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Debt levels inch higher
Loans, credit card debt creep up as holidays approach
Last Updated: December 1, 2011
Ballooning credit card bills, tangled lines of credit and hefty personal loans - these financial burdens continue to weigh heavily on the minds of Canadian consumers as the holidays near. Chartered Canadian banks are holding rising amounts in outstanding personal loans, credit card balances and lines of credit, according to the Bank of Canada. Mortgage assets are also on the uptick. The chart below shows the growing debt load being held by Canada's banks.