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Statement from the Deputy Prime Minister and Minister of Finance regarding Silicon Valley Bank

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The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, today issued the following statement:

“Today, I convened a virtual meeting with provincial and territorial Finance Ministers, the Superintendent of Financial Institutions, and the Senior Deputy Governor of the Bank of Canada. We discussed the state of the Canadian financial system and ongoing developments related to Silicon Valley Bank.

“This follows a number of meetings I have held, since Friday, with the heads of national and regional financial institutions in Canada.

“The federal government can assure Canadians our financial institutions are stable and resilient.”