I'll be quite pedantic here. There are specific rules that apply for the credit unions with respect to activity within the area of incorporation in British Columbia. With the bank, while it's under the Bank Act and the federal charter, we also have to register in the provinces we seek to do business in. These are quite separately run organizations even though there is a single shareholder and it's Vancity.
The view that I was presenting today around Bill C-43 is really that, as was noted, as membership-led credit unions, consultations are an essential part of our forum. Over the last decades we've been able to find a forum that builds scale nationally. Some regions have an equal importance of credit unions relative to their population but don't have the same dollars. We run the pool, as Vancity does, by putting all of its scale of clearings and systems in with our region so that our region can aggregate up to be at scale and competitive. Our region then aggregates that up with the other provinces.
That is what we're understanding today and we think that member-led consultation will require a little bit more time than perhaps was anticipated in the bill to get to the new framework. We've said that we're very much in favour of tighter financial regulation, in favour of sound banking services from industry, and we will stand behind that statement.