Mr. Evan Siddall at the Government Operations and Estimates Committee

On June 9th, 2020. See this statement in context.

June 9th, 2020 / 6:10 p.m.

President and Chief Executive Officer, Canada Mortgage and Housing Corporation

There's no risk to the Bank of Canada. The Bank of Canada only buys mortgages that have CMHC insurance on them, or Government of Canada insurance, so they don't have credit risk associated with that.

We are actually reducing our risk as a result of these changes, so that homeowners have more equity, stronger credit or better ability to pay, in the event that they buy houses over the next period of time.

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