Canadian Commercial Bank
Encyclopedia
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The Canadian Commercial Bank was an Edmonton
Edmonton
Edmonton is the capital of the Canadian province of Alberta and is the province's second-largest city. Edmonton is located on the North Saskatchewan River and is the centre of the Edmonton Capital Region, which is surrounded by the central region of the province.The city and its census...
, Alberta
Alberta
Alberta is a province of Canada. It had an estimated population of 3.7 million in 2010 making it the most populous of Canada's three prairie provinces...
-based Canadian
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
. It received its parliamentary charter in 1975 and established its head office in Edmonton. The bank was privately owned and operated as a wholesale commercial bank. It officially began operations in July 1976, with CDN$22 million of capital. From 1976-1982, it operated profitably—usually in the top quartile of Canadian banking. It built a new headquarters in Edmonton, the Canadian Commercial Bank Tower in 1982. The bank failed and ceased operations on September 3, 1985. It was the largest bank failure in Canadian history and the first in Canada in 60 years.
See also: List of banks in Canada, Canada Deposit Insurance Corporation
Canada Deposit Insurance Corporation
-External links:*** Official CDIC site*...