Delinquency rates on loans have risen as well, with the proportion of mortgages with payments in arrears three months or more having increased by half over the past year. Stress testing the Canadian household sector To understand better the vulnerability of Canadian households, and the consequences for financial stability, the Bank undertakes regular stress tests.
When markets stabilized, I worked to responsibly wind down the emergency facilities we established. Today the economy is making welcome progress, but the pandemic continues to pose challenges. Our priority is to protect the gains we have made and support a full recovery.