Banks and Financial Institutions

Canadian Bank Regulation — A Case of Efficient Capture

From: Corporate Rules

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In this chapter, Marc- André Pigeon and David Pringle examine how the defining features of Canada’s banking sector are its enduring stability and profitability, as well as examine the way its trajectory is tightly bound with the historical and institutional fabric of not just the federal state but also the country. Even a cursory glance reveals a preponderance of (large) bank shares among the top holdings of public and private sector pension plans and Canadian equity and balanced mutual funds. For policymakers, regulators, and the banks they oversee, the potential disruption arising from open banking– and in particular the unpredictable flow of money under “write access”– pose a risk to the privileged place of the banks in the Canadian economy.

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