Thank you.
There are all kinds of innovations, and significant competition in the credit card sector. There are good innovations and not-so-good innovations. We have seen that in the financial sector over the past few years.
It is not the Bank of Canada's mandate to regulate credit cards. The Minister of Finance established a code of conduct for credit cards in an attempt to deal with the kind of problem you have raised.
The Bank of Canada is more concerned about the significant increase in household debt. As Mr. Brison pointed out, even though the rate of increase in household debt has slowed down, the level of household debt is still high. There are currently positive developments in household imbalances but it is too soon to let down our guard.