Canadian Bankers Association

Canadian Bankers Association

September 13, 2010 15:18 ET

Canada Ideal Location for Global Risk Institute: Canadian Bankers Association

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2010) - The Canadian Bankers Association (CBA) today applauded the creation of the Global Risk Institute in Financial Services (GRi), a partnership of the Government of Canada, the Government of Ontario, the financial services industry and a number of universities.

"Canada's banking system has become a model of sound risk management for the rest of the world, and I think it is only fitting that the Global Risk Institute be located here. We have a lot of knowledge and best practices to share with the world," said Nancy Hughes Anthony, President and CEO of the Canadian Bankers Association. "Throughout the recent global financial crisis, Canada's banking and financial sectors performed well and avoided many of the risk-related issues that caused financial institutions in other parts of the world to falter."

Last week the World Economic Forum ranked Canada's banking system as the world's soundest for the third year in a row, recognition that Canada's banks are well-managed, well-capitalized and well-regulated. Many of Canada's banks will provide their expertise as well as financial backing in support of the Global Risk Institute.

"The Global Risk Institute is a great example of how governments and the private sector can work together to promote Canada as a financial services leader," said Ms. Hughes Anthony. "We have seen this cooperation really highlighted in recent years, and that cooperation continues as the banks, governments and regulators work through new international regulations designed to avoid future financial crises."

The Canadian Bankers Association works on behalf of 51 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 260,000 employees. The CBA advocates for effective public policies that contribute to a sound, successful banking system that benefits Canadians and Canada's economy. The Association also promotes financial literacy to help Canadians make informed financial decisions. www.cba.ca.

Contact Information

  • Canadian Bankers Association
    Andrew Addison
    (416) 362-6093, ext. 220 or Cell: (416) 587-7733
    aaddison@cba.ca