Despite the fact that problems of that magnitude have not emerged in Canada, confidence in Canadian markets, and markets worldwide, has been affected by events in the United States. That is why we are watching closely the current efforts to restore confidence and trust in corporate reporting and in financial markets more generally.
Canada’s foreign exchange reserves belong to the Government of Canada, while in a number of other countries they are an asset of the central bank. They are managed within the terms of an established governance framework by the Department of Finance and the Bank of Canada. Together, we develop strategies and policies for the management of the reserves.