Mr. Speaker, with regard to the Canadian Secured Credit Facility, CSCF, in response to (a), Business Development Bank of Canada, BDC, was granted the authority to purchase up to $12 billion in securities, and was provided with a $945 million capital injection from the shareholder to do so. The remainder of the funds were to have been borrowed by BDC. The bank allocated funds on a first come, first served basis in the amount of $3.7 billion, with the private sector meeting the rest of the demand.
In response to (b), BDC purchased $3.7 billion in securities which facilitated a total of $4.3 billion in funding to the companies that participated in the program. The $0.6 billion balance came from private investors that participated in CSCF transactions.
In response to (c), BDC hired five full-time employees.
In response to (d), the operating and administration costs for the securitization group stood at $1 million and $3.678 million in fiscal years 2009 and 2010, respectively. This includes legal and consulting set-up costs which stood at $305,372.09 and $1,128,682.32, respectively.