Keeping the genie in the bottle : grading the regulation of Canadian financial institutions (eBook, 2014) [WorldCat.org]
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Keeping the genie in the bottle : grading the regulation of Canadian financial institutions

Author: J F Chant; University of Calgary. School of Public Policy,
Publisher: Calgary, Alberta : School of Public Policy, University of Calgary, Beaconsfield, Quebec : Canadian Electronic Library, [2014] 2014.
Series: SPP research papers, v. 7, issue 8.
Edition/Format:   eBook : Document : English
Summary:
The Canadian financial sector made it through the recent global credit crisis in better shape than most. Still the government undertook extraordinary measures to support the soundness of Canadian financial institutions. Fortunately, Canadians learned the lessons of the world banking crisis at lower cost than others. They may not be so lucky the next time. Canada's approach to regulation includes many features that  Read more...
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Details

Genre/Form: Electronic books
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: J F Chant; University of Calgary. School of Public Policy,
OCLC Number: 879669107
Notes: "March 2014."
Description: 1 online resource (34 pages).
Series Title: SPP research papers, v. 7, issue 8.
Responsibility: John F. Chant.
More information:

Abstract:

The Canadian financial sector made it through the recent global credit crisis in better shape than most. Still the government undertook extraordinary measures to support the soundness of Canadian financial institutions. Fortunately, Canadians learned the lessons of the world banking crisis at lower cost than others. They may not be so lucky the next time. Canada's approach to regulation includes many features that have been effective in insulating its financial sector from major shocks. Its principles-based approach has proven more adaptable to emerging financial innovations than the rules-based approaches as adopted in the U.S. By favouring permission over prohibition, it has allowed beneficial financial innovations to thrive, while leaving regulators able to step in when innovations appear harmful to the stability of the system. On the whole, Canada's regulatory approach is, put simply, simpler and reduces the costs of compliance and enforcement. Significantly, it has remained immune from the toxic political influences that overshadow U.S. regulation.

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