Housing market downturn a top risk to Canada’s financial system, regulator says - National | Globalnews.ca

📆 4/18/2023 6:42 PM
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Housing market downturn a top risk to Canada’s financial system, regulator says

are among the biggest risks to Canada’s financial system this fiscal year, the country’s financial regulator said on Tuesday.

The Office of the Superintendent of Financial Institutions said it was ensuring that federally regulated financial institutions were alert to changing market conditions in its first annual risk outlook report for the year ending March 31, 2024.“OSFI is preparing for the possibility, but not predicting, that the housing market will experience sustained weakness through 2023,” said Peter Routledge, Superintendent at OSFI.

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