The Hub: News & Events for May 13, 2019

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May 13, 2019


Central 1 News 

  • B.C. employment up by 5,900 persons in April
  • Housing starts surge in April
  • Merchandise exports improve in March
  • Unemployment edged up to 6.0 per cent in April
  • Housing starts up by 46.1 per cent in April
  • Trade deficit declined in March due to less imports and unchanged exports
  • Toronto home sales up but price growth meek, buyers remain selective

Payment Solutions Manual: Mobile Deposit File Specifications Update (login required)
​We rebranded the document and renamed it to "Mobile Deposit File Specifications for Financial Institutions." 

Decrease in Manitoba Resale Sales Tax 
(login required) 
The Government of Manitoba announced the decrease to the Retail Sales Tax (RST) rate during the provincial budget address on March 7, 2019. As such, CMHC will be collecting 7% RST on premiums and applicable surcharges for mortgage loan insurance policies for properties located in Manitoba with a closing date or funds advanced on or after July 1, 2019. 

Central 1 Events

September 8-10, 2019
Momentum Summit & Trade Show
Westin Harbour Castle, Toronto

Button to Credit Union Careers
Button to Central 1's Economic Insights
Button to our Annual Research Package

Industry News

Credit unions
Alterna's Toronto Corporate Office Moves to Downtown Toronto (Press release)

Go Public: RBC customer out of pocket after fraud: what you need to know if you e-transfer money (CBC)

'An incredibly troubling notion': Drastic new tool to fight money laundering alarms civil rights advocates (CBC)

Housing/Real Estate

Interest-Only Mortgages Have Come To Canada, But Do We Really Need This 'Innovation'? (Huffington Post)

The two biggest innovation killers in banking (CU Insight)

Editorial: Shadow-banking interest alert (Business in Vancouver)

Canadian dollar looks 'egregiously' undervalued, Scotiabank says (BNN Bloomberg)

Consumer Insolvencies in Canada Climb to Highest in 8 Years (Bloomberg)

Meet the Front-Runners to Succeed Poloz as Bank of Canada Chief (Bloomberg)

After Tough Winter, Canada's Economy Shows Signs of Strength (Bloomberg)

Five issues Canada needs to address if it wants to attract foreign capital (Financial Post)

Where are Canadian interest rates heading in 2019? It depends on who you ask (Livabl)


Industry Events

June 9-14, 2019
CanadaDE Credit Union Leadership Program
Saint Mary's University
Halifax, NS

July 28-31, 2019
World Credit Union Conference
The Atlantis Resort, Bahamas

September 15-17, 2019
CULA Conference
White Oaks Conference Resort
Niagara-on-the-Lake, ON
(Save the date)

October 3 – 5, 2019
35th Annual Credit Union Directors' Forum 
"Good Governance: The Future of Ontario's Credit Unions"
Hilton Mississauga/Meadowvale

October 21-22, 2019
Everlink Connections 2019
Hilton Toronto
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Central 1 Credit Union, All rights reserved.

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