Pros And Cons Of The Canadian And American Banking System

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Intro Throughout history the Canadian and American banking systems have always taken separate approaches to the financial sector. There are many factors that influence the differences between the banking systems, some of which including their banking regulations, customer base and the chosen style of banking. All the factors presented have influenced the results of the banking sectors in both countries. Both systems have pros and cons, however the argument presented will reflect and support the benefits and success of the Canadian banking system and its ability to support the Canadian economy throughout the country’s history. Despite the close geographic coordinates, the two countries have very little in common regarding their financial sectors. The American banking system flourishes when the population has a high borrowing amount that unfortunately carries a larger risk for the government. In comparison, the Canadian system is most prosperous when the population has a high security level on their finances and the banks hold a substantial portion of liquid assets to assist with any financial issues. Summary The differences between the American and Canadian banking systems is not limited to their definition of success. Each countries system also contains several differences within their banking sectors, and many of these differences have helped guide the individual countries to where they stand in todays market. The American banks prides themselves on being resilient and
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