Entry barriers and evolution of banking systems: Lessons from the 1980s Canadian western bank failures

Abstract: As federal policy‐makers revise and update the Bank Act, any change should be seen in the context of public policy towards financial institutions in Canada. Rather than being condemned to repeat history, both policy‐makers and potential bank entrepreneurs would be well advised to re‐examine the Report of the Inquiry into the Collapse of the ccb and Northland Bank (August 1986), chaired by the Honourable Willard Z. Estey. Public policy for financial institutions faces the challenge of reconciling competing interests. Since 1867, Canada has experienced a nationally controlled banking system that is highly stable (i.e., few bankruptcies) and that has enabled in‐flows of capital needed for national economic development. The Canadian Commercial Bank failure raised a fundamental challenge to the government's policy agenda. When asked what the government's position should be, the three officials recommended the rescue package. All three participants from the political side advised against it. Future policy must learn the lessons from this important and atypical moment in Canadian financial history. Sommaire: Alors que les decisionnaires federaux revoient et mettent à jour la Loi sur les banques, toute modification devrait être envisagée dans le contexte de la politique gouvernementale visant les institutions financières au Canada. Plutôt que d'être condamnés à répéter les mêmes erreurs, les décisionnaires et les banquiers potentiels feraient bien mieux de réexaminer le Rapport de la commission d'enquête sur la faillite de la Banque commerciale du Canada et la Norbanque (août 1986), présidée par l'honorable Willard Z. Estey. La politique gouvernementale concernant les institutions financières a la tâche difficile de réconcilier des intérêts opposés. Depuis 1867, le Canada connaît un système bancaire contrôléà l'échelle nationale qui est très stable, ayant enregistré peu de faillites, et qui a permis des rentrées de fonds nécessaires au développement économique national. La faillite de la BCC a lancé un défi fonda mental au programme de politique gouvernementale. Lorsqu'on leur a demandé quelle devrait être la position du gouvernement, les trois responsables ont recommandé le programme de renflouement. Les trois participants du secteur politique ont conseillé le contraire. Les futurs décisionnaires doivent tirer des leçons de cet évènement important et exceptionnel dans l'histoire financière canadienne.     

The Compensation Culture: Cliché or Cause for Concern?

The ‘compensation culture’ has featured frequently in the popular press over the last decade. There have, however, been comparatively few academic studies and such studies as there have been have largely focused on personal injury claims. A compensation culture, if it exists, could extend much wider than that. This article compares the exponential increase in the use of the term ‘compensation culture’ in the national printed media since 1995 with available statistics relating to the Queen's Bench, County Courts, and employment tribunals. Far from spiralling upwards, these statistics show a broad decline across a range of claims with the exception of claims before the employment tribunals, where the government has created a slew of new heads of claim. In order to counter the misconceptions founded by the popular media, and to allow for greater scrutiny, more attention should be paid to the collection and dissemination of judicial and claims statistics.     

Spatial variation of refractive index in a pane of float glass.

In the statistical interpretation of forensic glass evidence it is standard practice to make the assumption of homogeneity of the refractive index (RI) of the source glass, or of localized homogeneity. However, the work of Locke and Hayes showed that, for toughened windscreen glass, this assumption might not be true. This work is well cited, but there appears to have been little follow-on published research. Furthermore, the toughening process is something known to affect the refractive index, and is a process that float glass does not undergo. Float glass is a major component of casework in New Zealand and for that reason it would be interesting to know whether the findings of Locke and Hayes apply when dealing with float glass. In this paper we describe an experiment similar to that of Locke and Hayes, systematically examining the variation of RI in a pane of float window glass. It was found that, although there were no systematic differences in refractive index, there were observable differences across the pane.     

System Change through Collaboration…Eight Steps for Getting from There to Here

Family courts and child welfare agencies across the country are charged with protecting the safety of our children. That mission has become more challenging with increasing federal legislation and decreasing funding. In Buffalo, N.Y., the Family Court and the Department of Social Services have teamed up to respond to this challenge. With minimal additional staffing and resources, they have led a collaboration of agencies and service providers to change the way business is done in child welfare. By engaging each other in an interagency system change effort, the amount of time children spend in foster care has been reduced. The collaboration has been able to accomplish in a relatively short time what no agency had previously been able to accomplish on its own. The beneficiaries have been the children and families of Erie County.     

Driving less for better air: Impacts of a public information campaign

In the wake of the 1990 amendments to the Clean Air Act, localities across the United States initiated public information campaigns both to raise awareness of threats to air quality and to change behavior related to air pollution by recommending specific behavioral changes in the campaign messages. These campaigns are designed to reduce the health hazards associated with poor air quality and to avoid federal sanctions resulting from the failure to meet air quality standards. As in many other communities across the country, a coalition of government agencies and businesses initiated a public information campaign in the Atlanta metropolitan region to reduce certain targeted behaviors, mainly driving. A two‐stage model used to analyze data from a rolling sample survey shows that the centerpiece of the information campaign—air quality alerts—was effective in raising awareness and reducing driving in a segment of the population. When the overall information campaign was moderated by employers' participation in programs to improve air quality, drivers significantly reduced the number of miles they drove and the number of trips they took by car on days when air quality alerts were sounded. Public information campaigns can be successful in increasing awareness, but changing well‐established behaviors, such as driving, is likely to require institutional mediation to provide social contexts that support the behavioral change, as well. © 2003 by the Association for Public Policy Analysis and Management.     

Rapid death from thrombotic thrombocytopaenic purpura following caesarean section.

We report a case of rapid death from thrombotic thrombocytopaenic purpura (TTP) in a young pregnant lady who developed full blown symptoms soon after caesarean section. Extensive intramyocardial confluent haemorrhages and widespread microthrombi in heart, brain, adrenals and kidney were found at autopsy. Thrombotic thrombocytopaenic purpura is an uncommon condition, which carries a high fatality rate if untreated. Awareness of this syndrome together with its high risk of sudden death underlines the importance of rapid diagnosis and treatment.     

Determination of cocaine and benzoylecgonine in human amniotic fluid using high flow solid-phase extraction columns and HPLC.

A new solid-phase extraction procedure for the determination of cocaine and benzoylecgonine in amniotic fluid, using high flow co-polymeric sorbents is reported. The recoveries of cocaine and benzoylecgonine within the range 0.1-1 mg/l were 95.7% and 50.3%, respectively. The use of high-flow sorbents allowed the easy extraction of amniotic fluid regardless of sample viscosity or physical nature. The use of these solid-phase columns provided many advantages over the more commonly used solvent extraction, including an increase in extraction speed and efficiency, reduced operator time, reduced solvent use and disposal volumes and exceptional extract quality. Further, the determination of amniotic fluid obtained from pregnant cocaine users may provide important information about handling of cocaine by the fetus at various gestational ages. The procedure was successfully applied to amniotic fluid from suspected cocaine abusers.