Thank you.
The division on the Canada Mortgage and Housing Corporation can be split in two, even if they overlap depending on the clauses. This division deals with the oversight of the corporation. However, CMHC has expanded enormously since it started. It is really big, which is another concern for us. That's why we are going to support the clauses that focus on oversight, particularly those clauses that place the corporation under the supervision of the Office of the Superintendent of Financial Institutions. That seems logical to us, given that the superintendent is able to carry out that kind of supervision.
However, we are going to have to oppose certain provisions, particularly those that deal with covered bonds. It's an issue we consider very important; it has ramifications and consequences. Given the little time we have been given to address this issue and the impact that such a decision could have on the future of society, and on the situation of society and the government, in the case of real estate bubbles and economic crises in general, we cannot back these clauses. That's why, when we vote on clauses 350 to 367, we are going to divide our votes differently, depending on whether we are dealing with clauses to provide better supervision or clauses dealing more with the issue of covered bonds.