Major reform unlikely, but some fine-tuning may be required
Reforms will benefit Canada’s economy
Banks well-positioned to adopt new rules
The existence of higher levels of better quality capital will likely be positive for senior bank creditors and for overall bank stability in the long-term
Capital reforms will be presented to the G20 Leaders summit in November
There has been only limited progress at enhancing disclosure
Bailing out Lehman would have saddled U.S. taxpayers with billions of dollars in losses, Bernanke says
Despite the difficulty of reaching consensus, multilateral financial reform is crucial
Financial crisis highlighted need for change
Legislation to create new regulatory authorities expected in the current Parliamentary session