33 In addition, I put serious weight on another explanation offered in private conversation by a veteran of the international central banking community, “Those Canadian banks aren’t very adventurous,” which I take to be a compliment. 34 Why is the TBTF phenomenon so central to the debate on reform of the financial system? It cannot be because financial institutions never fail.
* * * Chair, Committee members, Thank you for the invitation to discuss the Central Bank’s views on the No Consent, No Sale Bill 2019 (‘the Bill’). I am joined by Gráinne McEvoy, Director of Consumer Protection and Vasileios Madouros, Director of Financial Stability.