Bank of Canada senior deputy governor Carolyn Wilkins stressed the need for coordination among regulators across the globe in a speech on June 8 – while noting that "a lot of work remains at the international level".

Wilkins told an audience in Montréal that authorities must "find the right balance between encouraging globalisation and guarding against its risks" and this means working together to implement the G-20 reforms.

If they fail to accomplish this, then "we could end up with