Reform to limit but not stop crises: Bank of Canada

Thu May 13, 2010 3:48pm EDT
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OTTAWA (Reuters) - Reform of the global financial system cannot be expected to prevent future crises but should minimize their consequences, a senior Bank of Canada official said on Thursday.

Pierre Duguay, a Bank of Canada deputy governor, also said at an appearance in Ottawa that proposals for surcharges on capital to address financial imbalances are questionable.

(Reporting by Louise Egan; Writing by Jeffrey Hodgson; editing by Peter Galloway)