Euromoney is delighted with the successful launch of the Canada Forum 2010: Financing Success, which brought together over 350 senior level officers from issuers across the credit curve with domestic and foreign institutional investors.
The conference came at an ideal time as international players sharply upped the tempo of manoeuvring on the coming wave of international bank regulation. South of the 49th parallel, President Obama made clear to Wall Street his determination to push through a banking reform bill likely to prove every bit as controversial as his health care reform. The day of the conference the IMF’s proposals for a double bank tax hit the international press. Finance Minister James Flaherty opened the Forum, coming out strongly against the IMF proposals. He also assured the audience that a national securities regulator is within sight, with a bill for parliament being ready in 30 days.
Please click to download Finance Minister James Flaherty's speech.
The conference went on to address the key issues facing Canada’s capital markets. Speakers were overwhelmingly positive about the outlook for Canada’s markets and economy, though the strength of the loonie, concerns over the international regulatory environment and an early rate rise from the Bank of Canada were clouds on the horizon.
Raghuram Rajan opened the second day’s proceedings with a truly global perspective, and took part in the subsequent debate on the G20 agenda for a new financial architecture. Another highlight of the event was the panel of the biggest public sector borrowers in Canada, who demonstrated the increasing appetite of international investors for ‘Canada Inc.’
Euromoney would like to thank the audience for attending, and a special thanks to all our speakers and sponsors for making the event possible. We look forward to re-convening in Toronto next April to re-assess the health of the Canadian capital markets.