Thank you, Mr. Chair.
Thank you, Mr. Rudin and Mr. Gully, for appearing today.
There's always a concern, or not even a concern, but more of an observation that our federal institutions, because of the very specific and very technical work they do, can sometimes be distant from the citizens they're ultimately working on behalf of.
Now, you've been good enough today, as representatives of OSFI, to come to present to the committee. It's a very valuable thing to have you here. On behalf of constituents—although they are probably not watching, let's be honest—I think this question has to be put: Can you tell us in layman's terms about some of the very basic things that OSFI has been working on?
For example, the domestic stability buffer has been lowered. Naturally, that's an important thing to discuss, but I can tell you that 99.9% of my constituents will have questions about what the domestic stability buffer is in the first place. Let's go back to first principles: Why is the lowering important, but to begin with, what is the domestic stability buffer?