Bank Of Canada Warns Non-Banks Increase Vulnerabilities

On March 4, 2026, Bank of Canada Governor Tiff Macklem warned that non-bank actors in global debt markets are increasing financial vulnerabilities amid geopolitical and energy market volatility. He noted hedge funds now buy up to half of Government of Canada bond auctions and private credit is growing without comparable reporting. Macklem urged improved regulator-private sector coordination to build resilience against potential market stress.