Household debt can be an important source of vulnerability to the financial system. This technical report describes the Household Risk Assessment Model (HRAM) that has been developed at the Bank of Canada to stress test household balance sheets at the individual level.
RemarksLawrence L. SchembriJoint Workshop: Bank of Canada, International Monetary Fund, Centre for International Governance Innovation, and Peterson Institute for International EconomicsOttawa, Ontario
Deputy Governor Lawrence Schembri discusses central banks and the maintenance of financial stability.