Canada with its $1.6 trillion economy ranks the 9th largest in the world in fact moved up from its 4th place showing to grab the number one spot – no mean feat given the economic climate and the stiff competition out there. One factor that helped Canada move up was the ability of its major banks and financial system to weather the global financial meltdown. The stability of the Canadian financial system comes as no accident but is the result of some very prudent and stringent regulations making the financial houses in Canada conservative by nature.