Good morning, ladies and gentlemen.
I'll address my questions first to Ms. Dickson. We are currently going through an economic crisis. As you are the superintendant of financial institutions, I suppose I can expect a lot from you.
At the beginning of your presentation, you mentioned that Office of the Superintendent of Financial Institutions was the main agency responsible for supervising and regulating deposit-taking institutions, insurance companies and federally regulated private pension plans. More specifically, you say that in the past Canada has made a good number of regulatory decisions. Your agency seems to have taken part in them indirectly. But your presentation disappoints me somewhat. I'd like you to clarify the role that you played mainly last year, because that does not appear anywhere in your text. Did you issue any corrective notices on the credit scheme or the value of private investments? There have been a lot of problems with asset-backed commercial papers, at least in Quebec, where I am more familiar with the situation. Did you issue any warnings to the financial institutions?
The population has to have trust in its financial institutions; this is our main bulwark against the economy. It is proven that the population in general doesn't understand a whole lot about the financial and monetary systems. So we put our trust in the financial institutions that are well regulated by agencies like yours. What role did you play last year with regard to the deteriorating situation in respect of which you could have asked for some corrective action to be taken?
I'll let you answer the question.