Bank watchdog rejects interfering

Globe and Mail

Canada's banking regulator is washing his hands of the idea of forcing banks to assume more of the risks from their mortgage businesses.  Jeremy Rudin, who took the helm of the Office of the Superintendent of Financial Institutions this summer, says it would be up to the Finance Minister to make any such changes.  "This is an initiative that really belongs to the government as a whole," he said when asked on Tuesday what he thought of the idea.  Mr. Rudin was speaking to reporters in Toronto after delivering a speech to the Economic Club of Canada in which he laid out his thoughts on the challenges of supervising financial institutions.

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Michael James

Michael James

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