Big Six Banks


DEFINITION of 'Big Six Banks'

A term used in Canada to describe the National Bank of Canada, Royal Bank, The Bank of Montreal, Canadian Imperial Bank of Commerce, The Bank of Nova Scotia and TD Canada Trust.


The National Bank of Canada, the sixth largest retail bank in Canada, is not to be confused with the Canadian central bank, the Bank of Canada.

  1. Commercial Bank

    A financial institution that provides services, such as accepting ...
  2. One-Stop Shop

    A company or a location that offers a multitude of services to ...
  3. Online Banking

    The performance of banking activities via the Internet. Online ...
  4. Private Banking

    Personalized financial and banking services that are traditionally ...
  5. Bank

    A financial institution licensed as a receiver of deposits. There ...
  6. Retail Banking

    Typical mass-market banking in which individual customers use ...
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  1. What Canadian banks offer the best savings accounts?

    Canadians interested in opening savings accounts look for two major features: yield and security. Yields in Canada and elsewhere ... Read Full Answer >>
  2. How long does a stock account have to be dormant before it can be escheated?

    A stock account is typically considered dormant and eligible for escheatment after five years of inactivity; however, this ... Read Full Answer >>
  3. Do banks have working capital?

    The concept of working capital does not apply to banks since financial institutions do not have typical current assets and ... Read Full Answer >>
  4. How does investment banking differ from commercial banking?

    Investment banking and commercial banking are two primary segments of the banking industry. Investment banks facilitate the ... Read Full Answer >>
  5. Why do commercial banks borrow from the Federal Reserve?

    Commercial banks borrow from the Federal Reserve primarily to meet reserve requirements when their cash on hand is low before ... Read Full Answer >>
  6. How does a bank determine what my discretionary income is when making a loan decision?

    Discretionary income is the money left over from your gross income each month after taking out taxes and paying for necessities. ... Read Full Answer >>

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