Canada says bailout needed in U.S., not in Canada

OTTAWA, Oct 3 (Reuters) - The Canadian government supports the U.S. bailout bill but does not believe anything remotely parallel is needed in Canada because of its more solid fundamentals, Finance Minister Jim Flaherty said on Friday.

He said Canada's banks are well-capitalized and within their statutory requirements, and households are "in much better shape" than their American counterparts.

Speaking in London, Ontario, he said Canadians are able to afford their mortgages, and he repeated assurances by Bank of Canada Governor Mark Carney that there are few signs that banks are restricting credit to households and that there is no evidence that companies are facing unusual credit restrictions. (Reporting by Randall Palmer; Editing by Peter Galloway)