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    • Bank of Canada names Carolyn Rogers as new senior deputy governor

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    OTTAWA -

    Carolyn Rogers, a familiar regulatory face in Canada and abroad, is coming home later this year to become second-in-command at the Bank of Canada.

    Rogers has spent the past two years as secretary-general of an international regulatory body overseen by the world's central bankers and was a former senior official at the Office of the Superintendent of Financial Institutions, which regulates banks in Canada.

    Rogers' seven-year term as senior deputy governor starts Dec. 15, one week after the bank makes its final scheduled rate announcement for 2021 and just over a year after Carolyn Wilkins stepped down from the role.

    In many of her speeches at OSFI and more recently at the Bank of International Settlements, essentially a central bank for the world's central bankers, she has stressed the need for regulators to be good referees.

    In a speech from May, Rogers noted that regulators need to think differently in the face of changing times, including moving away from focusing on rules and standards to a greater willingness to act without perfect information.

    “The last decade has been a challenging one for bank supervisors,†reads the text of Rogers' speech on May 25.

    “However, the decade ahead is likely to be even more challenging. What's more, the solutions deployed in the last decade are not likely the same ones needed in the decade ahead.â€

    Her regulatory background was something the hiring committee noted in announcing her appointment, including her knowledge of payments systems the Bank of Canada plans to update next summer so it can handle real-time payments beyond existing e-transfers.

    Governor Tiff Macklem said Rogers' international experience will add a diverse perspective to the central bank, while Finance Minister Chrystia Freeland separately said that Rogers' experience should help the country navigate the end of the pandemic and an economic recovery.

    CIBC senior economist Royce Mendes said Rogers' expertise in Canadian and global financial systems will complement Macklem's macroeconomic and monetary policy background.

    Still, Mendes said, her appointment is unlikely to change the overall trajectory of Canadian monetary policy.

    The central bank has been on the hunt for a senior deputy governor since late last year when Wilkins announced she was leaving the Bank of Canada before the end of her seven-year term.

    When Macklem was asked about the process in May, he said nobody was looking forward to having someone in the senior deputy role more than him.

    At the time, he noted the bank's governing council, which makes decisions on critical bank policies like the key policy rate, was not as diverse as it should be, or as it had been in the past when there was an equal number of men and women.

    “And we saw the benefits of that,†Macklem said during a press conference with reporters.

    “Moving forward, I think it will be important for the governing council to become more representative of the diversity of Canadians. Obviously, that's not the only criteria where we're going to be looking for certain skill sets.â€

    In a BIS podcast in late May, Rogers spoke about a career where she has been one of the few women in the room as decisions were being made and why diversity, beyond gender diversity, was necessary.

    When she was asked why more women weren't in senior ranks like herself, she said it was due to institutional inertia.

    “We just keep doing what we've always done,†she said in the May 20 podcast. “And if you keep doing what you've always done, you're going to get the same results.â€

    This report by The Canadian Press was first published July 12, 2021.

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    Top Hezbollah commander among 12 killed in Israeli strike on Beirut

    Israel killed a top Hezbollah commander and several members of the group's elite Radwan unit in an airstrike on Beirut's southern suburbs on Friday, the Israeli military and a security source in Lebanon said, sharply escalating the year-long conflict between Israel and the Iran-backed group.

    Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

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    The province's public security minister said he was "shocked" Thursday amid reports that a body believed to be that of a 14-year-old boy was found this week near a Hells Angels hideout near Quebec City.

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    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    • Two people emerged unhurt after a float plane had a hard landing late Friday morning on Lake Temiskaming.

    • A field trip aimed at educating Toronto students about the plight of a northern Ontario First Nation ended with them taking part in a protest where pro-Palestinian slogans were shouted.

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    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

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    • An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    • Video of a brazen daylight auto theft which shows a suspect running over a victim in a stolen luxury SUV has been released by police west of Toronto.

    Local Spotlight

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    The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

    It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

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    Edmontonians can count themselves lucky to ever see one tiger salamander, let alone the thousands one local woman says recently descended on her childhood home.

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    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • A field trip aimed at educating Toronto students about the plight of a northern Ontario First Nation ended with them taking part in a protest where pro-Palestinian slogans were shouted.

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    • The Montreal couple from Mexico and their three children facing deportation have received a temporary residence permit.

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    • DEVELOPING

      DEVELOPING

      Edmonton police are warning about traffic disruptions on Friday near the headquarters of the Alberta Teachers' Association, where a protest against the inclusion of sexual orientation and gender identity in school curricula will be taking place.

    • A Nova Scotia woman has applied for a medically assisted death, saying after years of battling to receive out-of-country surgery for an illness that causes 'indescribable' pain, she struggles to maintain the will to live.

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    • Guelph resident, Susan Bard, is being remembered as a vibrant community advocate and volunteer who died doing what she loved – cycling.

    • Emergency services responded to a vehicle fire Friday morning in the area of Samuelson Street in Cambridge.

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    • A 69-year-old woman from Outlook, Saskatchewan is dead and three people are injured after a truck and SUV collided on Highway 15 on Thursday.

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    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Two people emerged unhurt after a float plane had a hard landing late Friday morning on Lake Temiskaming.

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    • Two men from Barrie have been charged after a deadly shooting at a park in Keswick on Wednesday.

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    • Windsor fire is on scene at an incident on McDougall Street.

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    • In a rare move, the Greater Victoria School District Board of Education has been slapped with a ministerial order from the province requiring it to update a student safety plan – drawing concern around political posturing leading up to an election.

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    • Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.

    • A Vulcan, Alta., man has been charged with a Lethbridge woman's murder after her body was found in the Oyen area.

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    N.L.

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