The group, however, cautions that these indicators should not be treated as a formal stress test, but as a first step in a broader analysis. Canada 's household debt hit record ( $ 1.4tn ) in July 2017 , marking a 20 % rise , YoY , and putting the nation 's banking system at risk . Nearly 37 % of Canadians added to their debt loads , pushing the average amount up 3.3 % to £1 per person , not including mortgages , per Equifax Canada . Even so , nearly half of Canadians reduced their personal debt .
Canada 's household debt hit record ( $ 1.4tn ) in July 2017 , marking a 20 % rise , YoY , and putting the nation 's banking system at risk . Nearly 37 % of Canadians added to their debt loads , pushing the average amount up 3.3 % to £1 per person , not including mortgages , per Equifax Canada . Even so , nearly half of Canadians reduced their personal debt .