G. Conclusion

• Author: M.H. Ogilvie
• Profession: LSM, B.A., LL.B., M.A., D.Phil., D.D., F.R.S.C. Of the Bars of Ontario and Nova Scotia Chancellor's Professor and Professor of Law, Carleton University
• Pages: 174-174

Page 174

As this chapter has shown, the banks continue to be closely regulated pursuant to the Bank Act in relation to the types of businesses and activities in which they may engage and the extent to which they may do so. The Bank Act defines banking business both positively and negatively and grants considerable discretion to the Governor in Council and the Office of the Superintendent of Financial Institutions (OSFI) to regulate through regulations and supervision. Banking has always been inherently a dynamic enterprise driven by the needs of the economy, the business community, and the ingenuity of...