Are the world’s bank watchers re-evaluating their long love affair with Canadian financial institutions?
It certainly appears that way, if the latest downbeat assessment from Moody’s Investors Service is anything go by.
The big bond-rating agency has changed its outlook on Canada’s banking system to negative from stable on the grounds Ottawa has no appetite to bail out too-big-to-fail institutions using taxpayers’ money in the event of a crisis. Instead, the government is proceeding with a so-called bail-in strategy that could force bondholders to shoulder part of the burden of any future restructuring.Report Typo/Error
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- Royal Bank of Canada$99.09+0.41(+0.42%)
- Toronto-Dominion Bank$69.44+0.17(+0.25%)
- Bank of Montreal$101.41-0.07(-0.07%)
- Canadian Imperial Bank of Commerce$116.49-0.01(-0.01%)
- Bank of Nova Scotia$81.82-0.17(-0.21%)
- National Bank of Canada$58.23-0.23(-0.39%)
- Updated February 17 4:00 PM EST. Delayed by at least 15 minutes.