Co-operation needed to avoid reduction in cross-border activity, says Canadian deputy


A Bank of Canada deputy governor, Timothy Lane, yesterday warned national regulators to avoid discouraging banks from cross-border activity with their financial stability reforms.

Lane explained to an audience at Harvard University that there can be conflicts, inconsistencies and overlaps between national reform agendas, which he said can impact financial institutions' cross-border operations.

In the European Union, Lane said, some banks have withdrawn from international activity in response to

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