The second in command at the Office of the Superintendent
He says lenders, such as banks, are well capitalized at the moment but they cannot afford to relax, particularly as 60 per cent of bank lending is in the real estate market.
He says OSFI is trying to mitigate the risks but at the end of the day it is up to banks and mortgage insurers, such as the
He notes that the U.S. housing collapse demonstrated that when the tide turns on housing, high debt can act as a major drag on overall consumer spending and thus the economy as a whole.
Most Popular Stories
- Scholarships Offered for Hispanic Heritage Month
- Latin America Seeks Ways to Add Value to China Exports
- Hurdles for Obama Health Law in Second Enrollment Season
- Boeing Succeeds in Early Wooing of China Airline Startups
- IS Releases New Beheading Video
- Hope Solo Sets Shutout Record in US Rout of Mexico
- Steve Ballmer Files Six-Figure Counterclaim vs. Steve Gordon
- Etsy Says 'No' to Redskins Logo, Name
- Detroit Bankruptcy: Pivotal Progress in Trial's Second Week
- Sneak Peek: A Roundup of 2015 New Models