Canada and Australia are running the risk of a banking crisis of the type that hit Iceland in 2006, according to a report from Fitch Ratings.
The agency gives economies a ‘macro-prudential’ indicator, which measures vulnerability to the sort of systemic stress that tends to trigger a banking crisis. In its latest banking report, issued today, Fitch promotes Australia, Canada and Iran to level three, joining Iceland on the highest level.
A score of three, Fitch says, means private sector credit i
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