I understand. Thank you very much.
I know the point about the default rate being historically very low, but the lessons from the United States in 2007 were that default rates were incredibly low until they weren't. Therefore, if the banks are increasing these loan loss provisions significantly, they are being effectively told by the OSFI to stop lending or to slow their lending. We're pushing people out of the highly regulated space and into the what I will call the shadow banking sector—people are familiar with that term.
I'm a bit nervous about the OSFI really clamping down on the regulated space and about the unregulated space getting bigger. My sense is that if there's a problem, it will emanate from the unregulated space first. I suspect that may be a better question for the OSFI, but that's something that concerns me.
Is the finance department aware of the new NRCan building code guidelines, Canada's building code?