With regard to the Financial Consumer Agency of Canada’s (FCAC) July 2023 Guideline on Existing Consumer Mortgage Loans in Exceptional Circumstances (Guideline): (a) how many financial institutions who provide mortgage lending in Canada were consulted by the FCAC on this Guideline; (b) did any of the financial institutions consulted raise concerns with the FCAC regarding the Guideline, prior to the implementation, and, if so, what are the details, including what concerns were raised and by which financial institutions; (c) if no financial institutions were consulted before the FCAC implemented the Guideline, why were they not consulted; (d) have any financial institutions raised concerns with the FCAC since the Guideline was introduced, and, if so, what are the details, including what concerns were raised and by which financial institutions; and (e) is the Guideline temporary or will the FCAC leave it in place indefinitely?
In the House of Commons on December 12th, 2023. See this statement in context.