Schedule I Bank

AAA

DEFINITION of 'Schedule I Bank'

A Canadian financial institution regulated under the Federal Bank Act. A Schedule I bank cannot be wholly owned by non-residents.

INVESTOPEDIA EXPLAINS 'Schedule I Bank'

Under Bill C-8, implemented on October 24, 2001, the Schedule I and II bank structures were replaced with a new size-based ownership regime which is based upon the institution's equity.

  • Institutions with over $5 billion in equity are required to have no person owning more than 20% of the voting shares or 30% of the non-voting shares.
  • Institutions with equity of $1 billion to $5 billion have fewer restrictions on ownership, as they are only subject to having a public float of 35% of voting shares.
  • Institutions with less than $1 billion in equity have no ownership restriction.


Although the Schedule I and II bank structures have been replaced, they are still widely used to describe the two structures of bank in Canada.

RELATED TERMS
  1. Schedule II Bank

    A bank which is a subsidiary of a foreign bank and authorized ...
  2. Commercial Bank

    A financial institution that provides services, such as accepting ...
  3. Bank

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

    Typical mass-market banking in which individual customers use ...
  5. Credit Union

    Member-owned financial co-operative. These institutions are created ...
  6. Subsidiary Bank

    A type of foreign bank that is incorporated in the host country ...
RELATED FAQS
  1. What are the most famous cases of oligopolies?

    As of 2014, two of the most well known oligopolies in the United States are the film and wireless communications industries. ... Read Full Answer >>
  2. How does online banking assist with budgeting?

    Setting up online banking can make a personal budget easier to manage through the use of multiple accounts or expense categories ... Read Full Answer >>
  3. 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 >>
  4. 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 >>
  5. 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 >>
  6. What role does a correspondent bank play in an international transaction?

    A correspondent bank is most typically used in international buy, sell or money transfer transactions to facilitate foreign ... Read Full Answer >>
Related Articles
  1. Fundamental Analysis

    Analyzing A Bank's Financial Statements

    A careful review of a bank's financial statements can help you identify key factors in a potential investment.
  2. Savings

    Are Your Bank Deposits Insured?

    Learn how the FDIC is helping to keep your money in your pockets.
  3. Credit & Loans

    The Evolution Of Banking

    Banks are a part of ancient history. Find out how this system of money management developed into what we know today.
  4. Options & Futures

    Stop Hunting With The Big Forex Players

    Learn to bank short-term profits by placing stops away from the crowd.
  5. Insurance

    Your First Checking Account

    This owner's manual will show you what to expect from your bank.
  6. Options & Futures

    Choose To Beat The Bank

    From internet banking to credit unions, it's in your power to cut fees and maximize service.
  7. Personal Finance

    What Is The Bank For International Settlements?

    Get the scoop on the structure and functions of the oldest global financial institution.
  8. Brokers

    10 Most Famous Public Companies That Went Private

    Here’s a list of the most popular listed companies that went private in recent decades.
  9. Savings

    Best Banks to Stash Your Million Dollars

    Get the richest perks and red carpet treatment for you and your money from these financial institutions.
  10. Trading Strategies

    IPO Flippers And The Companies Who Hate Them

    Learn how flipping activity affects an initial public offering.

You May Also Like

Hot Definitions
  1. Bogey

    A buzzword that refers to a benchmark used to evaluate a fund's performance. The benchmark is an index that reflects the ...
  2. Xetra

    An all-electronic trading system based in Frankfurt, Germany. Launched in 1997 and operated by the Deutsche Börse, the Xetra ...
  3. Nuncupative Will

    A verbal will that must have two witnesses and can only deal with the distribution of personal property. A nuncupative will ...
  4. OsMA

    An abbreviation for Oscillator - Moving Average. OsMA is used in technical analysis to represent the variance between an ...
  5. Investopedia

    One of the best-known sources of financial information on the internet. Investopedia is a resource for investors, consumers ...
  6. Unfair Claims Practice

    The improper avoidance of a claim by an insurer or an attempt to reduce the size of the claim. By engaging in unfair claims ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!