The crisis certainly affected our banking system profoundly. The system is quite complex and it is actually getting more complex by the day.
We need a collaborative system where the rules are almost voluntary, given that everyone wants the system to be more robust. That is everyone's goal, including the banks. So we need more extensive discussions of a collaborative nature between the banks and the people here in Ottawa. The Bank of Canada has a contribution to make and has to be part of those discussions. Specifically, it can make a significant contribution in research.