Yep, and BlackRock holds >2% of RBC, Vanguard and its funds own >5%, BMO >5%
For BMO BlackRock holds >3%, Vanguard >5%, RBC >10%
Vanguard holds 8% of BlackRock.
And this is just one example and one scratch on the surface. Throw in the rest of the Canadian banks interconnectedness, BlackRock and Vanguards massive exposure to them all, and their massive ownership of big tech the Canadian banking system being collectively a top 10 investor in big tech.
Factor in that after 2008 Canadian banks were considered a safe investment because they provided liquidity to American banks, so American banks started holding larger amounts of Canadian banks, so did European banks.
Europe is in a similar situation.
Just pull up a chair, look at those stock tickers and enjoy some popcorn.
Yep, and BlackRock holds >2% of RBC, Vanguard and its funds own >5%, BMO >5%
For BMO BlackRock holds >3%, Vanguard >5%, RBC >10%
Vanguard holds 8% of BlackRock.
And this is just one example and one scratch on the surface. Throw in the rest of the Canadian banks interconnectedness, BlackRock and Vanguards massive exposure to them all, and their massive ownership of big tech the Canadian banking system being collectively a top 10 investor in big tech.
Factor in that after 2008 Canadian banks were considered a safe investment because they provided liquidity to American banks, so American banks started holding larger amounts of Canadian banks, so did European banks.
Europe is in a similar situation.
Just pull up a chair, look at those stock tickers and enjoy some popcorn.