CANNEX Update



It's THAT time of year again ... some call it tax season, some call it RRSP season and those with goggles call it ski season. Whatever name you settle on, it's definitely a busy season and we're embracing the (busy) pace at CANNEX. We continue to welcome new participants to the CANNEX Financial Network (CFN) and expand the transactional ties of our existing members. One of the items on our 2017 roadmap is to look at how we might expand the breadth and depth of services that we deliver to our CFN and Term Deposit/GIC rate feed clients. As we crystalize our ideas, we will be looking to validate these concepts with our clients ... stay tuned for further developments.
For those familiar with the Deposit Industry Professionals (DIP) Annual Conference, we wish to pass on the news that the DIP Conference will now be amalgamated with the CAILBA National Conference and AGM. CANNEX will be in attendance as a sponsor and we hope to see you there. Mark your calendars for June 6-8 at White Oaks Resort in Niagara-on-the-Lake. Click here to learn more about CAILBA and this year's event.
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Network Notices
After 22 years with Scotiabank, please join us in wishing Jim Schweitzer a very happy retirement!

We are pleased to introduce our newest Dealer and Issuer members to transact on the CANNEX Financial Network.
  • PI Financial Corp. (Dealer)
  • Street Capital Bank of Canada (Issuer)
For more information about Street Capital please contact Leigh Knowles at 647-259-7873 x 230 or leigh.knowles@streetcapital.ca.
Click here for the full list of Issuers and Dealers that use CFN, CANNEX's automated Term Deposit/GIC application processing and administration service.
CFN Client News
Street Capital Bank of Canada Commences Operations
February 1, 2017
CDIC welcomes new member
February 1, 2017
Industry News and Links
President of CDIC discusses deposit protection with Canadians
February 8, 2017
Bank of Canada: Interest Rates
CDIC: How Deposit Insurance Works
CDIC: List of Provincial Deposit
Insurers
IIAC: Key Issues Facing Canada's Investment Industry
Just the Numbers Please
In this issue we look at January 2017 activity on the CANNEX Financial Network.

Largest single GIC transaction: $25 million (1 year term)
Top 3 Terms by Order Volume:
1 year 35%
4-5 years 23%
1-2 years 20%
Top 3 Terms by Amount Deposited:
1 year 55%
1-2 years 17%
4-5 years 14%

Concentrations in 1 year term deposits, as measured by both order volume and amount deposited, for the month of January 2017 were higher by 4% and 7% respectively when compared to same month 2016. Based on these statistics, and if deposits could speak, we might hear them say that they don't expect an increase in rates from the Bank of Canada this year.
Upcoming Bank of Canada Interest Announcement Dates for 2017: March 1, April 12, May 24, July 12, September 6, October 25 and December 6.
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Postscript
This year's presentation of the Alex Melvin Leadership Award will be made at the CAILBA National Conference (June 6-8). If you know someone in the Deposit or Insurance industry who fits this description, consider nominating this person for the Alex Melvin Leadership Award.
  • Intrinsically genuine, optimistic and empathetic towards others.
  • Confident, decisive and accountable for the betterment of the industry.
  • Inspiring and motivating cohesiveness among industry participants.
Representatives from the Deposit and Insurance industries pooled their ideas and efforts to create the annual Alex Melvin Leadership Award in celebration of Alex's life and legacy.
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