The reason I ask this is we know that the Reserve Bank of Australia sets the credit card interchange rates at a weighted average benchmark of 0.5% of the transaction value, and there's a ceiling of 0.8%. We know that the U.S. does not regulate this. In the EU, the interchange rate is at 0.3%.
The reason I state these figures is that, contrary to what Mastercard said, which is they want to make card issuance attractive for you guys, the banks in Australia or the EU haven't run away from credit cards and haven't stopped offering credit cards just because interchange fees are obviously much lower than they are here in Canada. It's still attractive for them to engage in card issuance.
I also want to echo comments from my colleagues around the table who have said that they'd like to see a breakdown of that revenue, what percentage you make off interchange fees and what percentage you get to keep.
We keep hearing in testimony as well that it's very expensive to engage in this business of issuing credit cards. We'd like to see a breakdown by every single bank of what the real costs are for participating in credit card issuance and then what interchange fees you're making off of it, essentially the cost, the revenues and then the net profits that you make off of this. You guys are public corporations. Your shares are owned by the Canadian public, and I think they should know the breakdown of your participation in this industry.
Thank you.