Issues and Activities

Economics & Finance

Consumers Assess Mergers Among Big Banks

A presentation to the Minister of Finance

December 31, 2003

The bulk of economic evidence does not support a case for mergers among big Canadian banks. Much of this evidence can be assessed by the Competition Bureau while prudential matters are appraised by the Office of the Superintendent of Financial Institutions. However, additional appraisal of proposed bank mergers by the House of Commons is necessary for at least three reasons. These issues are: downstream impacts on costs in the economy, the concentration of power, and effects on the quality of financial services.

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