FINA Committee Meeting

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Minutes of Proceedings

Standing Committee on Finance (FINA)

42nd Parliament, 1st Session

Meeting No. 67

Monday, January 30, 2017, 3:34 p.m. to 7:30 p.m.

Room 253-D, Centre Block

Televised

Presiding

Hon. Wayne Easter, Chair (Liberal)

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Members of the Committee present

Liberal

Conservative

NDP

Guy Caron

Acting Members present

• Ziad Aboultaif for Gérard Deltell (Conservative)

• Dean Allison for Gérard Deltell (Conservative)

• Hon. Larry Bagnell for Steven MacKinnon (Liberal)

• Greg Fergus for Steven MacKinnon (Liberal)

• Phil McColeman for Gérard Deltell (Conservative)

• Ramesh Sangha for Steven MacKinnon (Liberal)

• Nick Whalen for Robert-Falcon Ouellette (Liberal)

Associate Members present

• Ziad Aboultaif (Conservative)

Other Members present

• Kamal Khera (Liberal)

• Hon. Ginette Petitpas Taylor (Liberal)

In attendance

Library of Parliament

• Dylan Gowans, Analyst

• Florian Richard, Analyst

Canadian Real Estate Market and Home Ownership

Witnesses

Office of the Superintendent of Financial Institutions

• Judy Cameron, Senior Director, Legislation, Approvals & Strategic Policy

• Carolyn Rogers, Assistant Superintendent, Regulation Sector

Canadian Bankers Association

• Alex Ciappara, Director, Credit Market and Economic Policy

Bank of Canada

• Don Coletti, Advisor to the Governor

• Sylvain Leduc, Deputy Governor

Royal Bank of Canada

• Robert Hogue, Senior Economist

Canada Mortgage and Housing Corporation

• Michel Laurence, Vice-President, Housing Markets and Indicators

• Michel Tremblay, Senior Vice President, Policy, Research and Public Affairs

Genworth Canada

• Stuart Levings, President and Chief Executive Officer

• Winsor Macdonell, Second Vice-President and General Counsel

Canadian Credit Union Association

• Robert Martin, Senior Policy Advisor

• Christopher White, Vice-President, Government Relations

Canadian Housing and Renewal Association

• Jeff Morrison, Executive Director

Pursuant to Standing Order 108(2) and the motion adopted by the Committee on Tuesday, June 14, 2016, the Committee commenced its study of the Canadian Real Estate Market and Home Ownership.

Sylvain Leduc, Michel Tremblay and Carolyn Rogers made statements and, with Michel Laurence and Don Coletti, answered questions.

It was agreed, — That the Committee hold an additional meeting with witnesses on Wednesday, February 8, 2017, on the study of the Canadian Real Estate Market and Home Ownership.

At 5:31 p.m., the sitting was suspended.

At 5:40 p.m., the sitting resumed.

Alex Ciappara, Jeff Morrison, Christopher White and Stuart Levings made statements and, with Robert Martin, Robert Hogue and Winsor Macdonell, answered questions.

The Committee held a moment of silence in support of the vigil taking place on Parliament Hill in solidarity with the Muslim communities of Quebec and Canada.

At 6:12 p.m., Ron Liepert took the Chair.

At 6:32 p.m., Hon. Wayne Easter took the Chair.

At 7:30 p.m., the Committee adjourned to the call of the Chair.

Suzie Cadieux

Clerk of the Committee