Canada : Watchdog tells banks to test resilience to sharp home price falls
Tue Jul 26 2016
Jim Andrews (247 articles)
Share

Canada : Watchdog tells banks to test resilience to sharp home price falls

TORONTO : Canada’s banking regulator said on Tuesday it will require the country’s banks to test how they would withstand a 50 percent cut in property prices in Vancouver and a 40 percent decline in Toronto.

The move is the latest in a series of moves by Canadian authorities to counter a threat posed by soaring house prices in the two Canadian cities. OSFI said earlier this month is was tightening oversight of mortgage lending, citing concern about record household debt and a sharp jump in prices.


Copyright (2016) © LiveIndex.org


Jim Andrews

Jim Andrews

Jim Andrews is Desk Correspondent for Global Stock, Currencies, Commodities & Bonds Market . He has been reporting about Global Markets for last 5+ years. He is based in New York