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Canada's banking watchdog sets new rules for mortgage lending

Staff Writer |
Canada's banking watchdog said it will introduce new rules on mortgage lending next year, requiring stress tests on uninsured mortgages and cutting out practices designed to circumvent lending limits.

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The Office of the Superintendent of Financial Institutions had initially proposed the new rules in July and has since been consulting with the industry and other stakeholders.

The new rules will come into effect on January 1, 2018.

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