Provincial Government Banks: A Case Study of Regional Response to National Institutions

Shearer, Ronald A.; Benson, John

doi:10.2307/3550278

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“…Policymakers, they say, have learned that effort to spur competition need to be tempered because the Northland and CCB failures “confirmed that change is dangerous, just what many had thought in the first place” (Darroch & McMillan 2007, p. 160). Darroch and McMillan make only passing reference to credit unions, ignoring that credit unions sought and obtained the Northland Bank charter in order to expand into commercial lending and work around the bank‐controlled payments system or that the federal policymakers eagerly supported this effort as part of a broader strategy to address growing demands for new banks more responsive to western Canada (Benson, 1977; Canada, 1986).…”

Section: Grand Bargains Durable Bargains and Path Dependencymentioning

confidence: 99%

Undoing a co‐operative bargain: The origins and dissolution of federal accommodation of provincial credit unions

Pigeon

2023

Can Public Adm

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The failure of several U.S. regional banks early in 2023 underlined Canada's reputation as home to a resilient banking sector where federal policymakers guard their jurisdictional responsibility over banking against populist impulses and trade off competition for financial stability. This article argues that conventional explanations for this observed stability are incomplete because they omit any discussion of federal policies that shaped the growth of a $550 billion provincially based credit union system. This article reconciles the resulting puzzle by showing how policymakers accommodated credit unions and used them to channel populist impulses but within the bounds of over‐arching financial stability concerns.

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Section: Grand Bargains Durable Bargains and Path Dependencymentioning

confidence: 99%

Undoing a co‐operative bargain: The origins and dissolution of federal accommodation of provincial credit unions

Pigeon

2023

Can Public Adm

View full text Add to dashboard Cite

show abstract

Provincial Government Banks: A Case Study of Regional Response to National Institutions

Cited by 1 publication

References 0 publications

Undoing a co‐operative bargain: The origins and dissolution of federal accommodation of provincial credit unions

Undoing a co‐operative bargain: The origins and dissolution of federal accommodation of provincial credit unions

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