As the deputy minister said, we are in very frequent contact with the FIs and also with the OSFI. Certainly it's the OSFI's main responsibility to ensure that the capital levels, the liquidity levels, are sufficient so that these banks remain stable, robust and able to withstand shocks. That's very much the case. I don't want to get too technical, but notwithstanding the loan loss provisions, banks have CET1 capital ratios well above 12%, which is very strong.
In terms of what's driving them, I think that's also being watched. Again, I won't run through the gamut, but pain points include commercial real estate and things like auto loans, things where you would expect higher interest rates to bite.
I would point out that for mortgage loans, arrears remain at extremely low levels—in fact, lower levels than prepandemic—so there have not been stresses in that area. That, certainly for a number of the larger Canadian financial institutions, is by far the largest asset class on their books.