Let me just develop some concrete examples. First, the current institutional framework has not yet reached a sufficient degree of harmonization in the underlying rules and standards. Since the aim is to create a single European banking system, it is essential that credit institutions face a single set of rules and conditions regardless of the location of their activities.
Tiff Macklem: Opening statement before the House of Commons Standing Committee on Finance Opening statement by Mr Tiff Macklem, Governor of the Bank of Canada, before the House of Commons Standing Committee on Finance, Ottawa, Ontario, 18 April 2023. *** Good morning.