Question

Which institutions are considered the Big Five Schedule I banks in Canada?

a) RBC Royal Bank, Scotiabank, BMO Bank of Montreal, TD Canada Trust, and CIBC
b) National Bank of Canada, Desjardins Group, HSBC Canada, Tangerine Bank, and Laurentian Bank
c) RBC Royal Bank, Caisse Populaire, BMO Bank of Montreal, Coast Capital Savings, and TD Canada Trust
d) Scotiabank, Meridian Credit Union, Tangerine Bank, CIBC, and Vancity

Answer 1

The Big Five Schedule I banks in Canada are RBC Royal Bank, Scotiabank, BMO Bank of Montreal, TD Canada Trust, and CIBC, which are major players in the financial sector and listed on the Toronto Stock Exchange.

Step-by-step explanation:

The Big Five Schedule I banks in Canada are RBC Royal Bank, Scotiabank, BMO Bank of Montreal, TD Canada Trust, and CIBC. These are the largest banks in terms of national presence and total assets, and they hold a significant portion of Canadian banking assets. The Big Five are all publicly traded on the Toronto Stock Exchange and offer a diverse range of financial services, including personal and commercial banking, wealth management, and investment banking.