do to raise canada's productivity and make our economy more resilient. ingredients of productivity, and canada's record economists will tell you that three factors determine how productive an economy's workforce is : capital intensity, labour composition and multifactor productivity. these are the types of words that often lead non - economists to tune out. but they're important, and once you get past the jargon, they're not that complicated. so, let's look at each one. capital intensity is about equipping workers with better tools. if you run a snow - clearing business, your workers will be able to clear more driveways if they have solid shovels that don't break easily. of course, give them a snow blower and they'll be able to clear many more driveways than with just shovels. invest in pickup trucks with plows, and they can do even more. the most natural way to think about capital intensity is in physical terms like machinery, but of course some of the biggest advances in productivity have come through improvements in computing power and the ability to use and move information. the smartphone in your pocket has way more computing power than the spaceship that first 2 / 6 bis - central bankers'speeches took humans to the moon. these advances continue to put more capability in the hands of employees, giving them the ability to be more productive across a wide range of industries, whether goods or services. labour composition in an economy measures the skill level of people in the labour force and how much training they receive. the more skills people have and the more training they receive, the more value they can generate on the job. finally, there's multifactor productivity, which measures how efficiently capital and labour are being used. this can refer to intangibles such as how much competition a company faces, economies of scale, management practices and many others. it can also refer to how well companies are taking advantage of technologies such as machine learning and generative artificial intelligence. those are the ingredients of productivity. now, when people measure productivity in an economy, they are looking either at its level - how much value an economy is producing for every hour worked - or at the growth rate of that productivity. canada has been struggling on both measures for a while. back in 1984, the canadian economy was producing 88 % of the value generated by the us economy per hour. that's not great. but by 2022, canadian productivity had

- and moderate - income persons and neighborhoods or promote economic development by financing small businesses or farms. the aggregate amount of these non - credit card loans could not exceed 5 percent of the bank's capital and surplus. the board supports this amendment subject to a slight modification. the modification is designed to ensure that any non - credit card loans made by a credit card bank under the amendment are made for eligible community development purposes. because credit card banks are evaluated for cra purposes under a special community development test, there is no need to allow them to make non - credit card loans for cra purposes unless those loans would qualify as community development loans under the cra. 19. periodic interagency review of call reports ( matrix no. 109 ) amendment requires that the federal banking agencies jointly review the call report forms at least once every five years to determine if some of the information required by the reports may be eliminated. the federal banking agencies would retain their current authority to determine what information must be included in the call reports filed by the institutions under their primary supervision. 20. electronic fund transfer act ( eft act ) notifications ( matrix no. 115, first bullet ) amendment would increase, from 21 days to 30 days, the amount of advance notice an institution must give to a consumer under the eft act before the effective date of any changes in the terms of the consumer's account. the amendment would conform the timing provisions of the eft act regarding notices of a change in account terms with the similar provisions in the truth in savings act. 21. technical and conforming amendments related to d. c. - chartered banks ( matrix no. 164 ) the amendment would make technical and conforming amendments to the federal banking laws to ensure that banks chartered by the district of columbia are treated as " state " banks consistent with the purposes of the 2004 district of columbia omnibus authorization act. 22. electronic records ( matrix no. 161 ) this amendment would allow each federal banking agency to preserve the agency's records in electronic or photographic form and determine when such electronic or photographic records may be destroyed. in addition, the amendment would provide that any record maintained electronically or photographically by a federal banking agency in accordance with the agency's regulations shall be considered an original record for all purposes, including submission into evidence in a judicial or administrative proceeding. 23. ensure protection of confidential information received from foreign supervisory authorities ( matrix no. 46 ) amendment ensures that a federal banking agency may keep confidential information received from a