Canada’s Federal Agencies Coordinate Efforts to Support the Financial System Amid the Coronavirus Disease (COVID-19) Pandemic
DBRS Limited (DBRS Morningstar) published a commentary reviewing the coordinated efforts by Canada’s federal agencies to support the financial system amid the Coronavirus Disease (COVID-19) pandemic.Key highlights include:
-- DBRS Morningstar views Canadian-rated banks as well positioned to cope with the rapidly deteriorating economic environment stemming from the coronavirus pandemic, given their strong levels of capital and liquidity.
-- Prior crises and economic shocks have led to enhanced stress testing over the years, thus improving banks' ability to respond to adverse environments.
-- Quick and coordinated efforts by Canada's federal agencies have enabled the introduction of several measures to increase market confidence and keep liquidity flowing.
-- Some of these measures are more advanced than those introduced during the 2008 financial crisis.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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