Nevertheless, we will continue to monitor and study this issue, both in Canada and with our international colleagues through the Financial Stability Board and the Bank for International Settlements. All things considered, the Governing Council is of the view that financial stability risks overall have not changed materially since our last report. Let me also mention two very interesting reports included in this FSR.
The first is a portrayal of Canada’s pension business, focusing on the eight largest public pension funds. Canada is a global leader in pension fund management, and this article provides a comprehensive review of their activities. As major players in Canada’s financial system, these entities warrant the Bank’s interest, and I wish to thank those organizations for their co-operation as we prepared the article.