Canada sets C$12 bln for car-loan-backed assets
OTTAWA, May 8 (Reuters) - The Canadian government rolled out a C$12 billion ($10.3 billion) program on Friday to buy securities backed by loans and leases on vehicles and equipment.
"A serious shortfall in Canada has been the lack of financing of vehicles and equipment for consumers and businesses," Finance Minister Jim Flaherty said in a speech in Hamilton, Ontario.
He also said he would be announcing new credit card regulations, focusing on disclosure. Aides have said he did not intend to cap interest rates charged by the card companies.
($1=$1.16 Canadian) (Reporting by Randall Palmer; Editing by Jeffrey Hodgson)
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