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Where do Canadian Banks Stand?Posted By DARWIN BRUNNE
Recently a report in Newsweek by Fareed Zakaria recognized that Canada has the most outstanding banking system in the industrialized world, without a single bank failure, calls for bailouts or government intervention in the financial or mortgage sectors.
In 2008, the World Economic Forum ranked Canada`s banking system the healthiest in the world. America is 40th and Britain is 44th.
Our banks are poised to take advantage of opportunities because they are well capitalized. The U. S. banks are generally leveraged at 26-1 and European banks at 61-1, wheras the Candian banks are at 18-1. This is reflected partly by Canada`s more risk-averse business culture and also a product of old-fashioned rules on banking.
http://www.thesudburystar.com/ArticleDisplay.aspx?e=1456935
Recently a report in Newsweek by Fareed Zakaria recognized that Canada has the most outstanding banking system in the industrialized world, without a single bank failure, calls for bailouts or government intervention in the financial or mortgage sectors.
In 2008, the World Economic Forum ranked Canada`s banking system the healthiest in the world. America is 40th and Britain is 44th.
Our banks are poised to take advantage of opportunities because they are well capitalized. The U. S. banks are generally leveraged at 26-1 and European banks at 61-1, wheras the Candian banks are at 18-1. This is reflected partly by Canada`s more risk-averse business culture and also a product of old-fashioned rules on banking.
http://www.thesudburystar.com/ArticleDisplay.aspx?e=1456935