As a result, there has been an international endeavor to strengthen regulation of banks and financial institutions and bring about a greater element of convergence therein. Against this backdrop, firstly, I would outline the drivers for changing regulation of banks. Secondly, I would briefly present the global efforts aimed at formulating a regulatory reform agenda.
Tiff Macklem: Global financial reform – maintaining the momentum Remarks by Mr Tiff Macklem, Senior Deputy Governor of the Bank of Canada, presented to the G-20 Workshop, Paris, 7 July 2011.