Meeting No. 65

MINUTES OF PROCEEDINGS

Tuesday, March 31, 1998

The Standing Committee on Finance met at 9:04 o’clock a.m., this day, in Room 308, West Block, the Chair, Maurizio Bevilacqua, presiding.

Members of the Committee present: Maurizio Bevilacqua, Scott Brison, David Iftody, Gary Pillitteri, Karen Redman, Gerry Ritz, Paddy Torsney and Tony Valeri.

Acting Members present: Werner Schmidt for Dick Harris.

Other Members present: Bill Casey; John McKay.

In attendance: From the Research Branch of the Library of Parliament: Richard Domingue and Marion G. Wrobel, Research Officers.

Witnesses: Office of the Superintendent of Financial Institutions: John Thompson, Deputy Superintendent, Policy Sector; André Girard, Manager, External Communications and Media Relations. From the Canadian Bankers Association: Alan Young, Vice-president, Policy Division, Canadian Bankers Association; Anne Lamont, Vice-President, External and Government Affairs, Royal Bank of Canada; Kelly Shaughnessy, Senior Vice-President, Small Business Banking, CIBC; Brian Haier, Senior Vice-President, Retail Branch Banking, Toronto Dominion Bank.

In accordance with its mandate under Standing Order 108(2) the committee resumed its study of the Tied Selling provisions in the Bank Act. (See Minutes of Proceeding, dated March 30, 1998, Meeting No 63).

John Thompson made a statement and, with André Girard, answered questions.

At 10:03 o’clock a.m. the sitting was suspended.

At 10:10 o’clock a.m. the sitting resumed.

Alan Young made a statement and, with Anne Lamont; Brian Haier and Kelly Shaughnessy, answered questions.

It was agreed – That the letter received from R.B. Schultz of Midland Walwyn be read into the record of today’s meeting.

At 11:29 o’clock a.m., the Committee adjourned to the call of the Chair.

CAROL CHAFE

Clerk of the Committee