The Problem With Canada's Poor Productivity Growth

Ospi has come out this week and said, we've got a proposal in the works that says any of these banks that have these variable rate mortgages that are blowing out. They're going to force the banks to hold more capital against those loans up to 65%. So basically, if if the loan to value exceeds 65% loan to value, they're going to require the banks to holding more capital againstThose loans. And it sounds like this Ospi change will come in in the in probably Q1 of 2024, expect a lot of these banks to change their variable mortgage product for new issuers.