Traduction de «banque à charte » (Français → Anglais) :

Question No. 226 Hon. Roy Cullen: With regard to collateralized debt obligations (CDO’s) and the sub-prime mortgage credit crisis in the North American financial sector: (a) in 2007, was the Office of the Superintendent of Financial Institutions (OSFI) aware of the exposure of financial institutions in Canada to CDO’s, and specifically sub-prime mortgages; (b) when it became aware of the exposure of Canadian banks to sub-prime mortgages, how did OSFI evaluate the risk of these CDO’s in the context of the solvency, liquidity and stability of Canada’s financial institutions; (c) did OSFI undertake any sensitivity analysis to assess the i ...[+++]mpact of factors such as interest rate changes, economic slowdown or job losses and property market declines on the viability of sub-prime mortgages; (d) were CDO’s adequately secured or insured by Canada’s chartered banks, and were these CDO instruments appropriately rated by the rating agencies; (e) given the recent losses or write downs by chartered Canadian banks, what action is the OSFI taking to safeguard Canada’s financial sector, its depositors and shareholders; and (f) what steps is the Minister of Finance taking to address this issue, and to ensure that this type of situation does not occur again?

If the charter banks are not willing to live up to their end of the bargain, we should tear up their charter, throw the industry wide open to foreign banks and see how they like it then.

15. Considers it very worrying that this situation, in breach of the Convention for the Protection of Human Rights and Fundamental Freedoms and the Charter of Fundamental Rights of the European Union, as well as of the Treaties and secondary legislation (Data Protection Directive and Regulation (EC) No 45/2001 of the European Parliament and of the Council of 18 December 2000 on the protection of individuals with regard to the processing of personal data by the Community institutions and bodies and on the free movement of such data ), has not been strongly criticised at an earlier stage either by the ECB or by the Group of 1 ...[+++]0 Central Banks that oversee SWIFT's activities, and that it is only recently that European banks and their customers have been made aware of the situation through press reports;

In the case of EIB projects outside the EU, there is no shortage of guidelines and codes of conduct for international financial institutions. In addition to Parliament's reports on cooperation policy, the EIB can turn to the vast literature in the field, or indeed ratify existing codes such as the Ecuador principles for investment banks operating in developing countries, the UNEP guidelines and the proposed recommendations to be followed by the World Bank in relation to the extractive industries and dams (a particularly sensitive point for a bank which pu ...[+++]blicises its commitment to renewable energy: hydraulic energy projects can spell ecological disaster!)

In addition, why will the government not look at the way and the role of the Bank of Canada, which has become I might add not the bank for Canadians but the bank for chartered banks, and how the government by looking at that could return the controls of its monetary policy to the people of Canada and not simply to the chartered banks.

Senator De Bané: Your approach reminds me of the attitude of the big banks, when the government of Canada decided to create the Federal Business Bank to help small businesses; those huge chartered banks came here and managed to put into the law that this new, small bank to help small businesses cannot entertain any loan application unless the small business has already been rejected twice twice by two different chartered banks.