Saturday, October 1, 2011

Bank of Canada says 3 banks systemically important

TORONTO (Reuters) - The Bank of Canada considers Canada's three biggest banks "systemically important" on a national basis, it said on Friday in a report that could add to concerns about more stringent capital rules facing the sector.

Global regulators are considering imposing tighter capital rules for banks considered to be systemically important or "too big to fail", meaning their collapse would imperil the wider financial system.

No Canadian bank is believed to be on the radar screen of the global regulators, but many believe that Canada's bank regulator, the Office of the Superintendent of Financial Institutions, could impose tighter rules on domestic banks deemed key to the domestic sector.

According to the central bank -- which does not have a hand in...
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