On the first one, concerning investors, in my role we're interested in depositors. If you put your money in a bank deposit--an RRSP, a GIC--and the institution is a member of CDIC, and all banks must be members, then you're protected up to $100,000. That's where my role ends.
But it is obviously an important issue, particularly when unsophisticated people end up with something they perhaps shouldn't have. I think that is where the work that's being done now by the IDA to look at exactly how the product was sold and what might have been said is so important, and we won't have the answer until that work is done.
In terms of foreign banks, any company in Canada is free to seek out a foreign bank for loans or for services, and that is what we saw with the non-banks--Coventree, etc. We think they dealt primarily with foreign banks, which OSFI does not oversee. We think 90% of the liquidity lines were negotiated with foreign banks.
The way the legislation works is that if a foreign bank comes to Canada and wants to take your money and put it in a bank deposit here, then we oversee that. But if a corporation wants to borrow money, it can go anywhere. That is probably a good thing, that they're able to seek out a source of funding from any bank in the world.