OSFI Tells Banks to Stress-Test a Sharp Decline in Home Prices in Greater Vancouver, Toronto

OSFI urges some banks to stress-test a 30% drop in home prices. Canada’s banking watchdog is requiring some financial institutions to stress-test against sharp declines in house prices in Greater Vancouver and Greater Toronto, the country’s two hottest markets. The Office for the Superintendent of Financial Institutions (OSFI) sent out a notice to certain banks…