According the Superintendent of Financial Institutions in Canada, our banks are not subjected to the same concerns that those south of the border are dealing with. This is good news for investors in Canada. In the short-term the markets may be choppy, but Canada should continue to be a good place to invest. Here is the short-story below from Reuters:
OTTAWA (Reuters) - Canada's banking regulator said the country's financial institutions are healthy and it has no plans for special measures to help banks cope with the deepening crisis in world financial markets.
"No special action is planned in response to the announcements from the U.S. because the Canadian banking system is safe and sound," Rod Giles, spokesman for the Office of the Superintendent of Financial Institutions, told Reuters.
"Our institutions are well capitalized which helps them deal with the events taking place in the markets," he said.
(Reporting by Louise Egan; editing by Janet Guttsman)
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