TORONTO, ONTARIO--(Marketwired - March 18, 2014) - The Canadian Bankers Association today commended Jim Flaherty on his tenure as finance minister of Canada. CBA president Terry Campbell made the following comments about Minister Flaherty's accomplishments and legacy:

"Finance Minister Flaherty played a very instrumental role in guiding Canada through the global financial crisis and beyond. As a result of his actions, Canada's economy remained strong.

He has continued to champion our sound, strong banks, which was important in maintaining public confidence at a time when banks around the world were either getting bailed out or failed.

I also applaud him for his vision and determination to put in place a cooperative common securities regulator. Canada is the only industrialized country without a national securities regulator and we continue to believe that Canada needs a single national voice on the international stage. Few others would have shown such tenacity as Minister Flaherty has over time on this issue.

The banking industry appreciated the open and candid dialogue that we always had with the Minister and we wish him well as he moves into the private sector."

About the Canadian Bankers Association

The Canadian Bankers Association works on behalf of 59 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 275,000 employees. The CBA advocates for effective public policies that contribute to a sound, successful banking system that benefits Canadians and Canada's economy. The Association also promotes financial literacy to help Canadians make informed financial decisions and works with banks and law enforcement to help protect customers against financial crime and promote fraud awareness.

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Contact Information:

Maura Drew-Lytle
Canadian Bankers Association
(416) 362-6093, ext. 338
Cell: (416) 918-2777