Two major Canadian banks, RBC and CIBC, are facing rising loan delinquencies as defaults climb, especially in Ontario. RBC’s $1.1 trillion loan book has an estimated $11 billion in potential defaults, yet they’re reducing loan loss provisions instead of increasing them. Housing values have dropped sharply, with some homes losing over 60% of value. Analysts warn Canada is already in a recession, and the banking system could face serious strain.
Caanda
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