© Dmitriy Shironosov / 123RF Stock Photo So far, government support measures are shoring up Canadian households and asset quality. However, the duration of the Covid-19 crisis, coupled with government and household responses, will dictate how well they hold up in the months ahead, says Moody’s Investors Service.
In a new report, the rating agency said that the federal government’s response to the pandemic has supported banks’ consumer asset quality during the economic disruption.
“Basic income and wage subsidies, loan deferrals and interest rate relief have reduced insolvencies, stabilized escalating consumer debt and prevented mass loan charge-offs,” it said.Moody’s reported that, […]
Full Post at www.advisor.ca