The government of Canada recently tabled the federal budget, Economic Action Plan 2015, in the House of Commons. In the budget the government promises a number of measures that will be relevant to banks and other federally regulated financial institutions. These include a consumer protection framework for banks and an expansion of the voluntary mortgage pre-payment disclosure commitment.
The Canadian government recently published for comment a consultation paper on a proposed bail-in regime applicable to Canada's domestic systemically important banks (D-SIBs). The regime, formally referred to as the Taxpayer Protection and Bank Recapitalisation Regime, would grant the government the power to permanently convert 'eligible liabilities' of a D-SIB into common shares.