As a result hereof, we have noticed that the industry is increasingly devoting more resources to combating money laundering and terrorist financing and that the compliance function has taken an even more prominent place in the supervised institutions. Furthermore, the compliance programs of the supervised institutions are regularly being subjected to our review during our on-site examinations at the institutions.
Yesterday, we had a joint announcement with the Office of the Superintendent of Financial Institutions (OSFI) about a pilot project involving a number of Canadian banks and insurance 2/3  BIS central bankers' speeches  companies. The Bank and OSFI are developing scenarios for institutions to use to explore how their businesses and holdings may be exposed to climate-related risks.