With respect to the first part, the division of labour, I'll underscore what I said yesterday and what Paul Jenkins said earlier in another public speech about a month ago, consistent with the words of the Minister of Finance: the Minister of Finance has overall responsibility for the financial system. So overall responsibility rests with the Minister of Finance and, through the Minister of Finance, Parliament. So that's absolutely clear.
The second thing is that the current structure of regulation in Canada has a prudential regulator, bank regulator, insurance regulator, with OSFI, the Bank of Canada--which has a loosely defined or an imperfectly defined financial stability responsibility—and other agencies. And we work with provincial securities regulators, CDIC, OSFI, and the federal Department of Finance to ensure there aren't gaps. I think that level of cooperation and interaction, which has been somewhat ad hoc, has been very effective, because we do work very effectively together.
The crisis in other countries has thrown up the issue of how to best organize across various agencies these micro-responsibilities and these macro-responsibilities. Undoubtedly, different countries will have different solutions that will respect their regulatory histories, their successes, and their failures. Canada, obviously, has had successes. It is ultimately the decision of the minister and through Parliament, as appropriate, how to best organize the Canadian system, given our strengths, given our history. The bank will participate as appropriate in those discussions, in those decisions. I would underscore that the system in practice has worked very effectively during the course of this crisis and coming out of this crisis.
The last point is that we are working very closely with OSFI, with federal finance, and as appropriate, with provincial regulators on the redesign of regulations across the whole suite that's coming out of the G-20 process. Most of those decisions or those consensuses are being formed at an international level. So it is important that we work closely together, and we are doing that.