Call Loans in Canada and Elsewhere
After "current loans in Canada" the next largest item among the assets is "call and short loans elsewhere than in Canada." The call loans outside of Canada consist mainly of loans in the New York market and are as a rule secured by collateral easily convertible into cash. These loans are regarded by Canadian bankers as equivalent to cash and are figured by them as part of their reserve. Only the larger banks make a practice of loaning on call in New York.