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The Bank of Canada releases the 2023 Financial System Review

OTTAWA – The Financial System Review will be released on Thursday, May 18, 2023.


The Financial System Review (FSR) summarizes the Governing Council’s judgment on the main vulnerabilities and risks to the stability of the Canadian financial system and highlights the efforts of the Bank and other Canadian and international regulatory authorities to mitigate those risks. After a brief survey of macrofinancial conditions, the principal vulnerabilities and risks are examined.


10:00 (Eastern Time)


At 7:30 (ET), journalists are invited to review the Financial System Review, under embargo, at the Bank’s head office in Ottawa (please use the Bank of Canada Museum entrance, located at 30 Bank Street, on the corner of Bank and Wellington), as well as at the regional office in Toronto (Boardroom, 20th Floor, 150 King Street West). Please be sure to bring photo ID.

For security reasons, journalists wishing to attend must confirm their presence by contacting  before noon (ET) on Wednesday, May 17, 2023. Those who have not registered will not be admitted to the lock-up.

At 10:00 (ET), the lock-up ends and the embargo is lifted.

Media Briefing Session

At 08:30 (ET), senior Bank officers will provide background information and respond to questions on the content of the FSR. Information gathered at the session may be used freely in news reports and commentaries, provided it is not attributed to the Bank or its officers. Electronic recording is not permitted.


The Financial System Review will be available at 10:00 (ET) on the Bank’s website.

Media Availability

At 11:00 (ET), Tiff Macklem, Governor of the Bank of Canada, and Carolyn Rogers, Senior Deputy Governor, will hold a press conference in the Bank of Canada’s auditorium.

For security reasons, all media wishing to attend must register with the Bank in advance. To register, please contact before noon (ET) on Wednesday, May 17, 2023. Journalists, camera operators and still photographers who have not registered will not be admitted to the press conference.

Please use the Bank of Canada Museum entrance, located at 30 Bank Street (corner of Bank and Wellington), and bring photo ID.

Broadcasters needing to set up equipment will be granted access beginning at 10:00 (ET).

Please note that journalists not attending the press conference in person can register to dial in and ask questions. Journalists who would like to ask questions via teleconference should contact .


Audio and video webcasts of the press conference will be accessible from the Bank’s website.


For more information, please contact Media Relations.

Content Type(s): Press, Media advisories

Related information

May 18, 2023

Press Conference: Financial System Review - May 2023

Release of the Financial System Review — Press conference by Governor Tiff Macklem and Carolyn Rogers, Senior Deputy Governor (11:00 (ET) approx.).