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Canada – Financial Sector Stability Assessment
Report

Canada – Financial Sector Stability Assessment

IMF Country Report No. 14/29

International Monetary Fund
IMF, 2014
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Editorial Rating

7

Qualities

  • Analytical
  • Innovative
  • Scientific

Recommendation

While many of the world’s developed economies nearly melted down in 2008, Canada kept its cool, insulated by its sensible macroeconomic and banking oversight, and the high prices it collects for the resources extracted from beneath its chilly soil. Today, Canada remains a global economic and financial power; only the envious would call that dull. The IMF recognizes Canada’s stellar performance but marks its report card with an A-minus: It needs to watch out for property bubbles and rising household debt. getAbstract suggests this dry but informative report on a thriving economy to investors, financial professionals and regulators.

Take-Aways

  • Canada’s financial system was one of the very few to emerge from the 2008 global crisis with its structure intact.
  • Stress tests on Canada’s banking, insurance and securities markets suggest that the country’s systemically important financial institutions can manage “credit, liquidity and contagion risks.”
  • Six big institutions, which hold 93% of all banking assets, dominate Canada’s banking sector. Three large firms control the life- and health-insurance industries.

About the Author

The International Monetary Fund provides advice and financing to member states during economic difficulties and works to reduce poverty in developing nations.

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