Due to Canada’s high levels of household debt and housing prices, credit ratings agency Moody’s Investor Service recently downgraded the credit rating of Canada’s Big Six banks. Find out how this can affect consumers nationwide.
OSFI, the national bank regulator, has deemed six of Canada’s largest lenders as “too big to fail”. What does this mean for banking consumers – and what measures are being put in place to protect our banks in case of another national recession?
A new round of Moody’s downgrades has cut the ratings of 6 Canadian banks by one notch. What does this mean for Canadian consumers and borrowers?
Recently two of the world largest rating agencies have downgraded Ontario’s debt. Canada’s largest province, once the economic engine of Canada, is now struggling to convince Ontarians that it’s plans to cut costs and balance the budget will work. The rating agency move could make borrowing for the province more expensive, and threaten the province’s 2017 plan to balance the books.