But for now, suffice it to say that the decline in standards for loan origination, combined with financial engineering, was helping to spur greater lending. 3  David Dodge, "Past Adjustments and Future Trends in the Canadian Economy," (Bank of Canada, 2003). 4  Bank of Canada: "Financial System Review" (June 2004), p.4.
But we should never forget that the risks are still there because they are intimately associated with the structural transformation of the global economy. This is not, in any respect, a time for complacency.