We'll call the meeting to order. I think, as everyone knows—they've heard this speech many times—we're dealing with the budget implementation act.
First of all, I understand that there are officials here for every division, and I do apologize. I know a good many people may have had plans tonight, and we really appreciate your coming to appear before our committee and breaking whatever plans you may have had.
We'll start with division 4 of part 6, which is “Securities Issued or Guaranteed by Foreign Governments”. We have Mr. Nick Marion, who is the director of reserves management, financial sector policy branch, Finance; and Mr. Grahame Johnson, managing director, funds management and banking department, with the Bank of Canada
Welcome. You have a short statement, I believe, and then we'll go from there.