We can't quantify it because we don't yet know how it would be interpreted by the market. What is particularly disturbing about severance is that we don't know how much there is. It obviously depends on the business and on circumstances; it could range from one week to 42 weeks' notice, and those are just the statutory amounts. Other amounts could also be owed under employment or common law agreements. We can't know; we can't really quantify them.
For that reason, we can't predict with any certainty what the impact will be on credit or on any contraction of credit. All we know is that it's a large amount. In the context of a business, 42 weeks of salary represents a lot of money. If a banker has to consider a reserve representing 42 weeks of salary in its credit decision, if it lends on an asset basis and cuts it back by the priority amount, that doesn't leave any borrowing room. So there will be no further possibility of guaranteed borrowing.
Perhaps Mr. Kennedy will be better able to explain this phenomenon, which occurs in the case of loans to all businesses. However, it's definitely something that could well affect all businesses in Canada.