Figure 9 Financial Sector Indicators Dec-01  Dec-02  Dec-03  Sep-04  Deposits by Private Sector/GDP(%)  35.1  37.1  32.9  32.3  Credit to Private Sector/GDP(%)  28.3  30.5  27.8  29.7  Non Performing Loans/Total Loans(%)  3.2  3.6  2.0  2.4  Capital Adequacy Ratio  19.5  20.6  20.3  23.3  Aggregate Mutual Fund Value $  9,096  12,305  15,997  22,791  Deposits by Private Sector $  19,284  20,527  21,759  22,490  The Financial System The indicators shown in Figure 9 point to the rapid evolution and the increasing robustness of our financial sector.
I want to discuss the impact of the crisis on Canadian business and how the firms that have survived have changed and are responding. We need business confidence to continue to heal. This matters very much to the Bank of Canada. Our understanding of these issues will be part of the rigorous distillation of information that drives our policy decisions.