Finance committee  That code of conduct would be put into place by the FCAC, financial consumer affairs.

Finance committee  We talk to them all the time and sit on FISC.

Finance committee  I wasn't aware of what was in the budget, just to be clear.

Finance committee  We talk about those issues every day with the FCAC.

Finance committee  My job is to ensure that Canadian banks manage their risk. I'm going to try to give you a straight answer. My job is credit risk, liquidity risk, climate risk and all that.

Finance committee  When you're thinking about amortizations and you're talking about lengthening amortizations, that is a feature of a particular product that goes by the name of “variable rate mortgage with fixed payments”. As those variable rates—

Finance committee  In the course of just normal credit analysis, the more alternative views you take into risk, the more insights you reveal. For example, I know of a retailer who entered the banking business. They found out that certain trends in spending were very good predictors of the creditwor

Finance committee  To my knowledge there have been no international studies on that question of how far spreads would widen in response to a Canadian financial institution maybe not being up to snuff on climate risk management. The banks that we regulate have roughly $7 trillion in assets that they

Finance committee  The analysis proposed, just to be clear and straight, would be a second-order analysis. In other words, the first wave of analysis will be understanding the extent of a financial institution's exposure to assets or investments that have an emissions component to them, and then tr

Finance committee  In our climate scenario analysis, which we did last year with the Bank of Canada, we looked at that. What happens is the longer you delay adapting to climate change, the greater the risk of financial instability. If we stopped all of this today, would the system buckle? No. Fun

Finance committee  We see managing climate risk as core to our purpose and the mandate assigned to us by Parliament.

Finance committee  That's a great question. The institutions we regulate have an eye toward how Canadian institutions are perceived by Canadians, certainly, and by investors globally. They accepted the premise that we needed to have a regulatory regime around climate change. This consultation we

Finance committee  Stephane.

Finance committee  There are two parts to that. Our purpose is to contribute to public confidence in the Canadian financial system. That's a broad financial stability instruction. How do we do that? We do that by supervising financial institutions. When we identify risks through that supervision,

Finance committee  Generally speaking, financial systems that don't have strong prudential regulations tend to be more volatile, and that volatility comes at a cost to the economy. More unstable banks that tend to fail more will mean that your economy will be weaker. We've built up this system of r