Accordng to CNBC, the Canadian banking system "survived the financial crisis virtually unscathed—no Canadian bank failed, none even cut their dividends," said Taft. "This despite the fact that there are six banks in that economy that account for 90 percent of the deposits."
"Canada is all about 'too big to fail' and it didn't seem to affect the performance of the banking sector up there," he explained. Taft noted Canada's banks are outperforming U.S. banks due to its regulatory system, high-quality mortgage system, higher capital ratio, funding from stable retail deposits and conservative culture….
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