Past flaws of U.S. housing not seen in Canada-BoC's Lane

Wed Sep 24, 2014 4:12pm EDT
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OTTAWA, Sept 24 (Reuters) - Canada's housing finance system is much more stable than the one that brought down the U.S. market several years ago, Bank of Canada Deputy Governor Timothy Lane said on Wednesday, noting the central bank pays close attention to the sector because of the risks of a bubble.

"Generally our assessment is that the Canadian housing finance system is way more resilient than the U.S. system, that there were a number of flaws in the U.S. system running up to the crisis which are decidedly not a feature of our system," Lane said during a question-and-answer session following a speech at Carleton University. (Reporting by David Ljunggren, writing by Leah Schnurr, editing by G Crosse)