Thank you, Mr. Chair.
I'll just take the first amendment, if we're discussing the first one first.
This amendment, as I see it, would have a regulator or a policy-maker stepping into business decision-making in the sense of determining to whom a particular product should be sold, the conditions under which it would be sold, and the location where it would be sold. At present we leave those decisions to business decision-making. We don't, at this point, try to dictate the design of a mortgage insurance product or try to specify to whom it should be sold.
I would suggest that if we head in the direction of setting criteria, as suggested in the amendment, it is actually quite a slippery slope to go down. That's not, generally speaking, the function the regulatory framework tries to perform.