Mr. Chair, in a moment I will call on my colleague to provide additional detail.
I think at a high level, what's important to keep in mind is that the banks need to have the capacity to absorb losses that will arise in difficult periods like the one we seem to be entering. For that they need to have high capital levels for loss-absorbing capacity. We've created a system in Canada where we build up that loss-absorbing capacity in good times by raising the domestic stability buffer so that we can lower it at times like these, and banks will be able to continue to provide financial services to Canadians.