However, I am not here to boast about our past successes. My purpose today is more immediate, and comes in three parts. I will begin by describing the two major macroeconomic challenges to sustainable economic growth that we are presently facing in Canada.
Most banks have balanced financial conditions, together with a sufficiently clear and informed view of the trends, risks and opportunities of the current market situation. For a non-negligible number of them, there were some uncertainties at strategic level and some weaknesses around their ability to generate adequate income flows, sometimes associated with low capitalization.