You're right on a number of fronts there.
You're right that the capital positions of banks around the world, which were found efficient in 2007, 2008, and 2009, had to raise their levels to the level of Canadian banks. Then, of course, everybody has to move from that point on.
I draw your attention to the headlines of just a couple of days ago. I think 20-plus European banks failed their stress test which is a stress test on capital. Canadian banks are consistently and materially above what OSFI requires. It's a very competitive world. The World Economic Forum has judged us to have the strongest and soundest banks seven years running, and I hope that will carry on.
To bring things to a focus, in my remarks I said we were always well capitalized. That's still true. We were all very well managed with a big focus on prudence. That has sure not changed. But we're also very well regulated. We have OSFI as a good and strong supervisor. We've got a new leader there. I think he's going to carry on with that tradition, so I don't see the fundamentals changing.