And rising prices for essentials like groceries and rent are hitting lower-income Canadians particularly hard. Second, and related, the economy is still in excess demand-it's overheated. Job vacancies have declined from their peak but remain high, and businesses continue to report widespread labour shortages.
I trust that these lagging banking organizations in their own self-interest will promptly revise their systems, both to meet coming revisions in the regulatory capital system and to avoid the market’s criticism as information about more institutions’ systems becomes better known to creditors of banking organizations. Market discipline Indeed, harnessing the market to assist in the process is critical to supervising global financial institutions.