In fact, the Bank of Canada has joined a multilateral arrangement for the co-operative oversight of LCH.Clearnet’s SwapClear, a global central counterparty based in London, England, and the dominant counterparty for clearing Canadian interest rate swaps.19 As I noted, the Bank is working closely with other agencies at the federal and provincial levels to implement the new global standards within a framework that is best suited for Canada.
14  Since the end of 2007, the major Canadian banks have increased their common equity capital by 70 per cent, or $ billion. 15  The capital levels of Canada’s major banks are now at roughly 9 per cent or higher. Canadian banks are also moving ahead to implement the recommendations of the FSB-sponsored, private-sector-led Enhanced Disclosure Task Force.