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

Issue No. 40 - Minutes of Proceedings - May 9, 2018

OTTAWA, Wednesday, May 9, 2018


The Standing Senate Committee on Banking, Trade and Commerce met this day at 3:33 p.m., in room 9, Victoria Building, the chair, the Honourable Douglas Black, presiding.

Members of the committee present: The Honourable Senators Black (Alberta), Moncion, Ringuette, Tannas, Unger, Wallin and Wetston (7).

In attendance: Adriane Yong and Brett Stuckey, Analysts, Parliamentary Information and Research Services, Library of Parliament.

Also present: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Tuesday, April 24, 2018, the committee continued its examination of the subject matter of those elements contained in Divisions 2, 4, 5, 6, 7, 12, 16 and 19 of Part 6 of Bill C- 74, An Act to implement certain provisions of the budget tabled in Parliament on February 27, 2018 and other measures.


Bank of Canada:

Toni Gravelle, Managing Director, Financial Markets Department;

Richard Wall, Managing Director, Currency Department;

Nikil Chande, Director, Financial Stability Department.

Canada Deposit Insurance Corporation:

John Rossi, Policy and Research Advisor.

Department of Finance Canada:

Yuki Bourdeau, Senior Advisor, Financial Sector Policy Branch;

Julien Brazeau, Senior Director, Financial Services Innovation, Financial Sector Policy Branch;

Justin Brown, Director, Financial Stability, Financial Sector Policy Branch;

Manuel Dussault, Senior Director, Framework Policy, Financial Sector Policy Branch;

Marie-Josée Lambert, Director, Crown Corporation and Currency, Financial Sector Policy Branch;

Nick Marion, Director, Reserves Management, Financial Sector Policy Branch;

Eleanor Ryan, Director General, Financial Institutions Division, Financial Sector Policy Branch;

Saskia Tolsma, Senior Economist, Sectoral Policy Analysis, Economic Development and Corporate Finance;

Jeremy Weil, Senior Project Leader, Financial Sector Policy Branch.

The chair made a statement.

Mr. Brown made a statement and, together with Ms. Bourdeau and Mr. Rossi, answered questions.

Mr. Marion and Mr. Gravelle each made a statement and answered questions.

Ms. Lambert and Mr. Wall each made a statement and answered questions.

Mr. Brown made a statement and, together with Mr. Chande, answered questions.

At 4:45 p.m., the committee adjourned to the call of the chair.


Lynn Gordon
Clerk of the Committee