The Globe and Mail reports in its Monday edition that Canada's bank regulator, Peter Routledge, who runs the Office of the Superintendent of Financial Institutions, or OSFI, does not think banks can run themselves. Guest columnist John Turley-Ewart writes that the regulator's surprising announcement in OSFI's January quarterly release had the self-congratulatory title, "continuing to advance smart, well-calibrated risk-taking." What OSFI calls "smart" the Bank of England calls something else, a policy with "adverse" consequences. OSFI is opting for "resilience at any cost" by overregulating the bank mortgage market. The cost will be high. First-time homebuyers and those seeking more space to start a family will pay. The added sand in the wheels of our economy exacts a price, too. This thinking started in January, 2023, after the housing frenzy of 2021 and 2022. OSFI proposed new bank guidelines for residential mortgage underwriting, arguing the mortgage stress test initiated in 2018 was helpful, "but [said] additional measures may be needed to mitigate mortgage lending risks." That stress test adds two percentage points to a bank's going uninsured mortgage rate to determine the mortgage amount applicants qualify for.