The proposed regime is similar to the one that was adopted for the major Canadian banks
Executives outline bank’s short-term goals at investor day event
Increase follows Bank of Canada decision
Industry expansion will require more extensive financial services
Revisions designed to address key weaknesses exposed by the financial crisis
Current system protects banks, consumer advocates say
Immature technology poses challenges for future applicability in the banking sector
Interest rate risk can affect the safety and soundness of financial institutions
New enforcement division will improve agency’s ability to protect consumers
Banks have the financial resources and the tech expertise to adapt, but the trend is still going to dent their earnings