The most common home loan in Canada is the five-year fixed-rate closed home loan, instead of the U.S. where the most common type is the 30-year fixed-rate open mortgage. Throughout the monetary crisis and the occurring economic downturn, Canada's mortgage market continued to operate well, partially due to the domestic mortgage market's policy structure, that includes a reliable regulatory and supervisory regime that uses to many loan providers.In April 2014, the Office of the Superintendent of Financial Institutions (OSFI) released standards for home loan insurance coverage providers targeted at tightening requirements around underwriting and threat management. In a statement, the OSFI has mentioned that the standard will "supply clarity about best practices in respect of residential home mortgage insurance underwriting, which add to a steady monetary system." This follows a number of years of federal government analysis over the CMHC, with former Finance Minister Jim Flaherty musing publicly as far back as 2012 about privatizing the Crown corporation.