Canada designates 6 banks as systemically important

03/26/2013 | Reuters

In a move expected by markets, Canadian authorities have deemed the nation's leading six banks systemically important financial institutions, meaning they must hold more capital than the standard set by global regulators. "The measures we are announcing today are designed to limit the likelihood that a major bank would encounter distress or failure that could negatively impact the Canadian economy or taxpayers," said Julie Dickson, head of the Office of the Superintendent of Financial Institutions.

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