February 19, 1959 (24th Parliament, 2nd Session)

PC

Donald Methuen Fleming (Minister of Finance and Receiver General)

Progressive Conservative

Hon. Donald M. Fleming (Minister of Finance):

Mr. Speaker, I presume the hon. gentleman has reference to an article which
appears in this week's issue of the Financial Post. The hon. gentleman nods assent. I may say that I saw this article a few minutes ago. There are several errors in it. The government is not asking for any of these returns. The inspector general of banks, pursuant to his duties under the Bank Act, requires certain returns to be made and returns have been made, including names of borrowers, for more than the last 15 years. There is nothing new about this. There are certain modifications which are under consideration at the present time, as I am informed by the inspector general of banks, but the practice which is referred to in this article as something new is something that has persisted, Mr. Speaker, for more than the last 15 years.

Topic:   FINANCE
Subtopic:   REPORTED GOVERNMENT REQUEST FOR NAMES OF BORROWERS FROM CHARTERED BANKS
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