Finance committee  Yes, typically we're open to doing that. The BCAP guarantees were modelled after our existing export guarantee program that we've had in place for many, many years. That program supports over 1,500 Canadian companies, and those are the principles by which we've always operated. If a bank is willing to renegotiate the term with a company, they have to ask EDC, and then we consider that request.

Finance committee  Thank you. Our clean technology initiative started in 2012. It's come from zero seven years ago to what it is today, which is about $2.4 billion per year. It's been a growing part of our business. That said, we still do business across all Canadian sectors. The energy sector has been a big component of the Canadian economy.

Finance committee  That's exactly right. I'm sorry: when you first asked the question, I heard the interpretation, not the French.

Finance committee  I don't have the exact number for last year, but it is higher than the $2.4 billion. I can come back with an exact number, unless one of my colleagues has it.

Finance committee  I'm not sure if it's the same type of support that this company is referring to, but in terms of the guarantee for reserve-based lending, we would work at the same pace as the banks. As they come and do their redeterminations and renew the loans, we would apply the guarantees. We're looking to work at the same pace as the banks and not slow the end result for the customer.

Finance committee  Yes. We're working with the banks now and are really very close to finalizing the final details of the processes that will be used to approve the applications and provide the guarantee on the loans. Again, the timing coincides with the redetermination period of the borrowing bases.

Finance committee  We certainly look forward to the opportunity to hear from the company directly to make sure that we're meeting their needs for whatever it is they were looking for. It's hard for me to answer more precisely without having heard from the company and seeing the details.

Finance committee  Yes.

Finance committee  That's a number that we could get more accurately from the big six. I don't want to speak on their behalf. I would say that, as Mairead mentioned in her opening, the banks have provided deferrals of principal to their companies, to their customers, and we believe they have an interest in providing them additional credit so they can grow as the recovery starts.

Finance committee  Every loan will price the risk, and the purpose of the guarantee is really to encourage lending rather than to dictate pricing. In fact, I guess, specifically to answer in terms of the ability to do deferrals or interest in kind, if banks are willing to do that, they can approach us under the guarantee mechanism for approval to do it.

Finance committee  We are in the process of operationalizing that program now with financial institutions that lend to those companies. We have a guarantee developed, and we actually have application documentation now in the market that's available to companies. The guarantee is very close to being operationalized and used in the market.

Finance committee  There has not been as of yet. Maybe I'll just add that this type of guarantee is being provided to exploration and production companies that finance themselves based on the value of their borrowing base. That borrowing base gets redetermined twice a year, so really, we're putting the guarantee in place so that it coincides with the spring borrowing base reset.

Finance committee  That's a good question. As risk managers, one of our roles is to properly manage our funds and commitments. I don't have precise figures to give you right now, but I could come back to you with more precise data.

Finance committee  Thank you.

Finance committee  Yes, thank you. The financial institution will provide a loan to the customer at its normal business rate. EDC charges a fee of 1.8% per annum to the financial institution to cover its guarantee percentage. In terms of forgiveness, there is no provision for forgiveness in these loans.