Thank you, Mr. Chair.
I would also like to thank the witnesses for being here today.
I'm going to focus a little more on clauses 109 and 110 of the bill, which amend section 11 of the Canada Deposit Insurance Corporation Act.
Someone said that the board will need to develop and maintain resolution plans for systematically important banks. Clause 109(2.01) states that resolution plans must be approved by the minister. In fact, that part states:
“specifying that a by-law made under paragraph (2)(e) is not effective unless it has been approved in writing by the Minister.”
Could you explain why you decided to add that provisions, which requires ministerial approval for resolution plans?