Resources for Basel II Capital Accord (Basel II)

Canadian Banks Are Well Prepared to Deal With Risks, CBA Says

www.economicnews.ca

A survey of Canadian financial sector leaders and watchers found fewer than a quarter believe Canadian banks are well-prepared to manage risks including those related to derivatives, credit spreads and liquidity issues. But the Canadian Bankers Association (CBA)says its members are well positioned to deal with problems facing the industry.
The 'Banking Banana Skins' poll, conducted annually by the London, England-based Centre for the Study of Financial Innovation (CSFI) think-tank, polled nearly 300 senior financial world figures in 38 countries and showed the current global financial crisis is weighing heavily on the industry's collective imagination.

"This year, two of the top three risks - liquidity and credit spreads -have never previously appeared in the rankings, an indication of how dramatically the risk scene has changed," says Diana Chant, leader of the financial services practice at PriceWaterhouseCoopers LLP, which sponsors the poll.

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