{"id":17982,"date":"2012-03-01T04:40:10","date_gmt":"2012-03-01T08:40:10","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=17982"},"modified":"2012-03-01T04:40:10","modified_gmt":"2012-03-01T08:40:10","slug":"february-29-2012","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=17982","title":{"rendered":"February 29, 2012"},"content":{"rendered":"

This is US data, but more evidence that the western world is regulating itself to death<\/a>:<\/p>\n

Consumers pay about 21 percent more in fees for basic checking accounts than they did six years ago, according to a study released today.<\/p>\n

An average consumer may pay about $7.72 a month in a combination of monthly and automated teller machine fees this year compared with about $6.36 in 2006, according to the study by Pleasanton, California-based Javelin Strategy & Research, which looked at fees on basic checking accounts offered by 30 financial institutions.<\/p>\n

Fees have increased as regulations have curtailed some of banks\u2019 related revenue sources, Javelin said. Rules requiring banks to get consumers\u2019 consent for overdraft protection, and limiting what banks may charge merchants on debit transactions, have cost the industry about $12.2 billion annually, according to the study.<\/p><\/blockquote>\n

It was a good solid day for the Canadian preferred share market, with PerpetualPremiums gaining 10bp, FixedResets up 4bp and DeemedRetractibles winning 24bp. Good volatility, with Floaters notable among the losers and SLF dominating the winners. Volume was average.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-1.6149 %<\/td>\n2,350.0<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.52 %<\/td>\n3.90 %<\/td>\n38,323<\/td>\n17.47<\/td>\n1<\/td>\n0.0000 %<\/td>\n3,447.0<\/td>\n<\/tr>\n
Floater<\/td>\n2.84 %<\/td>\n3.05 %<\/td>\n53,316<\/td>\n19.55<\/td>\n3<\/td>\n-1.6149 %<\/td>\n2,537.4<\/td>\n<\/tr>\n
OpRet<\/td>\n4.87 %<\/td>\n2.84 %<\/td>\n54,528<\/td>\n1.28<\/td>\n6<\/td>\n0.4602 %<\/td>\n2,514.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.31 %<\/td>\n0.30 %<\/td>\n88,160<\/td>\n0.78<\/td>\n4<\/td>\n0.0651 %<\/td>\n2,662.8<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4602 %<\/td>\n2,299.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.37 %<\/td>\n2.84 %<\/td>\n114,763<\/td>\n0.17<\/td>\n28<\/td>\n0.1000 %<\/td>\n2,211.7<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.08 %<\/td>\n4.98 %<\/td>\n196,824<\/td>\n15.43<\/td>\n4<\/td>\n-0.0728 %<\/td>\n2,432.0<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.05 %<\/td>\n2.84 %<\/td>\n213,914<\/td>\n2.31<\/td>\n66<\/td>\n0.0362 %<\/td>\n2,382.0<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.93 %<\/td>\n3.80 %<\/td>\n239,858<\/td>\n2.93<\/td>\n46<\/td>\n0.2410 %<\/td>\n2,308.5<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n-3.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-01
\nMaturity Price : 20.95
\nEvaluated at bid price : 20.95
\nBid-YTW : 2.52 %<\/td>\n<\/tr>\n
IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\n-1.69 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.27
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-01
\nMaturity Price : 23.07
\nEvaluated at bid price : 24.80
\nBid-YTW : 3.48 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-01
\nMaturity Price : 17.11
\nEvaluated at bid price : 17.11
\nBid-YTW : 3.10 %<\/td>\n<\/tr>\n
IAG.PR.E<\/td>\nDeemed-Retractible<\/td>\n-1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-12-31
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.26
\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nDeemed-Retractible<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.20
\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n
BAM.PR.J<\/td>\nOpRet<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-31
\nMaturity Price : 26.00
\nEvaluated at bid price : 27.30
\nBid-YTW : 3.13 %<\/td>\n<\/tr>\n
GWO.PR.M<\/td>\nDeemed-Retractible<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-03-31
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.33
\nBid-YTW : 4.99 %<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nDeemed-Retractible<\/td>\n1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.26
\nBid-YTW : 5.27 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nDeemed-Retractible<\/td>\n1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.37
\nBid-YTW : 5.43 %<\/td>\n<\/tr>\n
FTS.PR.E<\/td>\nOpRet<\/td>\n1.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-06-01
\nMaturity Price : 25.75
\nEvaluated at bid price : 27.20
\nBid-YTW : 0.25 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nDeemed-Retractible<\/td>\n1.69 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.50
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nDeemed-Retractible<\/td>\n1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.41
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
PWF.PR.R<\/td>\nPerpetual-Premium<\/td>\n147,851<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.57
\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n
POW.PR.G<\/td>\nPerpetual-Premium<\/td>\n140,285<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.65
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
BNS.PR.Z<\/td>\nFixedReset<\/td>\n139,079<\/td>\nRBC crossed 99,900 at 25.16.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.16
\nBid-YTW : 3.10 %<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nDeemed-Retractible<\/td>\n97,742<\/td>\nRBC crossed 50,000 at 25.75.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-07-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.74
\nBid-YTW : 3.87 %<\/td>\n<\/tr>\n
PWF.PR.M<\/td>\nFixedReset<\/td>\n54,350<\/td>\nNesbitt crossed 50,000 at 26.44.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.41
\nBid-YTW : 3.22 %<\/td>\n<\/tr>\n
RY.PR.L<\/td>\nFixedReset<\/td>\n42,400<\/td>\nDesjardins crossed 38,200 at 26.40.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.50
\nBid-YTW : 2.54 %<\/td>\n<\/tr>\n
There were 33 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
BAM.PR.G<\/td>\nFixedFloater<\/td>\nQuote: 21.00 – 24.00
\nSpot Rate : 3.0000
\nAverage : 1.6553<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-01
\nMaturity Price : 21.80
\nEvaluated at bid price : 21.00
\nBid-YTW : 3.90 %<\/td>\n<\/tr>\n

PWF.PR.A<\/td>\nFloater<\/td>\nQuote: 20.95 – 22.00
\nSpot Rate : 1.0500
\nAverage : 0.7450<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-01
\nMaturity Price : 20.95
\nEvaluated at bid price : 20.95
\nBid-YTW : 2.52 %<\/td>\n<\/tr>\n

IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\nQuote: 23.27 – 24.00
\nSpot Rate : 0.7300
\nAverage : 0.5207<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.27
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n

GWO.PR.N<\/td>\nFixedReset<\/td>\nQuote: 24.39 – 24.80
\nSpot Rate : 0.4100
\nAverage : 0.2517<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.39
\nBid-YTW : 3.33 %<\/td>\n<\/tr>\n

TCA.PR.X<\/td>\nPerpetual-Premium<\/td>\nQuote: 52.30 – 52.80
\nSpot Rate : 0.5000
\nAverage : 0.3728<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-10-15
\nMaturity Price : 50.00
\nEvaluated at bid price : 52.30
\nBid-YTW : 2.98 %<\/td>\n<\/tr>\n

ELF.PR.G<\/td>\nPerpetual-Discount<\/td>\nQuote: 23.05 – 23.45
\nSpot Rate : 0.4000
\nAverage : 0.2851<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-01
\nMaturity Price : 22.64
\nEvaluated at bid price : 23.05
\nBid-YTW : 5.20 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

This is US data, but more evidence that the western world is regulating itself to death: Consumers pay about 21 percent more in fees for basic checking accounts than they did six years ago, according …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-17982","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17982"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17982\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}