Trudeau taps bank CEOs to help chart course for economic recovery plan GlobePolitics
Prime Minister Justin Trudeau, seen here on May 22, 2020, had one-on-one discussions with the heads of Canada’s six big banks for the first time since the start of the novel coronavirus pandemic.Prime Minister Justin Trudeau has reached out to the heads of Canada’s six big banks to get their reading on the state of the economy and how COVID-19 relief efforts are faring, banking sources and federal officials told The Globe and Mail.
The consultations with the CEOs were high-level check-ins rather than deep policy discussions, intended to take the pulse of the efforts to deal with the economic effects of COVID-19, the sources said. They covered topics such as how relief efforts rolled out jointly by government and banks might need adjusting, where bank clients are feeling pressure most acutely, and which parts of the economy may need further support to recover.
The Globe is not identifying the banking and federal sources who spoke about the recent discussions with the bank CEOs because they were not authorized to comment publicly on the matter. Spokespeople for Canada’s six largest banks and for the Canadian Bankers Association declined to comment. The Prime Minister and his top ministers have been engaged in a series of talks with corporate figures, union leaders and academics to determine the country’s economic needs now that provincial governments are allowing businesses to resume operations, albeit at varying speed across the country.
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