Canada's Murray on domestic credit markets

Strains in Canadian credit markets have been considerably less intense than those seen in the United States and elsewhere, said John Murray, a deputy governor of the Bank of Canada.

Murray said that Canadian banks have healthy balance sheets and absolute leverage that is significantly lower than many of their international peers. They are also less exposed than their US counterparts to the subprime mortgage market and are less dependent on securitisation for their financing and on capital markets

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