Thank you, Mr. Chair.
Thank you, Madam Fraser and colleagues, for being here today and for the fine work you're doing on these reports.
I'd like to focus first of all on chapter 5, “Regulating and Supervising Large Banks”. As a former banker, I'm pleased to see that Canada's banking system is appropriately regulated. As you mentioned, Madam Fraser, Canada's economic well-being depends on the health and stability of the banking system. Over the last two years, during the global economic recession, this has been more important than ever, and it's been proven to be the case.
In your opinion, has the strict regulation of Canada's banking system played a role in Canada being able to avoid some of the problems that occurred in the United States, the United Kingdom, and other countries?