October 10, 2017 / 6:42 PM / a year ago

Canada's indebted households vulnerable to shock-BOC's Wilkins

OTTAWA, Oct 10 (Reuters) - Canada’s household sector is vulnerable to any kind of negative shock due to its high level of indebtedness, but stress tests show Canada’s banking system should weather a drop in house prices, Bank of Canada Senior Deputy Governor Carolyn Wilkins said on Tuesday.

Speaking at an IMF panel in Washington on financial stability and systemic risks, Wilkins said a lot of the household debt in Canada is concentrated with young or low income segments of the population, as well as in regions with high house prices, such as Toronto or Vancouver. (Reporting by Andrea Hopkins; Editing by David Gregorio)

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