Earnings & Dividend Growth Presentation
CANADIAN ECONOMY AND FINANCIAL SYSTEM
Stable economy with sound financial system
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CANADIAN ECONOMY
The 10th largest economy in the world,
with an outward orientation
Economy diversified, with particular
strength in service, primary,
manufacturing, construction,
and utility sectors
Proactive governments and central
bank that has begun unwinding
exceptionally accommodative
monetary policy
• Manageable government deficits
and debt burdens
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Strong growth outlook, with firm
commodity prices, resilient consumer
activity, and solid U.S. demand for
Canadian goods and services
STRONG FINANCIAL SYSTEM
Effective regulatory framework
○ Principles-based regime
Single regulator for major banks
Conservative capital requirements
o Proactive policies and programs
Risk-management practices
O Prudent lending standards
。 Few sub-prime mortgages
Relatively little securitization
Primarily originate-to-hold model
Canadian banks well-capitalized
and profitable
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