Canadian financial institutions’ regulator moved to reassure investors as the country’s riskiest bank debt joined a global selloff after the value of some Credit Suisse Group AG bonds was wiped out in the bank’s takeover by UBS Group AG.
Canada’s federal government is stepping up environmental oversight in Alberta’s oil sands after Imperial Oil Ltd. and the provincial regulator were slow to report toxic spills.
Finance Minister Chrystia Freeland said Canada’s banks remain on solid ground despite global turmoil in the financial sector, and pledged to “exercise fiscal restraint” when she delivers the federal budget next week.
Canada’s finance minister stressed Monday that the country’s financial institutions are set up to weather the chaos roiling the banking world.
The Nexus trusted-traveller program will fully ramp back up within five weeks, allowing frequent border crossers to complete their applications and speed up their trips, the federal government said Monday.
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