I. Introduction -- II. Fundamentals of Canadian banks -- A. Bank fundamentals and peer comparison -- B. Capitalization -- C. Liquidity -- D. Funding structure -- E. Multivariate regression analysis -- F. Asset-side exposures -- III. Regulatory and structural environment in Canada -- A. Capital regulation -- B. Liquidity framework in Canada -- C. Banking market structure -- IV. Conclusions -- References
Summary
This paper explores factors behind Canadian banks' relative resilience in the ongoing credit turmoil. We identify two main causes: a higher share of depository funding (vs. wholesale funding) in liabilities, and a number of regulatory and structural factors in the Canadian market that reduced banks' incentives to take excessive risks. The robust predictive power of the depository funding ratio is confirmed in a multivariate analysis of the performance of 72 largest commercial banks in OECD countries during the turmoil
Bibliography
Includes bibliographical references (page 19)
Notes
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