I have a slightly different answer. I see two risks to the government with respect to the guarantee as a result of new entrants. First, depending on the nature of competition, if the competition either doesn't serve all markets equally or tends to serve those that are perhaps more profitable, either geographically or in terms of borrower risk, there is a very good chance that, as a public mortgage insurer who has a mandate to serve all Canadians, we may end up having a slightly riskier portfolio. That, in turn, may cause a cost to government, as a crown corporation.
The second area where cost could come into play is in a down cycle. While we wouldn't actually see them being bankrupt, given the strength of these entities as they've described it, there is a possibility, notwithstanding the investments they will make in Canada, that they may decide to leave and go back to other markets. Again, in that case, because we're a public mortgage insurer and Canadian, we would remain and be one or perhaps one of two insurers in particularly bad economic cycles--and we've seen that happen. That, again, may adversely affect the government's risk.
It's a little bit different from the question you posed, but in the area of risk there are some possibilities.