Gregory on Canada Banks' Use of Insured Mortgages

Gregory on Canada Banks' Use of Insured Mortgages Play

March 21 (Bloomberg) -- Michael Gregory, senior economist at Bank of Montreal's BMO Capital Markets, talks with Bloomberg's Chris Fournier about Canada's decision to reduce commercial banks' ability to use insured mortgages as balance-sheet capital and the impact of the change on the country's banking industry. The move, designed to limit risks to taxpayers from weakness in the housing market, aims to restrict the amount of so-called portfolio insurance -- government protection on mortgages with more than 20 percent equity -- which banks can hold on their balance sheets. (Source: Bloomberg)

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