Benefiting from tight capital requirements, stringent government restrictions and limited subprime exposure, Canada's leading financial institutions weathered the mortgage crisis. Canada's major banks--including RBC Financial Group, TD Bank Financial Group, Scotiabank and Bank of Montreal--remained solid, buoyed by Tier 1 capital ratios above 10.5%. This strength allowed Canadian banks to keep lending to companies and households through the credit crisis, keeping Canadian credit markets less impaired than in the U.S. and Europe and supporting Canadian domestic demand.
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May 22, 2009
Canada: Selected Issues -- Canadian Banks and the Credit Turmoil, Canadian Residential Mortgage Markets: Boring But Effective? Is the Canadian Housing Market Overvalued? A Tale of Two Regions
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