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Canadian banks ask regulators to remember existing reforms when setting reform timetable

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19 Aug 2011

The Canadian Bankers Association (CBA) has noted that regulators should carefully monitor the total regulatory burden.

In a pre-budget submission to the Canadian House of Commons Standing Committee on Finance, the CBA notes that one of the most significant challenges for the Canadian banking sector over the next few years will be the implementation of numerous global and domestic regulatory, capital and liquidity reforms (such as Basel III). The submission argues too rapid an adoption of reform may place Canadian banks at competitive disadvantage, noting the implementation of other reforms as well as Canada's current transition to IFRSs:

Click for CBA submission (link to CBA website) and our Canada country page.

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