In the latter half of 2008, financial institutions in many countries, especially on the USA and UK, were battered by financial crisis , with falling real and financial assets values and a spate of bankruptcies resulting in a domino effect.

Canada's financial system was less affected by these gyrations than financial systems in many other countries.

Could the fact that Canadian deposit -takers are dominating by the " big six" chartered banks have played role?

What other factors might have been at play?Discuss using the concepts introduced in chapter 12"Money"