Mrs. Nancy Hughes Anthony at the Finance Committee

On May 28th, 2009. See this statement in context.

May 28th, 2009 / 4 p.m.

President and Chief Executive Officer, Canadian Bankers Association

I apologize if I was not clear, Mr. Laforest.

I meant that it is 1% of the actual cost of funding for a bank. So they get 99% of their funding elsewhere and it costs much more than the Bank of Canada rate. That is my point.

See context to find out what was said next.