Canada's OSFI identifies mortgages as a risk to financial system due to rising interest rates.
Canada's banking regulator, OSFI, has listed real estate secured lending and mortgages as significant risks to the country's financial system due to increasing interest rates. Homeowners renewing their mortgages could face payment shocks, potentially leading to increased arrears and defaults. Other top risks include wholesale credit risk, funding and liquidity risks, and risks related to geopolitical events and political tensions.
May 22, 2024
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