From the beginning, the financial services industry has been very interested in not looking just at the Canada market but at the Americas market. Canada is the first renminbi hub in the western hemisphere time zone. Canadian financial institutions have large operations in the United States and Central Latin America and so are very much interested in how they can serve their clients throughout the Americas and not limit the development here just with Canadian customers. It has been very much an interest to be a hub for the Americas. Of concern in our relationships and arrangements with the Chinese is that it not be limited to just customers here in Canada but to have the ability to provide financial services throughout the Americas. That clearly will mean more business, more volume, and more partnership between Canadian firms—not just the financial institutions—and their other relationships throughout the Americas.
On February 24th, 2015. See this statement in context.