Canadian insolvency filings have been surging, but it doesn\u2019t really matter. That was the take from BMO Capital Markets<\/a>, which dismissed the issue due to population growth. In a note to investors, the bank explained the per capita trend remains healthy. There\u2019s just one problem\u2014their take makes no sense.\u00a0<\/p>\n There were 13,254 insolvency filings in June, up 11.5% from last year and more than double 2020\u2019s volume. Only June 2009 came in higher<\/a>, with nothing else even close on the books. That may sound concerning, but BMO sees population growth as a mitigating factor.\u00a0<\/p>\n \u201cAs has been reported in recent days, consumer insolvencies are running near the highest level since the 2009 recession. Adjusting for the size of Canada\u2019s population, however, the level has basically just normalized back to pre-pandemic conditions,\u201d explains BMO senior economist Robert Kavcic.\u00a0\u00a0<\/p>\n More people equals a smaller ratio of credit losses, after all. \u201c\u200b\u200bThe real story is that there is really no story,\u201d he adds.\u00a0<\/p>\n Not exactly.<\/p>\n Canadian insolvencies per capita, seasonally adjusted<\/em>. <\/p>\nCanada Has Near-Record Insolvencies. Does It Matter?\u00a0<\/strong><\/h2>\n
Canadian Insolvencies Per Capit<\/strong>a Are Low. That Doesn\u2019t Mean What Many Think It Does<\/h2>\n
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