Scotiabank works with governments in Canada and abroad to achieve common interests such as the promotion of open borders and increased international trade and investment. We support global regulatory convergence, such as the Basel II Accord, to enhance global competition in banking. Our CEO, Rick Waugh, co-chaired a committee at the Institute of International Finance (IIF) in Washington, D.C. that provided the global banking industry's response to the credit crisis.

In addition, we pursue our own policy objectives through the Canadian Bankers Association (CBA) and directly with all levels of government. Key initiatives underway in 2009 include our support for the federal government's efforts to mitigate systemic risk by adopting a single securities regulator, intergovernmental measures that reduce regulatory complexity by moving to principles-based regulation, and provincial/municipal work to build Toronto into one of the world's top 10 financial services hubs. More on Scotiabank's public policy positions as well as our submissions to government consultations can be found at Scotiabank's media centre.

We also provide support or sponsorship of events, programs and forums that encourage discourse on public policy or citizen involvement and awareness of issues. For example, we are a member of the Public Policy Forum, which serves as a neutral, independent and open dialogue on public policy and to encourage public sector excellence and reform. We also provide funding to the Ontario Legislature Internship Program, the Parliamentary Internship Program, the Canadian Association of Former Parliamentarians, and Equal Voice, a non-governmental organization whose objective is to increase the number of elected females at every level of government.

To encourage international policy discussion, we support the Inter-American Dialogue, an organization that fosters policy analysis and communication across the western hemisphere. We also sponsored the Centre for Trade Policy and Law/Canadian Foundation for the America's 2008 conference, Canada and the Americas: Defining Re-engagement, and the Group of Women Parliamentarians Congress in Chile, arranged by the Inter-Parliamentary Forum of the Americas, to promote gender issues in legislative agendas.