Yes, I'd be happy to.
Clearly this was not an area of expertise for BDC, so the first thing we had to do was acquire the expertise, both by hiring people who had the relevant expertise and by getting the best consulting firms in the area. Once that was done, we had to decide on the exact program. The next step was to do a price discovery process, which meant writing to all the various stakeholders and asking how much funding they would need, given different pricing. If a company is in relatively good shape and can borrow relatively well in other markets besides securitization, they might say that past a certain number of hundreds of basis points they're really not interested and that they'll finance themselves in other ways, while others would really want that.
So we had to go through a price discovery process with all of the stakeholders, and quite candidly, it was a bit of a lengthy process, because we were waiting for them to come back to us with the information. Once that came in, we then made a selection of who should get what, in conjunction with the Department of Finance and in consultation with Industry Canada. Once that was done, the letters went out. They were initially just allocation letters telling them what they were getting. Then, about five days later, the formal, lengthy, legal letter hit them. That's what I was saying to Mr. McCallum: at that point, the behaviour of those companies should start to change.