Thank you very much, Mr. Chair. I appreciate it.
Thank you very much, Mr. Wu and Mr. Joshua, for coming here on this very exciting subject.
I was more interested in clause 144, which is amending the Canada Mortgage and Housing Corporation Act by adding proposed subsections 35(1) and 35(2). Proposed subsection 35(1) would allow the CMHC to “maintain in its own name one or more accounts with the Bank of Canada.” Proposed subsection 35(2) would allow the Bank of Canada to “pay interest on any money that the [CMHC] deposits with it.”
How would these proposed changes improve the management of federal funds, financial oversight, and the operations of the Canada Mortgage and Housing Corporation?