What is the risk to the Canadian banking system?
The structure of the Canadian banking system is different from the U.S. system. The foundation of the Canadian banking system is more robust, given our tighter regulatory requirements and oversight by the federal government. The Canadian Bank Act created a regulator for Canadian financial institutions, called the Office of the Superintendent of Financial Institutions (OSFI), which supervises, monitors and audits all Canadian banks, financial institutions, and pension plans. http://www.infosource.gc.ca/inst/sif/fed04-eng.
