The Canadian Securities Administrators (CSA) published a summary of results from its fourth annual systemic risk survey, indicating that market participants’ concern about the stability of the Canadian financial system has increased slightly compared with prior years. Trade-related risks, cyber vulnerabilities and household debt were identified as the leading areas of concern. The survey was completed by 505 Canadian portfolio managers and investment dealers between October 16 and November 6, 2025. The CSA described the findings as an input to its ongoing work to monitor financial vulnerabilities and support financial stability, including through the CSA Systemic Risk Committee’s initiatives.
Canadian Securities Administrators 2025-12-04
Canadian Securities Administrators publish 2025 systemic risk survey summary showing slightly higher financial stability concerns
The Canadian Securities Administrators (CSA) released results from its fourth annual systemic risk survey, showing a slight increase in market participants' concerns about the stability of the Canadian financial system. Key concerns include trade-related risks, cyber vulnerabilities, and household debt. The findings will inform the CSA's ongoing efforts to monitor financial vulnerabilities and support stability.