Thank you, Mr. Chair.
I'm the chief of the debt management section at the Department of Finance. Loan guarantees for accounting treatment are not usually carried directly on the balance sheet. They are a contingent liability.
When we looked at the issue of the borrowing limit, the approach we took was the actual borrowings that the government or the crowns undertake in the markets or from financial institutions. That's how this borrowing authority was scoped.
In essence, it's very similar in scope with the existing borrowing authority approach, or the pre-2007 approach that existed and also had parliamentary approval. The focus or the scope is on the borrowing activities of the government.
I think, as my colleague Mr. Moreau indicated, the additional factor we've added here is the crowns.