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Canada to buy up to $25 bln in insured mortgages (Reuters via Yahoo! News)
Canada plans to buy up to C$25 billion ($21 billion) in insured residential mortgages to help cushion banks from the global financial crisis and address a "scarcity" of private-sector lending, Finance Minister Jim Flaherty said on Friday.
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Canada to buy up to $25 billion in insured mortgages (Reuters via Yahoo! News)
Canada plans to buy up to C$25 billion in insured mortgages to help cushion banks from the global financial crisis and address a "scarcity" of private-sector lending, Finance Minister Jim Flaherty said on Friday.
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Canada Agrees to Buy C$25 Billion in Mortgages (Update6) (Bloomberg)
Oct. 10 (Bloomberg) -- The Canadian government moved to shore up the nation's banks by taking on some of their mortgages in a bid to ease higher borrowing costs that have crippled lending.
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Canada reacts to credit crisis by buying mortgages (AP via Yahoo! Finance)
Canada is buying up to $25 billion Canadian in mortgages from the country's banks in an effort to maintain the availability of credit, the country's finance minister said Friday.
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Canada Agrees to Buy C$25 Billion in Mortgages (Update4) (Bloomberg)
Oct. 10 (Bloomberg) -- The Canadian government moved to shore up the nation's banks by taking on some of their mortgages in a bid to ease higher borrowing costs that have crippled lending. Toronto-Dominion Bank responded by cutting its prime rate.
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Canada Agrees to Buy C$25 Billion in Mortgages (Update3) (Bloomberg)
Oct. 10 (Bloomberg) -- The Canadian government shored up the nation's banks by taking on some of their mortgages in a bid to ease soaring borrowing costs that have crippled lending.
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Canada reacts to credit crisis by buying mortgages (Pittsburgh Post-Gazette)
TORONTO -- Canada's finance minister says the government is buying up to $25 billion Canadian ($21 billion) in mortgages form the country's banks in an effort to maintain the availability of credit.
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Ottawa takes $25 billion in mortgages off banks' books to loose credit (The Canadian Press via Yahoo! Canada News)
OTTAWA - The federal government is buying up $25 billion in residential mortgages to give the chartered banks additional cash to issue loans, Finance Minister Jim Flaherty announced Friday.
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Canada to buy up to $25 bln in insured mortgages (Reuters via Yahoo! Canada News)
Canada plans to buy up to C$25 billion in insured mortgages in a bid to help cushion the blow from the global financial crisis and address the "scarcity" of private sector lending, Finance Minister Jim Flaherty said on Friday.
us.rd.yahoo.com
Ottawa To Purchase $25B In Mortgages In Wake Of Global Credit Crunch (CityNews)
The buy-up essentially takes pressure off the banks and allows for longer-term credit, making loans and mortgages more affordable.
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