Thank you, Mr. Chair.
Mr. O'Connell, thank you for being here. You have certainly addressed a number of issues that this committee has been looking forward to tackling.
I will go very quickly to the underlying concern that I have and that I think many of us around this table share. You already have the power, under the mandate given to you, to set interchange rates as well as to set fees high enough to generate revenue for the kind of innovation you are referring to, which you tend to believe is hobbling you.
My question to you is, why do you need the ability now to make profit? Do you not see that as an opening for your competitors to come in and offer in the credit system exactly what they may have proposed to do in the debit system, which might ultimately lead to your no longer being in business?