08
Jul
Ottawa’s mortgage aid may cost banks – The Globe and Mail
Posted by: admin / Category: Canadian Economy, National NewsThe federal government’s program to buy up to $125-billion in mortgages, called the Insured Mortgage Purchase Program (IMPP), worked brilliantly, and the country’s banks weathered the crisis with few major problems and no taxpayer bailout. But some analysts are wondering whether banks have been too enthusiastic about selling their loans to Ottawa – with negative implications for their future profits.
via Ottawa’s mortgage aid may cost banks – The Globe and Mail.
Tags: bank borrowing, big banks, federal government, future profits, government lending, impp, insured mortgage purchase program, mortgage portfolios, ottawa, residential mortgages, securitizations, tax deductibility
