Ratings Agency: Canadian Banks and Broker Network

ratings agency: The situation is bringing unwanted negative attention to Canada's financial system from abroad, according to Huffington Post Canada. Bets against the loonie and against Canadian banks are at elevated levels. Home Capital has seen 94 per cent of the deposits in its savings accounts disappear in recent weeks, as depositors fled the bank following allegations from the Ontario Securities Commission that management misled investors about mortgage fraud within its broker network. Ratings agency Moody's this week downgraded Canada's Big Six banks, warning that consumer debt levels are too high. Photo Cole Burston/Bloomberg via Getty Images Here are the latest developments in the Home Capital saga Morneau won't rule out federal bailout Finance Minister Bill Morneau did not rule out a taxpayer-funded bailout of Home Capital in an interview this week, but said he is looking for the private sector to find a solution. The Home Capital Group Inc. headquarters office is shown in Toronto on May 4, 2017. (www.immigrantscanada.com). As reported in the news.