The Bank of Canada is well-placed to bring a macro perspective to the oversight of the financial system, since our responsibilities for the conduct of monetary policy require a deep knowledge of the economy and the financial system. We intend to leverage our position in key domestic and international organizations to bring that perspective.
1 In terms of surveillance, we are placing increased emphasis on identifying risks and vulnerabilities to the Canadian financial system and on developing a better early warning system. The Bank's Financial System Review was recently revamped with that objective in mind.