Finance Minister John Manley is rethinking Ottawa’s process for reviewing mergers between Canada’s major banks. On Thursday, Manley asked the House of Common’s Standing Committee on Finance and the Standing Senate Committee on Banking, Trade and Commerce to review the public interest aspect of Ottawa’s relatively new merger review process.

In a letter to the two committees, Manley said he agrees with some “stakeholders” that aren’t happy with the way Ottawa considers whether a proposed bank merger is in the public interest.

“The government agrees and in this regard it would be most helpful if your committees would provide us with views on the major considerations that should apply in determining the public interest,” said the letter, signed by Manley and Maurizio Bevilacqua, secretary of state for financial institutions.