How stable is the Canadian banking system?
Barry: Canada has one of the most financially stable banking systems in the world. The Canada Deposit Insurance Corporation stated that the Canadian financial system is in good shape and that the banks are well capitalized. Central 1 Credit Union, the central body for BC credit unions, has reported that BC credit unions have a solid deposit base, a sound portfolio of loans in their local communities and prudent capitalization levels. It further noted that credit unions are regulated financial institutions with excellent liquidity support at the local, provincial and national levels that are designed to withstand financial market turbulence.
