International Banking - Annual Overview
CANADIAN ECONOMY AND FINANCIAL SYSTEM
Stable economy with sound financial system
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CANADIAN ECONOMY
The 10th largest economy in the world,
with a strong export orientation
Economy diversified, with particular
strength in service, primary,
manufacturing, construction,
and utility sectors
Proactive governments and central
bank that has begun unwinding
exceptionally accommodative
monetary policy
Manageable government deficits
and debt burdens
Stronger growth outlook, with firmer
commodity prices, resilient consumer
activity, and solid U.S. demand for
Canadian goods and services
STRONG FINANCIAL SYSTEM
Effective regulatory framework
o Principles-based regime
Single regulator for major banks
Conservative capital requirements
Proactive policies and programs
Risk-management practices
O Prudent lending standards
。 Few sub-prime mortgages
Relatively little securitization
Primarily originate-to-hold model
Canadian banks well-capitalized
and profitable
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