The key point to keep in mind and to underline is that because interest rates are so low and delinquencies are relatively low, people are not having a huge problem servicing their debt. But with a bigger level of debt, when rates go up, the potential for that problem to rise more rapidly than it has historically is certainly there. That's a vulnerability, and that's what we've been trying to remind Canadians of.
On April 23rd, 2013. See this statement in context.