29.06.2012 - Canada’s housing market: Time for a bigger needle
Canada’s reputation for financial regulation is starry. Its banks got through the crisis unscathed. According to Moody’s, a ratings agency, Royal Bank of Canada sits alongside HSBC and JPMorgan Chase in the top tier of global banks. And Canadian policymakers are old hands at pulling “macroprudential” levers of the sort now in vogue among rich-world central banks. But questions still nag. Some say that Canada’s banks are flattered by a huge indemnity offered by Canada Mortgage and Housing Corp (CMHC), a public institution that insures mortgages with a loan-to-value ratio of more than 80%...............................................Full Article: Source
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