly credit aggregates for December 2025. This report presents details on credit growth, including lending to households and businesses, and supports assessments of debt trends in the broader economy. The new release forms part of the regular schedule of aggregate credit statistics.

Sources: www.statcan.gc.ca

Investment in Building Construction Rises in December 2025

The total value of investment in building construction increased by $442.9 million (+1.9%), reaching $23.7 billion in December 2025, according to Statistics Canada. The rise forms a data point for market participants monitoring credit exposure and asset-backed lending in the construction sector. A breakdown by asset class and region is included in the official dataset.

Sources: www.statcan.gc.ca

Farm Sector Equity Grows in 2024, Liabilities Expand More Rapidly

Revised balance sheet data for Canada’s agricultural sector as of December 31, 2024 indicate farm equity totaled $833.4 billion, up $39.3 billion or 5% year-over-year. The report notes that liability growth at 14.5% outpaced asset growth at 6.4%. Saskatchewan and Alberta accounted for the majority of equity gains. The update provides insight into the credit profile and leverage trends of the farm sector entering 2025.

Sources: www.statcan.gc.ca

Provincial Government News

British Columbia Releases Budget 2026 with Measures Affecting Income Tax and Investment

The government of British Columbia unveiled Budget 2026 on February 17, including an income tax rate increase on the first bracket and the extension of tax credits specific to shipbuilding and manufacturing investment. The plan also introduces a new strategic investment fund and a tax on luxury homes valued at more than $3 million.

Sources: news.gov.bc.ca

B.C. Introduces Permanent Trade Recognition Act to Remove Interprovincial Barriers

The B.C. government tabled Bill 5, the Trade Recognition Act, to permanently enact its framework for the mutual recognition of goods and services certified in other provinces, supporting cross-provincial commerce.

Sources: news.gov.bc.ca

Alberta Initiates Expedited Financial Viability Review for Town of Gibbons

Alberta’s Minister of Municipal Affairs confirmed an expedited viability review and appointed an administrator for Gibbons following disclosure of operating deficits and rising debt pressures.

Sources: www.alberta.ca

New Brunswick Announces $54.3 Million in Supports for Key Industries

Opportunities NB will provide up to $54.3 million over three years to support major employers in modernization, productivity improvements, and job creation, including multi-year commitments to companies in manufacturing, seafood, and aquaculture.

Sources: www2.gnb.ca

Government Consultations

Finance Canada Consultation on Budget 2025 and Earlier Draft Tax Legislation

The Department of Finance Canada is seeking input until February 27 on legislative proposals covering measures such as Qualified Investments for Registered Plans, Non-profit Reporting, Hybrid Mismatch Arrangements, and technical amendments to the Global Minimum Tax Act.

Sources: www.canada.ca

What We're Reading This Week

• How can I protect my retirement savings in an uncertain economy?: Investor-focused discussion on managing retirement portfolios amid volatility.
• Colliers Extends Maturity and Enhances Flexibility of its US$2.25 Billion Credit Facility: Colliers addresses balance sheet flexibility through a credit facility extension.
• Building prosperity and responding to emerging needs: Coverage on strategies for economic growth in shifting markets.
• From capital to housing: how David Odishou is rebuilding trust in high-friction markets: Examination of market trust strategies by entrepreneurs operating in regulated sectors.
• Opinion: Private equity is king. Smaller investors should be let in: Discussion around private equity access and market participation trends.

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