Many jurisdictions are adopting committees to oversee their financial systems. 5 Based on a working group report chaired by Canada’s Superintendent of Financial Institutions, the Financial Stability Board will propose to G-20 leaders in Seoul a series of recommendations to strengthen oversight and supervision.
6 Well-regulated mortgage market Given the genesis of the crisis in U.S. subprime mortgages and its subsequent potential to taint everything related to mortgages and securitization, the structure of Canadian mortgage finance also proved to be a major advantage. Common-sense attributes include mortgagors being personally liable for their debts and mortgage interest not being tax-deductible.