In answer to the question, Mr. Chair, every institution works under a broad risk management framework that's set by the Superintendent of Financial Institutions, but how they actually do that internally is up to the institution.
I keep making analogies to business and households. There are a variety of different sectors of the economy, some for which it's very easy to assess risks, some for which it's more difficult. In some instances, we have new and emerging industries and sectors where there's very little history. Banks and other financial institutions have to assess risk within that context.
If they are unsure of the risks, they tend to require collateral and other forms of guarantee. Do events occur that are unexpected? Yes. Do institutions learn from events that occurred that were unexpected? Yes.
In answer to the question, in the same way that banks do not want to lend to individuals, businesses, or campaigns where they will lose money, similarly they do not want to avoid lending to individuals, businesses, or campaigns that would be viable and that would be profitable.
They try to make sure their risk assessment is accurate so that on the one hand they do not lose funds, but on the other hand they still make a profit.