## Canada: Financial Sector Assessment Program-Technical Note on Systemic Risk Analysis

_IMF Staff Country Reports, August 15, 2025_

## Source details

**Canonical URL:** [Canada: Financial Sector Assessment Program-Technical Note on Systemic Risk Analysis](https://www.imf.org/en/publications/cr/issues/2025/08/15/canada-financial-sector-assessment-program-technical-note-on-systemic-risk-analysis-569758)

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## Bibliographic details
- Published: August 15, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229020732.002

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### Summary and Macroeconomic Context
- The Canadian economy has navigated the pandemic well and achieved a soft landing but rising trade tensions pose significant challenges.
- Amid sharp monetary tightening to control high levels of inflation, the economy slowed in 2023–24 but avoided a recession.
- The Bank of Canada (BOC) began easing monetary policy in June 2024.
- Challenges persist, including rising trade tensions and policy uncertainties, among other factors.

### Key Themes Covered
- Financial institutions
- Insurance and Insurance companies
- Labor
- Mortgages
- Pensions
- Risk analysis, including solvency ratio, solvency stress test, and sensitivity analysis

### Notable Keywords (as listed)
- credit market
- Global
- Insurance
- Insurance companies
- insurance solvency stress test
- Mortgages
- Pensions
- risk analysis
- solvency ratio
- solvency stress Test. sensitivity analysis

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_Source: https://www.imf.org/en/publications/cr/issues/2025/08/15/canada-financial-sector-assessment-program-technical-note-on-systemic-risk-analysis-569758_