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    Sahaj Sharma
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    The document discusses banking systems in Canada and Switzerland. In Canada, a survey found it has the world's best banking system, which remains dominated by five large banks. Major reforms in 2001 established the Financial Consumer Agency of Canada and allowed individuals to open bank accounts without minimum deposits or employment. In Switzerland, a referendum was held in June 2018 on the Vollgeld Initiative, which aimed to shift power over money creation from private banks to the national level by having the central bank, not private banks, create money through loans.

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    The document discusses banking systems in Canada and Switzerland. In Canada, a survey found it has the world's best banking system, which remains dominated by five large banks. Major reforms in 2001 established the Financial Consumer Agency of Canada and allowed individuals to open bank accounts without minimum deposits or employment. In Switzerland, a referendum was held in June 2018 on the Vollgeld Initiative, which aimed to shift power over money creation from private banks to the national level by having the central bank, not private banks, create money through loans.

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    6 views2 pages

    Macro

    Uploaded by

    Sahaj Sharma
    The document discusses banking systems in Canada and Switzerland. In Canada, a survey found it has the world's best banking system, which remains dominated by five large banks. Major reforms in 2001 established the Financial Consumer Agency of Canada and allowed individuals to open bank accounts without minimum deposits or employment. In Switzerland, a referendum was held in June 2018 on the Vollgeld Initiative, which aimed to shift power over money creation from private banks to the national level by having the central bank, not private banks, create money through loans.

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    of 2

    CANADA

    • According to the survey by the World Economic Forum, Canada has the world’s best
    banking system

    • Banking system remains basically a banking oligopoly dominated by the “Big Five” 
    • Royal Bank of Canada
    • Toronto Dominion Bank 
    • Bank of Nova Scotia 
    • Bank of Montreal 
    • Canadian Imperial Bank of Commerce 

    • Major Banking Reforms in 2001


    • Financial Consumer Agency of Canada
    • Open accounts for individuals without demanding a minimum deposit or that the individual be employed.
    • More authority to federal government
    SWITZERLAND

    • Vollgeld Initiative/Sovereign Money Reform


    • Referendum on 10th June,2018
    • Power of Money creation at stake – Private Vs National
    • 90% of Money created by Private banks through loans
    • Pro Vollgeld Arguments
    • Anti Vollgeld Arguments
    • Referendum Result

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