Mr. Speaker, I think the bank recapitalization regime is consistent with international best practices and standards developed following the financial crisis. I think it will help enhance the bank resolution tool kit. It will support resilience of our financial sector. I believe this bail-in regime would apply only to Canada's largest banks and would allow authorities to recapitalize a failing bank by converting eligible long-term debt into common shares.
The government is introducing a legislative framework for that regime, and regulations and guidelines will follow.