‘One-size-fits-all’ approach to regulation not appropriate
Much of the proposed financial reform agenda remains unfinished
Canada’s big banks are widely expected to be able to comply easily with the proposed global capital regulations
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