BOC Survey
- 25% of those surveyed said a 150 to 200 basis point rise in Canadian 5-year interest rates over 12 months could trigger adverse events such as a house price correction or large increase in household defaults
- Compared to Spring survey respondents see increased risk related to deteriorating Global economic outlook.
- Potential for cyber attacks is the most important risk to Canadian Financial System
- Canada Banks Capital positions would not be threatened in the event of a 20% average housing correction (Bank of Canada says it is unlikely there would be a 20% fall in housing prices as envisioned by the model)