Canadian Banks Not Effected Like Germany, Australia

With another lesson on how to instill or lose the trust of friends, Canada’s five largest banks may report losses related to the deteriorating U.S. subprime mortgage market but they should be “manageable,” bond rating agency DBRS said on Wednesday. In addition to their capital markets businesses, some Canadian banks have “modest” banking exposure from loans to U.S. subprime borrowers or to other mortgage lenders, the firm said. Canadian banks will report in late August.