By Daniel Seleanu, Compliance Complete

TORONTO, July 1, 2014 (Thomson Reuters Accelus) - Canada’s overheated housing market represents a significant risk to the stability of its financial system, the country’s central bank has warned.

In its recently released Financial System Review (FSR) (PDF), the Bank of Canada (BOC) warned that while the system was stable overall, it remained vulnerable to several risks that could trigger a disorderly market correction. The economic and financial consequences of such a correction would be severe, the BOC predicted.  (more…)