Carrick says that "OSFI's job is to make sure the banking system stays healthy, not help young home buyers get into the market." He has correctly articulated what OSFI's job is, but let's look at what else it is not. It is not to try to influence house prices. It is not to improve housing affordability. It is not to increase or decrease housing activity in certain markets. It is not to police individual consumer debt. Their mandate is well defined. Statements made by OSFI head Jeremy Rudin make it clear that this move pushes beyond their mandate. Financial Institutions have never been stronger. If making sure the banking system stays healthy is what they were after then this should have been done in 2009 when financial institutions were most vulnerable. This move will have a significant impact on people across the country, directly and indirectly and across the economy. It won't reduce risk in the financial system which is their reason for being...if anything that risk goes up.