FundMore

10/07/2026

A flat arrears count can tell a very incomplete story. Canada's latest non-bank mortgage data make that point.

Canadian Mortgage Trends' September 28 analysis of Statistics Canada's Q2 release puts the remaining balances on overdue mortgages at $12.1 billion, up from $10.8 billion a year earlier. The number of affected mortgages remained roughly unchanged at 45,000.

The distinction matters: these are outstanding loan balances, not missed-payment amounts. A payment late at quarter-end qualifies regardless of how long it has been overdue.

For lending leaders, this is a reason to ask better portfolio questions. Are larger balances concentrated in a particular segment? Which accounts return to their current status? Which falls behind again?

Do not jump from a national headline to a blanket lending restriction. Start with your own data, clear definitions, and a named owner for every escalation.

Canadian non-bank overdue mortgage balances reached $12.1 billion in Q2. Why loan counts alone cannot explain exposure, and what lenders should review.

10/05/2026

The Fed has proposed stablecoin rules. A launch plan still needs an operating plan.

The announcement on September 24th covers proposed reserve, capital, and risk-management standards, as well as an approval process within the Fed's supervisory remit. These are proposals for public comment, not final rules or a blanket green light for banks to issue stablecoins.

For financial institution leaders, this makes it a conversation about treasury, risk, finance, legal, and technology. Leaving it to the innovation team alone would miss the point.

Who owns the reserve records? Who authorizes an instruction? How is a mismatch reconciled? What happens when a service fails?

Those questions may not make the most exciting launch video. They should make the investment decision.

Before choosing a platform, define the role your institution wants to play and the responsibilities it would carry. Test the failure paths before testing the marketing message.

Policy is the moat; a slide deck is not a control.

Which operating question would you want answered before approving a stablecoin project?

The Fed proposes reserve, capital, and approval rules for stablecoins. What bank leaders should assess now, and why proposed requirements are not final policy.

10/02/2026

Canada's Big Six are exploring a new way to move bank deposits. That does not make your funding checklist obsolete.

BMO, CIBC, National Bank, RBC, Scotiabank, and TD are jointly exploring Canadian-dollar digital money, starting with tokenized deposits moving between financial institutions, according to their announcement. This is an exploratory initiative, not a live payment network.

For banks, credit unions, and lenders, the useful conversation starts before money moves. Has every funding condition been satisfied? Is the destination verified? Who resolves a mismatch between the payment record and the loan?

A faster transaction cannot make an incomplete decision complete. It just leaves less room to discover the problem later.

Start with one funding journey. Map the approvals, handoffs, and exceptions; keep the infrastructure that works and fix the gaps between systems.

The goal is not a more fashionable payment process. It is one you can trust and explain.

If money could move faster tomorrow, which part of your funding process would still be waiting on an email?

Canada's Big Six are exploring tokenized deposits. What banking and lending leaders should assess before new payment infrastructure reaches production.

09/26/2026

Wise wants your paycheque. The mortgage on your books is not a loyalty contract.

Its Canadian chequing launch brings no monthly fees, free Interac e-Transfer options, direct deposits, and recurring payments into the everyday account relationship.

The competitive signal is not just the fee. It is the chance to become the provider customers use between major financial decisions.

For lenders, the response should be operational:

Stop treating product ownership as proof of engagement.

Make external financial evidence easier to submit and verify.

Fix duplicate document requests and slow exception handoffs.

Policy is the moat. Making borrowers play courier between your systems is not.

This launch is not a proof-of-deposit flight. It is a good reason to ask whether your customer journey earns the next interaction.

Which handoff would you fix first: document collection, policy exceptions or status updates?

https://hubs.li/Q04ynCVh0

Wise's Canadian chequing launch challenges everyday banking relationships. What bank and lending leaders should change in onboarding and underwriting.

09/23/2026

Chime just paid $590M to stop renting a bank.

The all-cash deal for Stride at 1.5x tangible book value closes the largest sponsor-bank chapter in U.S. consumer fintech.

Chime's CEO said the quiet part out loud: they couldn't move as fast as they wanted, and needed "complete control of our destiny."

What happens next:

● $100M+ in projected net synergies from killed sponsor fees, cheaper funding, and expanded lending
● Stride rebrands to Chime Bank NA after close in H1 2027
● Same week: Block files for an OCC federal trust charter, Revolut nabs a conditional charter, and the OCC signals it's open for business

The pattern: the largest fintechs are either buying banks or applying to become one, and the OCC is letting them queue. Sponsor-bank concentration risk just got real.

Full breakdown on the FundMore blog.
https://hubs.li/Q04y8lQH0

09/17/2026

OSFI didn't just drop policy on Wednesday. It rewired the operating cadence.

The Q3 release stacked:
Final CAR 2027 Guideline
Final Capital and Liquidity Treatment of Crypto-asset Exposures Guideline (2027)
Final Guideline B-12 on interest rate risk
Revised Implementation Note on regulatory capital models
A frontier-AI threat brief built with the Canadian Centre for Cyber Security
The Regulatory Data Hub going live for corporate data

Three shifts hiding inside that list:
1. Capital keeps getting freed for SME lending.
2. Canadian banks now have a crypto rulebook while U.S. peers are still improvising.
3. The Data Hub makes clean-data institutions cheaper to supervise, and dirty-data ones more expensive.

https://hubs.li/Q04xN3lB0

OSFI's September 10 release finalizes CAR 2027, the crypto capital guideline, and interest rate risk rules while quietly reshaping AI oversight and data collection. Here's what Canadian lenders need to build against.

09/09/2026

Bank of Canada held at 2.25% on Wednesday. Seventh consecutive hold.

The rate is not the story. The framing is.

Governor Macklem: inflation risk is rising. Counter-tariffs will add costs, but the "bigger issue" is the Middle East and higher oil prices. Neither is on any credit committee's list of levers.

Which means the working assumption most 2027 origination plans were built on - modest, consistent cuts through mid-2026 - is now unstable. Not because a hike is coming, but because the base case is a 2.25-2.50% policy rate through H1 2027 with a rising-inflation upside risk.

Three things stack for Canadian lenders:

1) Rates on hold longer than planned.

2) Q2 SLOS showing business lending balance conditions already negative.

3) Big Six sitting on ~C$74B of DSB-freed capital they have not aggressively deployed.

When rates are on hold and demand is soft, cycle time is the growth story. When rates are cutting, rates are the growth story. Right now, the Bank is telling every Canadian lender which conversation to prioritize.

https://hubs.li/Q04x4ZTf0

The Bank of Canada held at 2.25% for the seventh straight time on September 3 and warned inflation risk is rising. What that means for Canadian lenders planning 2027 originations - and why cycle time now matters more than rates.

09/08/2026

AI-powered two-minute refis are coming for the $9 trillion MBS market.

Morgan Stanley says only about a third of eligible refi candidates actually refinance today. The reason is not the rate. The reason is that the process is "notoriously drawn-out and tedious."

Take that friction out and three things happen at once:

1) Prepayment speeds accelerate on any coupon in the money.

2) The prepayment option MBS investors are short gets closer to fully efficient, and has to be repriced.

3) Retail lenders who can operate at two-minute cycle times take share from lenders who cannot, even at worse headline rates.

The kicker: rates are not falling. Freddie's August 27 PMMS put the 30-year at 6.66%, within 3 bps of the 2026 high. Fannie now projects 6.7-6.8% through H1 2027.

So the industry is not growing its way out of the volume environment. Cycle time and unit economics are the only levers left.

This is the mortgage-industry thesis, in Bloomberg's own words. The moment the buy side starts pricing, the capital markets desk starts asking questions the origination desk has been asking for three years.

Read more: https://hubs.li/Q04w-89_0

09/03/2026

Every Canadian bank beat estimates last week.

RBC record $6B. TD record $4.7B adj. CIBC +15%. Scotia, National, BMO all beat.

So why did an analyst call RBC's personal banking segment "a little bit light"?

Read the segment mix.

Capital markets and wealth carried the quarter. TD wholesale banking net income up 87%. RBC wealth revenue +16%. Fee businesses did the heavy lifting.

The domestic lending book was quieter. Q2 SLOS turned negative on business lending. Mortgage pricing tightened for the first time in three quarters.

Three questions for the Canadian lending exec table this fall:

1) If capital-markets tailwinds fade, is your NIM story still intact?

2) What is your position on AI-native origination against fintechs pulling in the last of Canada's selective fintech capital?

3) OSFI freed roughly C$74B of excess capital in June. SLOS says the market is tightening. Who fills the gap?

Canadian bank stocks trade at 15x forward earnings - richest since 2010. That is a lot of confidence in fee businesses. Every mid-size lender, credit union, and monoline should be asking whether it is confidence in the loan book too.

Read more: https://hubs.li/Q04wv3n70

08/28/2026

Two Canadian financial data points landed within 24 hours of each other last week. Read side by side, they say more than either does alone.

Thursday: the Bank of Canada's Q2 SLOS showed overall business lending conditions at -1.04, down from +0.96 in Q1. First negative reading since Q4 2025.

Wednesday and Thursday: Capco put first-party fraud alone at a C$2.5B Canadian FI economic exposure, with 36% of Canadians hit by attempted payment fraud in the last two years, and only 33% very confident their FI would protect them.

Two files, one customer.

The applicant whose credit conditions just tightened is the same person whose incentive to stretch an application, dispute a legitimate charge, or lean on friendly-fraud tactics just got stronger. If credit models and fraud models score them separately, each will blame the other for the loss.

Three questions worth the exec table this week:

Are we treating first-party fraud as fraud loss or as credit loss - and does that choice flatter or worsen our headline PCL?

If business non-price conditions tighten another notch in Q3, which segments do we pull back from first?

With 52% of Canadians unable to recall being told anything about deepfake threats by their FI, what do we publish in the next 90 days that would earn a retention point?

Q3 earnings starts Monday. The RTR By-law and Rules come into force the same day. The lenders whose fraud, credit, and customer communication stories are already the same will make the next six weeks look easy.

Read more: https://hubs.li/Q04vF4NC0