The Canadian Securities Administrators (CSA) has published the results of its 2023 Systemic Risk Survey (the Survey). This annual Survey, first conducted in 2022, provides the CSA with important information on market participants’ concerns about the stability of the Canadian financial system.

The 2023 Survey was conducted between October 16 and November 7, 2023. The Survey received responses from 489 Canadian portfolio managers and investment dealers. Overall, respondents reported that their concerns were somewhat more heightened over the previous year. Main concerns included the high level or Canadian household debt, high interest rates, the housing market, the geopolitical environment, and cyber vulnerabilities.

Approximately 65% of respondents reported they were somewhat to very concerned about the stability of the Canadian financial system. This represented increase of about three per cent from a year ago. Over 75% of respondents felt that household debt posed a high or very high risk to Canadian financial stability.

The 2023-2023 CSA Systemic Risk Survey is available for download from the website of the Canadian Securities Administrators.

For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.

This publication is not intended to constitute legal advice. No one should act on it or refrain from acting on it without consulting with a lawyer. BAX does not warrant or guarantee the accuracy or currency or completeness of the publication. No part of this publication may be reproduced without the prior written permission of BAX Securities Law.