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Big Bank Earnings Are In: What They Reveal About Your Mortgage Stress

  August 26, 2026 Canada's biggest banks are in the middle of reporting Q3 2026 results, and so far the headline numbers look strong. BMO and Scotiabank both beat analyst estimates this week, and National Bank of Canada reported this morning. RBC, TD, and CIBC follow Thursday, closing out the sector's earnings season. But the number that actually matters to most Canadians isn't profit — it's what the banks are setting aside for loans that might go bad, and what they're saying about who's struggling to keep up. That's where the picture gets more interesting than the headlines suggest. The headline numbers BMO kicked off the week with adjusted profit up 22% year-over-year and return on equity climbing to 14%, with the bank reiterating its target of 15% ROE by the end of fiscal 2027. Scotiabank posted what CEO Scott Thomson called a record quarter: net income of $3 billion, up 21% year-over-year, with adjusted ROE hitting 14.2% — clearing the bank's own med...
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US and Ukraine Draft Refined Peace Framework Amid War Tensions

US Secretary of State Marco Rubio talks to reporters after closed-door talks on a US plan to end the war, in Geneva, Switzerland. 

The United States and Ukraine have announced progress on a “refined peace plan” aimed at ending Russia’s ongoing war against Ukraine. Following high-stakes talks in Geneva, officials from both nations confirmed that they had updated Washington’s earlier 28-point proposal, which Kyiv and its European allies had criticized as overly favorable to Moscow.

Ukrainian President Volodymyr Zelenskyy emphasized that any compromise must “strengthen, not weaken” Ukraine, rejecting concessions that would legitimize Russia’s territorial claims. The refined framework reportedly incorporates Ukraine’s own points, addressing concerns that the original draft resembled a Kremlin wish list.

US Secretary of State Marco Rubio described the Geneva meetings as “highly productive”, noting that significant progress had been made, though details remain scarce. Washington has pressed Kyiv to endorse the plan quickly, raising pressure on Zelenskyy as Ukraine faces mounting battlefield and political challenges.

European allies have cautiously welcomed the talks but warned that major issues remain unresolved, particularly regarding NATO’s role and security guarantees for Ukraine. Meanwhile, Russia has been excluded from the discussions, leaving uncertainty over whether Moscow would accept any eventual agreement.

The push for a peace framework comes as Ukraine endures renewed Russian airstrikes, underscoring the urgency of negotiations. While optimism has grown in Washington, Kyiv insists that Russia must “pay fully” for its aggression, including through the use of frozen Russian assets.

The Geneva talks mark a pivotal moment in the war’s trajectory. Whether this refined plan can bridge the gap between Ukraine’s sovereignty demands and US diplomatic pressure remains to be seen. For now, the framework represents a fragile step toward ending Europe’s deadliest conflict since World War II.


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