The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

The banking towers in downtown Toronto.
The banking towers in downtown Toronto.
(Fred Lum/The Globe and Mail)

Canadian banks dogged by new pension rules have hope

New optimism for pension plans is giving Canadian banks hope, just a month after the lenders booked bigger expenses to close pension funding holes.

During the last bank earnings season in December, new accounting rules dictated that Canadian lenders had to incur bigger pension costs for the 2013 fiscal year. Many also had to restate previous years’ earnings to reflect bigger backdated expenses.