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The decennial revision of the Bank Act. Some background and history. Some issues that have emerged, and future implications of the revision. Various problems, with a detailed discussion of each: the narrowness of existing banking legislation, the problem of foreign banks operating in Canada, the problem of proposed restrictions on the ability of banks to hold shares in other corporations. Two trends that the speaker feels will be the key to much of the future development of the financial system: an ever-broadening scope of activities for individual elements in the industry, with a consequent blurring of the sharp lines that have existed in the past, and an increasing standardization in the rules that apply to the same financial function. A belief in competition in the banking industry.