Good morning. Deputy Governor Toni Gravelle and I are pleased to be here to discuss the Bank of Canada’s Financial Stability Report, or FSR. A stable and efficient financial system is essential to our economy. It supports growth and helps households and businesses to save, invest and manage risks. We monitor the financial system closely—and each year, we publish this report to share our assessment with Canadians. The FSR is very different from our Monetary Policy Report. It is not a forecast, and it does not guide interest rate decisions. Instead, it gauges the resilience of the Canadian financial system and explores ... (full story)