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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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Kevin Warsh: The Former Fed Governor Poised for a Return to Power

 

Kevin Warsh would replace current Fed chair Jerome Powell when his term expires in May, after U.S. President Donald Trump announced his nomination to the post on Friday. 

Kevin Warsh, recently nominated by President Donald Trump to lead the U.S. Federal Reserve, is a familiar figure in American economic policy circles. Known for his blend of Wall Street experience and central‑bank expertise, Warsh’s return to the spotlight signals a potentially significant shift in the direction of U.S. monetary policy.

Warsh previously served as a Federal Reserve governor from 2006 to 2011, a period defined by the global financial crisis. During that time, he acted as a key liaison between the Fed and major financial institutions, helping shape emergency responses during the most turbulent economic period in decades. Before joining the Fed, he worked as an executive at Morgan Stanley and served as an economic advisor in the George W. Bush administration.

In the years since leaving the central bank, Warsh has remained active in economic policy debates, often advocating for a more restrained approach to monetary intervention. More recently, however, his views have aligned more closely with President Trump’s preference for lower interest rates — a shift that likely contributed to his nomination.

If confirmed, Warsh would take over at a pivotal moment, with markets sensitive to interest‑rate decisions and global economies navigating a complex post‑pandemic landscape. His leadership style, crisis‑era experience, and evolving policy stance will shape not only the U.S. economy but also financial conditions felt across borders, including in Canada.


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