Thank you very much.
It's good to be with the FCAC. Thank you very much for coming.
In 2019, consumer bankruptcies were up 9.3%. Other proposals, which can include insolvency or writedowns, were up 17.8%. That's the year-over-year change from 2018-19. In other words, there was a very large increase in bankruptcies prior to COVID-19. This is not a phenomenon that can be blamed on COVID-19, because it occurred before the very first case of COVID-19 was discovered in Canada.
Do you have any insight into why an increasing number of people were finding themselves in this tenuous position prior to the arrival of COVID-19?