Thank you.
To follow on Mr. Van Kesteren's questions, Mr. Cockfield, we are a NAFTA partner with the U.S. Our banking system is recognized to have some of the strongest governance in the world over our system of banking and our financial services sector. We are not a tax haven. We have a sound system of taxation that is open and transparent.
I agree with what you said earlier. We ought to have been able to leverage on these facts and our historic relationship with the U.S. to negotiate some exceptions. We were not targeted by FATCA, but we were caught in the FATCA web. For instance, when the Americans did Buy American...we were able to negotiate some exemptions.
The contributions made by the Canadian government to registered accounts, RDSPs and RESPs, are Canadian taxpayer-funded contributions to help Canadian families. The earnings on these contributions will be considered taxable earnings by the IRS. Would that have been one of the areas where we ought to have sought and attained an exemption from the U.S.?