Canada: Financial Sector Assessment Program-Technical Note-Bank Resolution and Crisis Management
IMF Staff Country Reports, January 24, 2020
Source details
- Canonical URL
- Canada: Financial Sector Assessment Program-Technical Note-Bank Resolution and Crisis Management
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Bibliographic details
- Published: January 24, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513527246.002
Summary and purpose
- Presents findings and recommendations from the Financial Sector Assessment Program (FSAP) for Canada in the areas of bank resolution and crisis management.
- Based on the findings of the mission conducted during October 29–November 14, 2018.
- Highlights that Canada has maintained financial stability for a long period of time.
- Notes that strong institutional settings, effective supervision, and sound financial sector policies have succeeded in preventing crisis situations.
- Observes that the last bank failure in Canada occurred more than twenty years ago.
- Emphasizes that the lack of crisis events does not diminish the need for preparation and for revisions to the existing framework.
Key findings
- A substantial part of the financial system is covered by federal crisis management and safety net arrangements that are well-established.
- Coordination among the federal agencies is strong, underpinned by inter-agency committees.
- Ongoing work is needed to complete and enhance contingency plans and to implement testing and readiness programs.
Recommendations and policy priorities
- Continue the authorities' work in completing and enhancing their contingency plans.
- Implement testing and readiness programs to ensure crisis preparedness.
Mission and provenance
- Mission dates: October 29–November 14, 2018.
- Document type: Technical Note on Financial Safety Net and Crisis Management for Canada.
- Series and identifiers:
- Pages: 65
- Volume: 2020
- Issue: 023
- Series: Country Report No. 2020/023
- DOI: https://doi.org/10.5089/9781513527246.002
- Stock No: 1CANEA2020008
- ISBN: 9781513527246
- ISSN: 1934-7685
Context and links to IMF work
- Part of IMF Staff Country Reports.
- Related program: Financial Sector Assessment Program (FSAP).
- The publication date shown on the landing page: January 24, 2020.
International Monetary Fund. Monetary and Capital Markets Department "Canada: Financial Sector Assessment Program-Technical Note-Bank Resolution and Crisis Management", IMF Staff Country Reports 2020, 023 (2020).
Content in this bundle
- 1canea2020008