As this process proceeds, we anticipate also working with the OCC and FDIC to identify the changes in risk measurement, management and governance that will be necessary to improve riskcontrol practices surrounding the firm’s trading activities and to address trading strategies that led to these losses.
In contrast, the level of imports has already regained its pre-recession peak. This divergence has contributed to a decline in Canada’s current account balance, which has dropped from a pre-recession surplus to a deficit of approximately 2 per cent of GDP – a trend that is projected to persist (Chart 7).