22 May 2013

OSFI – transition to high interest rates may be quite painful

The head of the Office of the Superintendent of Financial Institutions (OSFI) Julie Dickson said the agency is thoroughly monitoring Canadian banks for the potential risks that can appear as the result of a prolonged period of low mortgage rates.

According to Julie Dickson, the longer interest rates remain low, the more chances that banks will take extra risk to increase the returns. In the end, borrowers will go into larger debts…

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