Competition Bureau Seeks Public Comment on its Bank Merger Enforcement Guidelines

OTTAWA, November 5, 2003 — The Competition Bureau is seeking public comment on its Bank Merger Enforcement Guidelines (BMEGs). Published in 1998 as The Merger Enforcement Guidelines as Applied to a Bank Merger, the BMEGs establish the analytical framework used by the Competition Bureau when assessing the competitive effects of a merger involving two or more banks.

In June 2003, the Government issued its response to recent House of Commons and Senate Committee Reports on Bank Mergers and the Public Interest and Competition in the Public Interest: Large Bank Mergers in Canada. The Government response included the following recommendation: "In light of the work of the two committees and developments in recent years in Canada and abroad, the Government is asking the Competition Bureau to review the BMEGs."

In reviewing the BMEGs and determining if the analytical approach remains valid, the Competition Bureau invites interested parties to provide comments and/or suggestions by February 2, 2004. These can be submitted by e-mail, fax, or regular mail. All submissions will be made available to the public and will be posted on the Bureau's Web site, except where confidentiality is specifically requested. The Competition Bureau will review the comments received and set out its policies on the matter by June 30, 2004.

To submit commentary, please send to:
Attention: Mr. Doug Milne
fax: 819-994-0998
email: milne.doug@cb-bc.gc.ca
Mailing address:
Competition Bureau
Place du Portage I
50 Victoria Street
Gatineau, Québec
K1A 0C9

The Competition Bureau is an independent law enforcement agency that ensures all Canadians enjoy the benefits of a fair and competitive economy, low prices, product choice and quality service. It oversees the application of the Competition Act, the Consumer Packaging and Labelling Act, the Textile Labelling Act and the Precious Metals Marking Act.

For media enquiries, please contact:
Tim Weil
Director of Strategic Communications
Communications Branch
819-953-9271

For general enquiries, please contact:
Information Centre
Competition Bureau
819-997-4282
1-800-348-5358