Canada’s banks say they are supportive of the federal government’s latest step to maintain the availability of longer-term funding in Canada by purchasing up to $25 billion in insured mortgage pools through the Canada Mortgage and Housing Corp.

“Today’s announcement by the Minister is an important measure in making credit more available in the consumer marketplace. This is a safe, efficient and economic way of facilitating credit markets,” the Canadian Bankers Association said.

The CBA also noted that the World Economic Forum’s Global Competitiveness Report, released this week, found that Canada has the most sound banking system in the world.