Thank you, Mr. Chair.
Professor Lee, in the business papers there has been a bit of a food fight going on between the Bank of Canada and OSFI about regulatory supervision of financial institutions. You're sort of staying on the sidelines watching this.
On the one hand, we seem to have a fairly well-regulated institutional structure, where everybody seems to be at the table. On the other hand, the Bank of Canada seems to want to step in and take supervisory jurisdiction. It appears that the bank may have committed us in international circles to go in that direction.
What are the pros and cons here? What is the net gain or benefit for Canada if in fact we go in that direction?