深度报告-2025-09-01-IMF-加拿大_金融部门评估计划系统风险分析技术说明（英）页_132页_6mb

Executive Summary

The IMF Country Report No. 25/244 presents a Financial Sector Assessment Program (FSAP) for Canada. It evaluates the overall stability of Canada's economy and its financial system, including banking, insurance, and pension sectors.

Key macroeconomic challenges include rising trade tensions and inflation concerns. Despite these challenges, the Canadian economy has shown resilience. A severe adverse scenario with deepening geoeconomic fragmentation and higher interest rates indicates that the banking system remains stable.

The seven systemic deposit-taking institutions are resilient to the adverse scenario, though there are calls to enhance stress testing methodologies and incorporate more structural models. Interconnectedness within the financial system poses potential risks, and the analysis stresses the need for vigilant monitoring and integration of bottom-up risk assessments. Liquidity stress tests also reveal that Canada's systemic deposit-taking institutions are well-positioned to handle significant withdrawal scenarios.

The insurance and pension sectors are also remarkably stable, with the regulatory framework widely adopted and effective. The report concludes with policy recommendations focusing on improving transparency and data quality across all financial sector assessments.