It is fair to say that for the line of sight for a small business member at Vancity, or a social enterprise or a not-for-profit agency at Vancity, we can explain to them in the current framework or through our central, which is part of that federal landscape at the clearings level, how their cheques and their deposits clear. They have the confidence, therefore, to carry on transactions with us.
It is not clear to us where we need time to understand the different proposals as they emerge if the centrals change who regulates them. Does that change and impact the payment systems? Or is there, in some clauses here, reference to wholesale financial institutions from the cooperative sector? Will another technical wholesale cooperative sector be enabled or an institution be enabled to support this sector in the area of the evolving payment?
We're speaking from a member lens that—you're absolutely right—passes through not only the credit union and the central, but into how we cooperate regionally so that we can create a cooperative credit-union-based space at scale for financial settlements.