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

Issue 6 - Minutes of Proceedings - December 1, 2011

OTTAWA, Thursday, December 1, 2011
(15)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:32 a.m., in room 9, Victoria Building, the chair, the Honourable Michael A. Meighen, presiding.

Members of the committee present: The Honourable Senators Gerstein, Greene, Hervieux-Payette, P.C., Meighen, Moore, Oliver, Ringuette, Smith (Saurel), Stewart Olsen and Tkachuk (10).

In attendance: John Bulmer and Adriane Yong, Analysts, Parliamentary Information and Research Service, Library of Parliament.

Also in attendance: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Tuesday, June 21, 2011, the committee continued its examination of the present state of the domestic and international financial system. (For the complete text of the order of reference, see proceedings of the committee, Issue No. 1.)

WITNESSES:

Credit Union Central of Canada:

David Phillips, President and Chief Executive Officer.

Alterna Savings:

John Lahey, President and Chief Executive Officer.

Steinbach Credit Union:

James Gosselin, Vice President, Corporate Lending.

Canadian Bankers Association:

Marion Wrobel, Vice-President, Policy and Operations;

Gail Cocker, Vice-President, Commercial Banking and Global Treasury Management, BMO Financial Group.

The chair made an opening statement.

Mr. Phillips made a statement and, with Messrs. Lahey and Gosselin, answered questions.

At 11:40 a.m., the committee suspended.

At 11:42 a.m., the committee resumed.

Mr. Wrobel and Ms. Cocker each made a statement and together answered questions.

At 12:30 p.m., the committee adjourned to the call of the chair.

ATTEST:

Adam Thompson

Clerk of the Committee