Given your expertise in the financial sector, and considering some of the assumptions that the Canadian real estate market is likely to or might crash, I would like to ask you a general question about Basel III. Basel III(an international regulatory accord that introduced a set of reforms designed to improve regulations within the banking sector) requires banks, among many other things, to meet certain minimum capital requirements. The spiritly contested Basel IV(2016 -2017) appears to require a significant capital increase. That is why some prominent bankers have counseled against it. Keeping the 2008 banking crises in mind, do you think holding capital equal to 10.5% of their total risk-weighted ensures that banks are properly managed, in the case of another financial crisis? Does Basel III apply to banks in Canada?

 

References as well. Provide links to references that I can look at and review.