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Toronto condo builders are slowing development in a bid to avoid a crash after a decade-long boom led to 159 towers now under construction.
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The Canadian government has asked banking regulators to review whether the nation’s biggest agricultural lender is taking on too much risk, according to a person familiar with the matter.
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The Canadian housing agency’s vulnerability to mortgage defaults has soared nine-fold in 20 years, approaching levels reached by Fannie Mae and Freddie Mac in the U.S. at the height of the housing boom. Canada Mortgage & Housing Corp. says its finances are secure unless the country plunges into deep recession for several years.
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Glencore International Plc has learned from BHP Billiton Ltd.’s experiences in handling takeovers in Canada.
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The head of Canada’s biggest bank and one of the country’s leading developers said the housing market is not in a bubble, even as one economist said Toronto is caught in a “condo craze.”
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The Bank of Canada’s board of outside directors is meeting today in Charlottetown, Prince Edward Island, and may discuss a replacement for retiring Deputy Governor Pierre Duguay .
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Canada will prohibit banks from using insured mortgages to back their covered bonds while increasing oversight of the federal housing agency to cool off the country’s real-estate market.
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Canadian authorities are stepping up oversight of the nation’s housing market even as lenders such as Bank of Nova Scotia warn that tougher rules could threaten the economic recovery.
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Canada’s Finance Minister Jim Flaherty, a self-proclaimed fiscal conservative who has overseen more than C$100 billion ($100 billion) in deficits in the past three years, will seek to reverse that legacy in a budget that cuts spending and prods businesses to lead economic growth.
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Trading suits for bicycle helmets, retired Bank of Canada deputy governors are choosing to share office space, and their expertise, at Carleton University in the country’s capital.
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