Canada

This is the best summary I could come up with:

Three of Canada's biggest lenders posted quarterly earnings on Thursday, and as was the case at Scotiabank earlier in the week, they're all putting a lot more money aside to cover loans that might go bad.

Royal Bank, TD Bank and CIBC revealed their financial results to investors before stock markets opened on Thursday, and while all three remain very profitable, they all showed a sharp uptick in the amount of money they're setting aside to cover bad loans, a closely watched banking metric known as provisions for credit losses.

Loan loss provisions at the first two were worse than analysts were expecting, but at CIBC they actually came in lower than some forecasts.

While the uptick in troubled loans is a concern, the figures are a drop in the bucket when viewed against the backdrop of the overall financial picture at all three lenders

TD did announce, however, that it is taking a $363-million restructuring charge during the quarter, relating to severance and other costs.

The bank said in filings it plans to cut its its current full-time work force by about three per cent.

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