Mr. Speaker, in 2001, the Government of Canada established a widely-held requirement for large banks. In 2007, our Conservative government increased the threshold from $5 billion to $8 billion to reflect the growth of large banks. Since then, the sector has continued to grow. To reflect that growth, the large bank threshold is being increased from $8 billion to $12 billion.
In the House of Commons on March 27th, 2012. See this statement in context.