Thank you, Mr. Chair.
Thank you both for attending this morning.
I'm going to take you to a different place, if I may: the world of tax havens.
Governor Carney, you recently said that tax havens hurt the integrity of the global financial system and diminish the effectiveness of domestic fiscal policy.
Considering your experience on the Financial Stability Board in bringing non-cooperative jurisdictions into the fold, can you tell us what you consider to be the most effective instruments for contending with these jurisdictions? What are the best practices, or perhaps successful but under-studied measures, that the finance committee should know about?