Mr. Chair, I don't have the ability to forecast things like that, but I can assure you that at CMHC we take risk management very seriously. We run a commercial mortgage loan insurance business. We conduct stress testing to ensure that we have enough capital to ensure that we're protected against loss.
Currently, the levels of arrears are very low, less than 0.5% of our entire book, which is incredibly low. I know we're going through some very difficult economic times, but to date, because of the strong employment picture, we are not seeing losses coming through our mortgage book.
This is not to say we're complacent. We are monitoring the environment continually to ensure that we have enough capital to withstand any losses.