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ARTICLE · 01 MAY 2009

Federal Consultation On Lease Financing

Blake, Cassels & Graydon LLP
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On April 26, 2009, the Minister of Finance released a consultation paper entitled Supporting Stable Financing – Consultations on Leasing seeking views on the potential merits of allowing banks and other federally regulated financial institutions to offer financial leasing for vehicles and household property.

CanadaFinance and Banking
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Michael Burke
Michael Burke
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Copyright 2009, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Financial Services, April 2009

On April 26, 2009, the Minister of Finance released a consultation paper entitled Supporting Stable Financing – Consultations on Leasing seeking views on the potential merits of allowing banks and other federally regulated financial institutions to offer financial leasing for vehicles and household property. A very short consultation period is contemplated – submissions on this issue will be accepted until midnight on May 8, 2009.

Background

As indicated in the Consultation Paper, lease financing represents an important form of financing for Canadian households and businesses. However, financial market disruption and the resulting liquidity crisis that began in August 2007 has significantly reduced the ability of many lease and finance companies to provide affordable financing options to these customers. To address this shortage, the federal

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