What Is the Canada Mortgage and Housing Corporation (CMHC)? The term Canada Mortgage and Housing Corporation (CMHC) refers to a Canadian Crown Corporation that serves as the national housing agency of Canada. The goal of the agency is to make mortgage loans affordable for all Canadians through a housing development strategy and mortgage insurance, among
What Is the Canadian Derivatives Clearing Corporation (CDCC)? The Canadian Derivatives Clearing Corporation (CDCC) is the central clearing counterparty for exchange-traded derivative products, such as options and futures, in Canada. The CDCC also acts as the clearinghouse for a growing range of over-the-counter (OTC) financial instruments including fixed income and foreign exchange securities. CDCC is a wholly
What Is a Canadian Income Trust? A Canadian income trust is a type of investment trust that holds stable, income-producing assets and distributes payments to unitholders, or shareholders, on a periodic (monthly or quarterly) basis. Key Takeaways A Canadian income trust is an investment fund that holds income-producing assets and distributes payments to unitholders, or
What Is the Canadian Securities Institute (CSI)? The Canadian Securities Institute is Canada’s leading provider of professional credentials and compliance programs for the financial services industry. Its designations are recognized by the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Securities Administrators (CSA) with many designations required for securities industry activities in Canada’s provinces
What is Canary Call? A canary call is a type of step-up bond where the coupon rate increases at predetermined dates and that is not able to be called after a certain stated period. Key Takeaways A canary call is a type of step-up bond where the coupon rate increases at predetermined dates and that
What Is Cancelable Insurance? Cancelable insurance is a type of policy that either the insurance company or the insured party may terminate in the midst of the coverage term. Many types of insurance, with the exception of life insurance, can be structured in this way. Key Takeaways Cancelable insurance is a type of policy that either
What Is a Canceled Check? A canceled check is a check that has been paid or cleared by the bank it was drawn on after it has been deposited or cashed. The check is “canceled” after it’s been used or paid so that the check cannot be used again. Somebody who has written a check
What Is Cancellation of Debt (COD)? Cancellation of debt (COD) occurs when a creditor relieves a debtor from a debt obligation. Debtors may be able to negotiate with a creditor directly for debt forgiveness. They can also receive debt cancellation through a debt relief program or by filing for bankruptcy. Debts forgiven by a creditor
What Is a Cancellation Provision Clause? A cancellation provision clause is a provision in an insurance policy that permits an insurer, or an insurance company, to cancel a property and casualty or a health insurance policy at any time before its expiration date. Life insurance policies do not contain cancellation clauses, and while health insurance
What Is the CAC 40? The CAC 40 is the French stock market index that tracks the 40 largest French stocks based on the Euronext Paris market capitalization. The CAC 40 started with a base value of 1,000 in December 1987 and continued to operate on a total market capitalization system until 2003 when it was changed
