As I said in my opening remarks, Canadians can have confidence in our financial system, because despite the extraordinary circumstances, it's a very resilient system and it's very well prepared.
There is no question that the mortgage market will have some difficulties. It's too soon to say that all of these deferrals will turn into delinquencies. There are certainly people who have asked for deferrals who will be able to be current...but certainly there will be some who do not. This is why we require the mortgage insurers and the banks to have very strong capital levels, so that they are able to withstand significant losses, continue to operate normally and continue to provide financial services to Canadians.