Thank you for that.
When you appeared before this committee on June 18, you said something very prescient. You said that the protected nature of the Canadian banking sector has led to extraordinary profits to its shareholders and tremendous bonuses being paid to its executives. However, in a time of great need for many Canadians, it is time for more to be asked of this sector—not only for the good of Canadians but also the good of our economy.
Now, one of the most striking aspects of the government response on the pandemic was the $750 billion—three-quarters of a trillion dollars—in liquidity supports given within days of the pandemic hitting. It appears that nothing was really asked of the banking sector in return, so we've seen banking profits of over $40 billion so far during the pandemic. This is through this government's policies.
Do you feel that enough has been asked of the banking sector in light of the unprecedented levels of liquidity supports given to it?