The regional nature of our housing market highlights that all of us should be looking at ways to improve the safety and efficiency of our mortgage market. More choice for borrowers and more ways for lenders to diversify risks are desirable. To be clear, the system is not broken—it has served Canadians and financial institutions well. But we should not stop looking for improvements.
And I invite all of you to join this effort. I would like to thank Ron Morrow, Jason Allen, Brian Peterson, Adi Mordel and Nigel Stephens for their help in preparing this speech. 6/6  BIS central bankers' speeches