Canadian CROs play down threat of mortgage exposure
Burgeoning loan portfolios no cause for concern despite Moody’s downgrades, risk chiefs claim
Senior risk managers at Canadian banks and buy-side firms have sought to play down the dangers posed to the financial system by the country’s booming housing market, claiming their rising stock of mortgage loans does not threaten balance sheets in the same way subprime loans in the US did during the global financial crisis.
On May 11, Moody’s downgraded Canada’s ‘big six’ banks – Bank of Montreal, the Canadian Imperial Bank of Commerce (CIBC), National Bank of Canada, Royal Bank of Canada
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