The impact of the problems in the United States and Switzerland is minimal here in Canada. As I said earlier—I think it was in response to a question from Mr. Ste‑Marie—our domestic banking system is sound. During the global financial crisis of 2008‑2009, there were no bankruptcies among Canadian banks. In fact, the system is even stronger than it was, as capital and liquidity have increased further since then.
So it can be said that the system is stable and strong in Canada. It is still important for banks to manage risk. It is also important to have a good oversight system here in Canada. That should be maintained. In the U.S. and Switzerland, the response of the authorities was very quick and quite strong, which had the effect of stabilizing the global system. Other events are always possible, which is why it is important that we be prepared.