Finance committee  My understanding is that the public sector's engagement is really dependent on the private sector identifying some merit to the initiative.

Finance committee  I think the private and public sectors are coming together on this initiative because it does take a fair amount of work in the political dimension with China and Canada to get this over the line. I think it's an example of getting it done in the timeframes that we're dealt. I

Finance committee  I have been involved via the TFSA, the Toronto Financial Services Alliance, and participated in that forum. So you have advocacy groups and industry groups that were quite involved in getting the members themselves to dig in and make sure that they could help identify the communi

Finance committee  Certainly the RMB hub and the RQFII is a positive in that it's both a facilitation, which will help enable those transactions to occur and an accelerant, as was mentioned in terms of branding Canada with China or the symbolism with China. So it's very positive in that regard.

Finance committee  It's early days, but some of the products on the investment side would involve accessing the renminbi qualified foreign investment pool where clients on the fund side or the insurance side, or even on the banking side, may look to find diversifying assets into Chinese equities, e

Finance committee  I'd be pleased to answer that. The access to bond markets, in virtually every currency, is often a function of what price the issuer can get. RBC Capital Markets, for example, issues bonds in a variety of currencies. We may have European issues in Australian dollars or foreign

Finance committee  In the short term, I don't think there will be. I can't speak for the other banks. I don't think there will be a significant employment pickup from the financial sector. We actively trade in 30 currencies now, including the renminbi and the CNY, or the offshore version of the ren

Finance committee  I think it would be very situation specific. I don't have broad views on the subject.

Finance committee  Certainly we are in the early stages, as I mentioned in my remarks, so the potential of this over time will continue to grow as we better understand the advantages that will come from it in trade and investment facilitation. Again, because this is largely a book entry oriented

Finance committee  To the comment that was raised by Colin earlier that this is a facilitation, there is a lot of book entry going on with electronic transactions so that the actual physical location is less important, not unlike now where you can walk into virtually any branch in the country and t

Finance committee  Thank you, Mr. Chair, and members of the committee. I appreciate the opportunity to appear before you this morning and I look forward to responding to your questions. My name is Bryan Osmar. I am the managing director of market infrastructure for RBC Capital Markets in Toronto.