In its latest financial system review, released Tuesday, the central bank warns that risks to the Canadian financial system remain elevated largely because of historic levels of household debt that are continuing to rise. This leaves Canadian homeowners particularly vulnerable to a sharp drop in housing prices or a sudden spike in interest rates. Cyberattacks worryingThe bank also sounded the alarm on the impact a successful cyberattack could have on the Canadian financial system. Due to the interconnectedness of Canadian financial institutions, the central bank warned that a successful attack against a single institution could spread across the entire financial system. Because our financial system is so interconnected, a successful attack on one institution can potentially lead to widespread disruptions," said Poloz.

Source: CBC News November 28, 2017 15:56 UTC