Canada Increases Banks Reserve Requirements To 11.5% Amid Recession Risk

[Economy 52,845]

https://www.bnnbloomberg.ca/osfi-buffer-hike-could-challenge-banks-in-a-deep-recession-expert-says-1.1936091

 

Canada's Bank regulator has increased the minimum bank capital reserve requirements to 11.5% amid risks of rising defaults amid high debt levels, rising interest rates and a possible recession... A terrible combination that's a recipe for disaster as far as increasing likelyhood of defaults, delinquencies and bankruptcies

 

When regulators increase buffer requirements it usually means they are worried and trying to be proactive

 

However all the major banks currently exceed the new minimum requirements 

[Tyler1992 2,340]

What does this mean for my broke ass? 

[Economy 52,845]

38 minutes ago, Tyler1992 said:

What does this mean for my broke ass? 

Absolutely Nothing