Absolutely.
RBC was the first to market with an on-reserve housing loan program such as this, in the early nineties. Clio and I cross paths often in the marketplace because we're out there doing the same kind of work in trying to overcome this housing crisis. We're not here as competitors. We definitely do support the housing crisis that we're talking about today.
At RBC, $200 million in contingent liability has been approved. We expect another $100 million to come through the door in the current fiscal and half of the next fiscal, just based on the existing relationships we have and everybody being focused on housing.
Access to infrastructure is always something that they feel that they need to overcome. Funding flows slowly through the current federal government infrastructure program, so at times we come to the table for the nation and provide bridge financing to help them build units.
This program is specifically built for those who are employed in communities. The affordable housing and low-income CMHC programs tend to support those who are unable to work or are on social assistance under the welfare system schematic currently delivered by Indigenous Services Canada.
We work hard through our bank programs to make affordable housing on reserve that is backstopped by the first nations guarantee. At times, RBC and BMO will risk share these facilities at a 70-30 split. We're looking at and talking about risk sharing at a higher rate as well, so that this makes more for those communities that have infrastructure funding in place and available to build as fast as the infrastructure is put in.