Banks in Canada have been continuously recognised as amongst the soundest and safest across the globe. During the global financial crisis, while a number of banks in other countries became insolvent, failed or received taxpayer bailouts, Canadian banks remained well-capitalised, well-managed and out of the danger zone. Notwithstanding, the global financial crisis has led to a series of significant regulatory changes (most notably in the areas of liquidity and capital) designed to reduce the risk of another global financial crisis occurring, of which Canadian banks are already or will become subject, to ensure that they will continue to be well-positioned for any risks going forward.
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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.
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