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A Bay Street sign is seen at the financial district in Toronto, October 10, 2008.
A Bay Street sign is seen at the financial district in Toronto, October 10, 2008.
(MARK BLINCH/REUTERS)

'Too big to fail' alive and well in Canada: IMF

Rarely does Canada’s banking system stand out for the wrong reasons.

So it is noteworthy when it does. At a time when the world’s leading financial centres are reducing the influence of their biggest lenders, Canada’s banking giants are becoming more dominant.

A team of International Monetary Fund economists led by Frederic Lambert and Kenichi Ueda has just completed a study on the implicit subsidy banking behemoths receive for being “too big to fail.”