That's correct, Mr. Chair. In fact, you could say that the FCC is the only bank in Canada that does not undergo a regular mandate review. The BDC and EDC must undergo reviews every 10 years; commercial banks undergo reviews every five years. There's no requirement that this take place in the case of FCC. We think it should join others in having its mandate reviewed on a regular basis.
On November 19th, 2013. See this statement in context.