This organization already exists – it is the International Monetary Fund. BIS Review 10/2007  3  Strengthening the International Monetary Fund In recent years, there have been some who have called into question the relevance of the IMF. But at the Bank of Canada, we believe that the IMF still has an important role to play.
Second, the new CRA rule should address the significant changes in the banking sector since the regulations were last substantially revised more than a quarter century ago. This involves evaluation of online and mobile banking, branchless banking, and hybrid models.