I think the governor and I are on the same page. We have different mandates. The Bank of Canada obviously has a broader mandate over the whole economy. Our mandate is safety and soundness of financial institutions, banks, and insurance companies.
The interesting feature we have seen is that the market has really been pushing up capital levels, not regulators. Regulators have agreed around the world that this is not the time to increase capital ratios, as that could make the situation worse.
I think Canada has benefited because we went into this with higher capital ratios than other countries. That has left our banks in a position to continue to lend, whereas I don't think banks in other countries have been able to lend to the same degree.