Thank you very much, Mr. Chair.
I thank the witnesses for joining us today.
Canada and its allies have imposed unprecedented sanctions on Russia, affecting almost every aspect of its economy. Our objective is very clear: to limit Russia's access to funding.
There is one sanction that I find very interesting: The main Russian banks have been removed from the international financial transfer network, SWIFT. I would like to hear the witnesses' comments, especially those from the Canadian Bankers Association, on this point in particular.
Ms. Mason, perhaps I'll begin with you on the SWIFT sanctions that Canada imposed with our allies. Mr. Silver just noted the importance of working with multiple allies. In the case of SWIFT, we worked with a number of important allies in order to get that done. I wonder if you could speak a bit from your perspective as to the effectiveness of those SWIFT sanctions.