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BANC - Standing Committee

Banking, Commerce and the Economy


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

Issue 8 - Minutes of Proceedings - April 10, 2014

OTTAWA, Thursday, April 10, 2014


The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:30 a.m., in room 9, Victoria Building, the chair, the Honourable Irving Gerstein, presiding.

Members of the committee present: The Honourable Senators Bellemare, Black, Gerstein, Greene, Hervieux-Payette, P.C., Maltais, Massicotte, Ngo, Poirier, Ringuette and Unger (11).

In attendance: Barbara Reynolds, Procedural Clerk; Adriane Yong and Brett Stuckey, Analysts, Parliamentary Information and Research Service, Library of Parliament.

Also present: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Tuesday, March 25, 2014, the committee continued its examination on the use of digital currency. (For complete text of the order of reference, see proceedings of the committee, Issue No. 6.)


Canadian Bankers Association:

Darren Hannah, Acting Vice-President, Policy and Operations.

Royal Bank of Canada:

Carolyn Burke, Vice-President, International Cards and Canadian Regulatory Payments;

Jeremy Bornstein, Head, Emerging Payments.

Canadian Payments Association:

Doug Kreviazuk, Vice-President, Policy and Public Affairs;

Carol Ann Northcott, Vice-President and Chief Risk Officer.

The chair made an opening statement.

Mr. Hannah, Ms. Burke and Mr. Bornstein each made a statement and answered questions.

At 11:36 a.m., the committee suspended.

At 11:38 a.m., the committee resumed.

Mr. Kreviazuk made a statement and, together with Ms. Northcott, answered questions.

At 12:11 p.m., the committee suspended.

At 12:13 p.m., pursuant to rule 12-16(1)(d), the committee resumed in camera to consider a draft agenda (future business).

It was agreed that senators' staff be permitted to stay in the room provided they not use their blackberries, cellular phones or other electronic devices.

At 12:18 p.m., the committee adjourned to the call of the chair.


Danielle Labonté

Clerk of the Committee

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