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CANADA. NATIONAL PRESS THEATRE

1985-0367

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1985-08-28

National Press Theatre

Press conference held by the Ministry of Finance, represented by the Honourable Barbara McDougall, Minister of State for Finance; the Bank of Canada, represented by Gerald Bouey, Governor; and Bill Kennett, Inspector of Banks, to explain the Bank of Canada's decision to withdraw support from the Canadian Commercial Bank and the Northland Bank. In an opening statement by Ms. McDougall, and subsequent question period, the following items are discussed: the status of the banks in question; a brief history of the Canadian Commercial Bank's demise; a review of Gov. Bouey's personal responsibility and role in extension of help to CCB; a review of Bank of Canada's supervisory function; and possible future approaches by the federal government with respect to failing banks,and, an expression of confidence in Canada's banking institutions by Ms. McDougall.

BANKS~CANADA~BANK OF CANADA~CANADIAN COMMERCIAL BANK~NORTHLAND BANK~BOUEY, GERALD~KENNETT, WILLIAM~MCDOUGALL, BARBARA

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