Canada-China Relations committee  Thank you for the question. We're not aware of the AIIB being open to doing projects with the junta in Myanmar. We would have certainly, if it were the case, or if any such project is brought to the board, we would certainly—

Finance committee  Yes, it is. It oversees the core payment system, which Erin was referring to earlier, under the Payment Clearing and Settlement Act.

Finance committee  As Ms. O'Brien said, these measures aren't included in the act. That said, the act includes requirements to reduce operational risks, which should lower the risks associated with these types of transactions, as Ms. O'Brien also noted.

Finance committee  Clause 136 replaces subsection 14(1) of the Payment Clearing and Settlement Act to ensure the information-gathering powers of the bank in respect of the clearing and settlement system also apply to payment exchange. This is in relation to the modification of the definition in cla

Finance committee  Clause 137 replaces subsection 18(3) of the PCSA, which is about the ability of the governor of the bank to share information on designated systems. This is to make sure that these powers also extend to payment exchanges, and again is in relation to the change in the definition.

Finance committee  Actually, this is probably more a question for Michaël or Jean-François.

Finance committee  Thank you, Chair. Clause 133 replaces the definition of “clearing and settlement system” and “clearing house” in section 2 of the Payment Clearing and Settlement Act to clarify that the act also applies to systems for the exchange of payments. This is to reflect the fact that as

Finance committee  Thank you, Chair. Under the Payment Clearing and Settlement Act, the Bank of Canada has responsibility for overseeing clearing and settlement systems. These are the core payment infrastructure that banks, for example, use to settle payments among themselves. Under the act, the G

Finance committee  That's right.

Finance committee  Chair, it's Julie Trepanier. I'm the director of payments policy. I'm joined by Jean-François Girard, senior director. I believe he had some difficulties connecting, so I don't know if he's on.

Finance committee  Maybe that's a good idea. Thank you, Chair.

Finance committee  Thank you for the question. A term is added for members of the board of directors because payment systems are complex subjects and it takes a long time to develop the necessary expertise. An additional term ensures that the expertise acquired by the members of the board of direc

Finance committee  Exactly.

Finance committee  Thank you, Chair. I'm Julie Trepanier. I'm the director of payments policy at the Department of Finance. I'm joined by William Gibson, who is an economist and on the payments team as well. The Canadian Payments Act prescribes Payments Canada's mandate, membership and governanc

Finance committee  Thank you for the question. The proposed changes will make it possible to remunerate the representatives of consumer organizations.