The Financial Post reports in its Thursday edition that Canada has not experienced a major banking failure in many years, but there are concerns about the current regulatory framework. The Post's Naimul Karim writes that C.D. Howe Institute's Mark Zelmer believes that recent events, such as the collapse of regional banks in the United States and Credit Suisse Group in Switzerland in 2023, indicate the reforms implemented after the 2007-08 global financial crisis may not be adequate. Mr. Zelmer suggests that it is important to mull potential future developments and make adjustments to the regulatory system, rather than waiting for a crisis to occur. Last year, both the U.S. and Switzerland had to intervene to prevent banking failures from causing wider disruptions to their financial systems and economies. Silicon Valley Bank, a failed lender, lost almost 85 per cent of its deposits over a span of two days. This suggests that bank runs in the "digital and social media age" can take place quickly, Mr. Zelmer said, and that risk is likely to continue growing. The Bank of Canada could also play a role by modifying the structure of its emergency liquid facilities to make them easier for banks to access in times of stress.