Thank you, Mr. Chair.
Thank you both for being here today.
I want to start by asking a question on a statement of yours that was quoted in the media at the latter end of last year with regard to your thinking that one of the most dangerous risks to the economy was high household indebtedness. We just completed a study on housing looking at high household indebtedness.
If you believe that the recent federal measures will deal with that or if you have any overall thoughts, I wonder if you could elaborate, including if you've seen any trends, or if the policy has been working from the time you made those comments, which I believe was last December.