Canada and the United States have long-established economic and financial ties built on trust that have served both countries well. Today, we have a unique opportunity to advance the global financial reform agenda in the critical, but thorny, areas of bank resolution, OTC derivatives and payments. We both have much to gain by strengthening financial integration between our countries.
More efficient cross-border financial services will facilitate more trade. And more trade will contribute to stronger economic growth in both countries. 24  The Canada Deposit Insurance Corporation and the Federal Deposit Insurance Corporation have a memorandum of understanding in place to consult, co-operate and share with each other information on the resolution of cross-border banks.