Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 32 - Minutes of Proceedings

MONTREAL, Thursday, October 22, 1998
(60)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 9:00 a.m. in Room Alfred Rouleau, Wyndham Hotel, in Montreal, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Angus, Austin, P.C., Callbeck, Hervieux-Payette, P.C., Kelleher, P.C., Kirby, Kolber, Kroft, Oliver and Tkachuk (10).

In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.

Also present: The official reporters of the Senate.

WITNESSES:

From the Laurentian Bank of Canada:

Mr. Henri-Paul Rousseau, President and Chief Executive Officer; and

Mr. Robert Cardinal, First Vice-President and Finance Chief.

As an individual:

Mr. André Lizotte.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of the Task Force on the Future of the Canadian Financial Services Sector. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference.)

Mr. Rousseau made an opening statement and then, along with Mr. Cardinal, answered questions.

Mr. Lizotte made an opening statement and then answered questions.

At 11:30 a.m., the committee adjourned to the call of the Chair.

ATTEST:

MONTREAL, Thursday, October 22, 1998
(61)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 1:30 p.m. in Room Alfred Rouleau, Wyndham Hotel, in Montreal, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Angus, Austin, P.C., Callbeck, Hervieux-Payette, P.C., Kenny, Kirby, Kolber, Kroft, Oliver and Tkachuk (10).

In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.

Also present: The official reporters of the Senate.

WITNESSES:

From Insurance Consumer's Group:

Mr. William R. Podmore, Executive Director; and

Mr. Yves Lauzon, Lauzon Bélanger.

From the Canadian Association of Mutual Insurance Companies:

Mr. Normand Lafrenière, President.

From Capital One Financial Corporation:

Mr. Matthew J. Cooper, Senior Vice-President; and

Mr. Christopher T. Curtis, Associate General Counsel.

From the Regroupement des cabinets de courtage d'assurance du Québec:

Mr. Louis Proulx, President; and

Mr. Robert Ballard, Broker, Association d'assurances canadienne des courtiers d'assurances du Canada.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the ommittee resumed its examination into the state of the financial system in Canada and in particular its study of the Task Force on the Future of the Canadian Financial Services Sector. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference.)

Mr. Podmore made an opening statement and then answered questions.

Mr. Lafrenière made an opening statement and then answered questions.

Mr. Cooper made an opening statement and then, along with Mr. Curtis, answered questions.

Mr. Proulx made an opening statement and then, along with Robert Ballard, answered questions.

At 5:00 p.m., the committee adjourned to the call of the Chair.

ATTEST:

MONTREAL, Friday, October 23, 1998
(62)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 9:00 a.m. in Room Alfred Rouleau, Wyndham Hotel, in Montreal, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Angus, Austin, P.C., Callbeck, Hervieux-Payette, P.C., Kenny, Kirby, Kolber, Kroft and Oliver (9).

Other senator present: The Honourable Senator Joyal.

In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.

Also present: The official reporters of the Senate.

WITNESSES:

From the Canadian Payments Association:

Mr. Robert M. Hammond, General Manager; and

Mr. Doug A. Kreviazuk, Director, Policy and Planning.

From the Commission des valeurs mobilières:

Mr. Jean Martel, President; and

Mr. Viateur Gagnon, Vice-President.

As an individual:

Professor Jean Roy.

Mr. Hammond made an opening statement and then, along with Mr. Kreviazuk, answered questions.

Mr. Martel made an opening statement and then, along with Mr. Gagnon, answered questions.

Professor Roy made an opening statement and then answered questions.

At 12:35 p.m., the committee adjourned to the call of the Chair.

ATTEST:

MONTREAL, Friday, October 23, 1998
(63)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 1:45 p.m. in Room Alfred Rouleau, Wyndham Hotel, in Montreal, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Austin, P.C., Hervieux-Payette, P.C., Kirby, Kolber and Oliver (5).

Other senator present: The Honourable Senator Joyal.

In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.

Also present: The official reporters of the Senate.

WITNESSES:

From Le Mouvement des caisses Desjardins:

Mr. Claude Béland, President;

Mr. Jean-Guy Langelier, President and Chief Executive Officer, Caisse centrale Desjardins;

Mr. Yves Morency, Director, Government Relations, Confédération des caisses populaires et d'économie Desjardins du Québec; and

Mr. Nguyen H. Trung, Senior Vice-President, Administration and Operations.

Mr. Béland made an opening statement and then, along with Messrs. Langelier and Morency, answered questions.

At 3:40 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Gary Levy

Clerk of the Committee

Proceedings of the Standing Senate Committee on Banking, Trade and Commerce

Issue 32 - Minutes of Proceedings

Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce