Mr. Chair, the analysis that we did looked at the amount of money that had been borrowed by the government and paid to PPP Canada. We then assessed what we felt would have been the carrying cost—the interest cost of the government to borrow it—and compared it with what PPP Canada had earned. Obviously, in doing that type of analysis there are assumptions made, but we feel that we came up with what would be the best point estimate of it.
There was a slight difference in cost; I believe it was $1.6 million that we felt would have been, over the time period we looked at, the cost of it. But even without that point, we are raising the issue that when the government borrows for certain durations or at a certain credit rating, and then PPP Canada invests for different durations or into assets with a different credit rating, there is a difference, a risk—there's an exposure, either a credit exposure or a duration exposure. That's why we were raising the fact that we believe, in the time period we looked at, that there was a cost of about $1.6 million. But we were also concerned about the potential for financing risks.