Thank you for your answer. That is very clear.
I would like to add a brief comment: barely four out of ten people who lose their jobs have access to employment insurance. From our perspective, and again, this is a political question, this is an insurance policy that doesn't work. If my fire insurance policy told me that I have one chance in two of being covered, I would go and look elsewhere. In my opinion, employment insurance is not achieving its objectives.
Mr. Hammond, I don't know whether you are able to answer on behalf of the Office of the Superintendent of Financial Institutions. On the subject of risks, we see that the banks are having problems in the west and that some are going bankrupt, including Silicon Valley Bank and Credit Suisse.
How does your office see these risks and what is the situation of financial institutions in Canada at present?