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, 23 November 2022. *** Good evening.
Already, various proposals have been made for the reform of financial supervision and regulation. The traditional approach in this area is based on a microprudential perspective. From that perspective, financial system stability will be achieved by assembling sound financial institutions with adequate capital and liquidity positions as well as proper risk management.