Finance committee  The CMHC cap is also legislated. The limit is legislated in the National Housing Act. It has the same mechanism as the proposed bills for increasing the limit through a future appropriation act.

Finance committee  It's legislated, yes. The latest $600 billion is in the 2008-2009 Appropriation Act.

Finance committee  That's correct.

Finance committee  In order to increase the cap, both for CMHC and for the private mortgage insurers under the proposed bill, an appropriation act is necessary.

Finance committee  Yes.

Finance committee  It has a parent company, which is a U.S. company, but it is a Canadian company that is listed on the Toronto Stock Exchange. It's regulated by the Office of the Superintendent of Financial Institutions. The other active company, Canada Guaranty, was previously AIG, the Canadian

Finance committee  I am Ling Wang, and I am the chief of the housing finance section at the financial institutions division at the Department of Finance.