Even with support from governments and lenders, the agency expects mortgage arrears to increase
The FSRA was expected to transfer authority to the OSC in July
The Canadian Bankers Association says banks have fielded almost 500,000 requests for deferrals
The program provides liquidity to banks
Banks will allow customers to defer mortgage payments for up to six months
The move is designed to provide stable funding to banks and mortgage lenders
The rate cut will make borrowing cheaper, raising concerns about overheated housing markets
Fitch says changes to the stress test could raise credit risks for banks
The change isn't a game-changer, says economist Benjamin Tal
Economist Benjamin Tal says the test is “suboptimal”