Fisheries committee  Mr. Chairman, in terms of trends, I would say that over the last year we have had three or four substantial financings that we've done to the fishing industry. So by extension, our exposures actually to the industry have been going up as a result of those financings, and as a portion of our business outstanding.

Fisheries committee  We just recently took a position where the Icelandic bank went into receivership on a well-known publicly traded company in Nova Scotia, to the tune of $40 million, and our due diligence on that I think was very well received. Similarly, we've been looking at other opportunities throughout Atlantic Canada where an opening has been created because of the departure of the Icelandic banks.

Fisheries committee  Typically, the fishers would have been operating a line of credit available to start their season, and that has continued to be the case.

Fisheries committee  I'll take that one. The policies we're looking at right now would be ones of flexibility. For instance, one of the messages we are giving to our customers is that if there is a situation where cashflow is challenged from the perspective of price declines, we would be very proactive in reaching out and letting our customers know that if an alternate arrangement is required, we are very much interested in participating in that.

Fisheries committee  Yes, it is. Ours are the same, as they have been, and today our support to the industry is what it was five years ago.

Fisheries committee  That would be same situation for us too.

Fisheries committee  Thank you, Mr. Chairman. We're pleased to have the opportunity to appear before you to discuss our activities in the Atlantic lobster fishery. I'm joined this morning by my colleague Paul Seipp, who is BMO's commercial area manager for Nova Scotia. I am extremely proud of how our team has been working to serve customers in Atlantic Canada.

Fisheries committee  In fact, I'm happy to share with you something we have been doing for some time to help our customers manage in the downturn, including those in the lobster fishery. We are working with our customers to see what kinds of arrangements can be made to get them through, including deferral on loan or mortgage payments and special accommodations for commercial customers on a case-by-case basis.