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Canada’s largest banks warm to sharing mortgage risks Add to ...

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Canada’s largest banks are quietly embracing Ottawa’s new mantra to share some risk in the country’s mortgage system, a fundamental shift that would alter the way the country’s $1.4-trillion mortgage market operates.

This week, federal Finance Minister Bill Morneau said he would begin discussions with the financial industry on a government plan to introduce risk-sharing into the taxpayer-backed insurance market that covers mortgages when the customer does not have a down payment of at least 20 per cent.

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