Moody’s goes negative on Canadian banks

Outlooks for Canada’s seven largest banks have been downgraded from stable to negative by Moody’s Investor Service, the Financial Post reports.

Read: Why banks need more capital

The federal government’s plans to implement new rules for systemically important banks prompted the change in Moody’s outlook. The ratings service says that move is part of a worldwide trend to ensure large institutions are less reliant on public money in future financial crises.

Read more here.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.