The Canadian authorities will need to decide how to implement the reforms that are agreed at the global level.
Some measures that could be considered include: •  Establishing consistent standards for how haircuts are set on repo transactions, including numerical minimum haircuts for some types of transactions;  •  Requiring that originating securitized products have enough skin in the game to align their incentives better with those of investors;  Canada were 28 percent of GDP in 2011.