Yes, it does.
First and foremost, the decline in sales of automobiles has been widespread. I would say that we have seen in Canada a much smaller contraction of demand than we have seen in many other places. As a point of reference, in the United States, as recently as 18 to 24 months ago, the industry was selling in the range of 16 million to 17 million vehicles a year. Here in Canada, up until October of last year, we were essentially running with an industry of about 1.6 million, approximately one-tenth the size of the American market. Since the U.S. market has declined, it has had now six consecutive months of sales below 10 million. Here in Canada, we have seen some softening, but certainly not to that extent.
In general, then, our opinion is that the financial situation in Canada is much better than that in many other countries. Certainly it is our opinion that the banking system as well in Canada is in much better shape than that in many other countries around the world.