## 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](https://www.imf.org/en/publications/cr/issues/2020/01/23/canada-financial-sector-assessment-program-technical-note-bank-resolution-and-crisis-48977)

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## Bibliographic details
- Published: January 24, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513527246.002

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### 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).*

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_Source: https://www.imf.org/en/publications/cr/issues/2020/01/23/canada-financial-sector-assessment-program-technical-note-bank-resolution-and-crisis-48977_