prior to the recent financial crisis. As such, international policy discussions are considering an unweighted leverage ratio … banks was relatively stable leading up to the crisis, reducing pressure for deleveraging during the economic downturn …

, compared to recent financial crises, including the 1987 U.S. stock market crash, 1994 Mexican peso crisis, and 1997 East Asian … crisis, the ongoing 2007 subprime crisis has been having more persistent and stronger contagion impacts on the Canadian … banking system. Second, the October 1997 East Asian crisis induced contagion in Asian countries, and it quickly spread to …