In other words, the current Basel I capital requirements have over the past decade begun to deviate substantially from the risk profiles of large, complex organizations. We need a better capital framework for these large, internationally active banks, and we believe that Basel II is such a framework.
David Dodge: Bank of Canada’s views on the Canadain economy and its monetary policy objective Opening statement by Mr David Dodge, Governor of the Bank of Canada, to the House of Commons Standing Committee on Finance, Ottawa, 1 May 2007. *  *  *  Good morning, Mr. Chairman and members of the Committee.