Canadian Banks Don�t Need Government Debt Plan, RBC's Nixon Says

Bloomberg, Doug Alexander and David Scanlan, 1 April 2009Canada�s biggest banks probably won�t need to tap a C$218 billion ($173 billion) debt backstop program set up by the federal government because their finances are sound, Royal Bank of Canada�s top executive said.�I think it would be very unlikely that you�d see utilization of that program,� Gordon Nixon, 52, said in an interview in New York