We're not required by regulatory driver to match either up or down. That said, CMHC has historically been the price leader or price maker in a relatively modest-sized oligopoly. The majority of our lenders operate on a system-driven toggle, where they send x number of deals to CMHC and allocate x number of deals to Canada Guaranty and Sagen. If there were a pricing differential—let's say CMHC were to reduce premiums—you would see a fairly significant flow volume being diverted from the private sector and going to CMHC. The change in the market would be would be relatively instantaneous.
