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`It is business as usual` for Canadian bank lending: Royal Bank CEO
Gary Norris, THE CANADIAN PRESS
January 08, 2009
TORONTO - It`s largely "business as usual" for lending by Canadian banks but there`s no doubt the country is undergoing a credit crunch as other loan sources evaporate, the chief executive of the Royal Bank of Canada (TSX:RY) says.
And as the economy slides deeper into recession, "there`s nothing that is out of the ordinary, given where we are in the cycle, with the exception, of course, of the U.S. real estate business," Gordon Nixon told an investor conference Thursday.
"To a large degree, notwithstanding what is sometimes reported in the press, it is business as usual," Nixon said, commenting on perceptions as Finance Minister Jim Flaherty has said credit availability is a key issue as he prepares his Jan. 27 budget.
http://finance.sympatico.msn.ca/investing/...mentid=16655852
Gary Norris, THE CANADIAN PRESS
January 08, 2009
TORONTO - It`s largely "business as usual" for lending by Canadian banks but there`s no doubt the country is undergoing a credit crunch as other loan sources evaporate, the chief executive of the Royal Bank of Canada (TSX:RY) says.
And as the economy slides deeper into recession, "there`s nothing that is out of the ordinary, given where we are in the cycle, with the exception, of course, of the U.S. real estate business," Gordon Nixon told an investor conference Thursday.
"To a large degree, notwithstanding what is sometimes reported in the press, it is business as usual," Nixon said, commenting on perceptions as Finance Minister Jim Flaherty has said credit availability is a key issue as he prepares his Jan. 27 budget.
http://finance.sympatico.msn.ca/investing/...mentid=16655852