Thank you, Mr. Chair.
Hello, Mr. Routledge. I want to thank you for all your work and for being here today.
According to the Canadian Bankers Association, 0.19% of mortgages in Canada were delinquent in February, meaning that no payments had been made for at least three months.
To what extent do you expect that this proposal will increase the delinquency rate owing the high number of mortgages that will be up for renewal between now until 2026?
How likely is it that this increase in defaults will lead to losses for financial institutions?
Finally, what steps are you taking to limit those risks?