OSFI says high household indebtedness and a rapidly rising rate environment pose greater risks, as does geopolitical uncertainty. Read more.
The financial watchdog also increased the capital buffer’s range, or the policy tool to keep the country’s financial stability in check, to between zero and four per cent starting February 2023, rising from the previous range of zero to 2.5 per cent.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
If you don't see it, please check your junk folder.We encountered an issue signing you up. Please try again“This new level reflects our observations and high levels of systemic vulnerabilities have persisted and, in some cases, increased in recent quarters,” said OSFI assistant superintendent Angie Radiskovic during a Dec. 8 press conference.
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OSFI raises capital buffer for big banks to 3% as household debt risks riseOSFI says high household indebtedness and a rapidly rising rate environment pose greater risks, as does geopolitical uncertainty. Read more.
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Canadian regulator raises banks' domestic stability buffer to 3%The amount of capital that Canada's biggest lenders must hold as a stability buffer will rise to 3.00% from 2.50% of risk-weighted assets on Feb.1 in response to increased economic uncertainty, the country's financial regulator said on Thursday. The Office of the Superintendent of Financial Institutions (OSFI) said persistent inflation and rising interest rates along with political tensions had exacerbated vulnerabilities. An OSFI review had shown that the buffer continued to serve to ensure 'both systemic stability and the resiliency of D-SIBs (domestic systemically important banks),' OSFI's Chief Risk and Strategy Officer Angie Radiskovic said in the statement.
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Bank of Canada raises interest rates: Read the official statementThe Bank of Canada raised its key interest rate by 50 basis points on Wednesday to 4.25%. Read the central bank\u0027s official statement here.
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Bank of Canada raises interest rates: Read the official statementThe Bank of Canada raised its key interest rate by 50 basis points on Wednesday to 4.25%. Read the central bank\u0027s official statement here.
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Bank of Canada raises interest rates: Read the official statementThe Bank of Canada raised its key interest rate by 50 basis points on Wednesday to 4.25%. Read the central bank\u0027s official statement here.
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Bank of Canada: Read the full decision on its interest rate hike - BNN BloombergThe Bank of Canada raised its key policy rate half a point to 4.25 per cent on Wednesday, in line with most economist estimates. Read the full statement from the central bank.
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